Budapest to host Kazakh-Hungarian Business Forum

Kazakhstan is Hungary's fourth biggest trade partner among the CIS countries (behind Russia, Ukraine, and Belarus).

"Since 2014, the Hungarian foreign ministry has also been engaged in encouraging investment and promoting exports to foreign markets. A Kazakhstan delegation headed by Chairman of the Management Board of KAZAKH INVEST National Company Saparbek Tuyakbayev made a visit to Budapest on 14th and 15th January 2019 for the purposes of addressing the issues related to the attraction of Hungarian investment into the economy of Kazakhstan and for studying the experience of the Ministry of Foreign Affairs and Trade of Hungary in attracting foreign direct investment and promoting exports," said Nurbakh Rustemov, Ambassador Extraordinary and Plenipotentiary of the Republic of Kazakhstan to Hungary (with concurrent accreditations to Serbia and Macedonia).

As a result of the visit, the sides agreed to hold a business forum in Budapest on March 5-6 of this year to discuss the implementation of specific investment projects in Kazakhstan.

"KAZAKH INVEST NC JSC proposed around 100 business projects the Hungarian side. Now the Hungarian side is thoroughly studying these projects," the Ambassador said.

As of today, about 50 joint ventures with Hungarian capital participation are operating in Kazakhstan, the Kazakh-Hungarian Business Council has been established, and the necessary legal contractual framework has been built.

Mr. Rustemov pointed out that all events scheduled for 2019 will be held as part of the 5th Anniversary of the Strategic Partnership between Kazakhstan and Hungary.