Kazakhstan and Hungary to build intermodal terminal in Budapest
Prime Minister of Kazakhstan Olzhas Bektenov held a meeting with visiting Speaker of the Hungarian National Assembly László Kövér to discuss the implementation of agreements reached during President Kassym-Jomart Tokayev’s state visit to Hungary in 2024, Kazinform News Agency learnt from Primeminister.kz.
The parties focused on bilateral cooperation in trade, economics, and investment, including joint ventures, the construction of new production facilities, and collaboration in transit and transport, cultural and humanitarian initiatives, and the digital sector.
Special attention was paid to long-term partnership prospects in digitalization and artificial intelligence.
Hungary is Kazakhstan’s key partner in the European Union. Last year, bilateral trade increased by 6.4%, reaching approximately 200 million US dollars. In the first seven months, trade grew by 27%, surpassing 150 million US dollars. Kazakhstan is prepared to expand exports to Hungary across 95 product categories, offering significant potential for trade growth.
Transport and logistics remain a central area of partnership. The Trans-Caspian International Transport Route, now integrated into the Trans-European Transport Network, provides a gateway for Kazakh goods to enter Europe. As part of further cooperation, Kazakhstan and Hungary plan to build an intermodal terminal in Budapest by 2026 in collaboration with Hungarian company L.A.C. Holding.
The meeting also focused on the work of the Intergovernmental Commission on Economic Cooperation.
Both sides expressed readiness to further strengthen mutually beneficial economic ties.
Earlier it was reported, Kazakh Majilis Speaker Yerlan Koshanov met with Speaker of the Hungarian National Assembly László Kövér, who is paying an official visit to Kazakhstan.