Kazakhstan, Hungary Eager to Deepen Strategic Partnership

Kazakhstan’s Ambassador to Hungary Abzal Saparbekuly met with Chairman of the Hungarian Chamber of Commerce and Industry Elek Nagy.

According to the Kazakh Foreign Ministry, the meeting was also attended by Gabor Kiss, Chief Advisor to the President of the Chamber, and Flora Palmay, Director for International Affairs, The Caspian Post reports, citing Kazinform.

During the discussions, the parties addressed the current state and future prospects of bilateral trade, economic, and investment cooperation.

Ambassador Saparbekuly emphasized the importance of deepening economic ties between Kazakhstan and Hungary and noted that the National Chamber of Entrepreneurs “Atameken” is keen to strengthen cooperation with Hungarian partners. In this regard, it was proposed to organize a business mission of Kazakh companies to Hungary with the support of the national company “QazTrade” and to consider the Hungarian Chamber of Commerce and Industry as a co-organizer.

Special attention was given to the expansion of investment cooperation. It was noted that the portfolio of Kazakh-Hungarian investment projects currently includes 18 projects worth approximately 900 million US dollars, covering key sectors such as energy, agribusiness, logistics, pharmaceuticals, renewable energy, and IT.

The Kazakh ambassador also highlighted the significance of the Kazakhstan-Hungary Investment Fund, an initiative that was proposed following negotiations between President Kassym-Jomart Tokayev and Prime Minister Viktor Orbán. Currently, active consultations are ongoing between the ministries of economy of both countries to fill the fund with concrete projects. In this context, the Kazakh side expressed its readiness to develop a portfolio of joint investment initiatives and invited the Hungarian Chamber of Commerce and Industry to assist in attracting Hungarian companies interested in entering the Kazakh market.

During the meeting, the Kazakh side invited Hungarian partners to participate in the Astana International Forum, which will take place in May this year. The forum will serve as a key platform for discussing new investment and trade cooperation opportunities between Kazakhstan and Hungary.

In turn, Chairman Nagy confirmed Hungary’s strong interest in expanding cooperation with Kazakhstan and expressed his readiness to further strengthen bilateral relations.

At the conclusion of the meeting, the parties discussed government support measures for foreign investors in Kazakhstan, including tax incentives, in-kind grants, benefits in special economic zones, as well as cooperation opportunities in innovation, water resources, and digital technologies.

Both sides reaffirmed their commitment to further strengthening the Kazakhstan-Hungary economic partnership and agreed to continue cooperation on all key issues.