Kyrgyzstan, Hungary Agree on Additional Capitalization of Joint Fund

Deputy Chairman of the Cabinet of Ministers-Minister of Water Resources, Agriculture and Processing Industry of Kyrgyzstan Bakyt Torobaev met with Minister of Foreign Affairs and Trade of Hungary Peter Szijjarto during his working trip to Budapest.

The Cabinet of Ministers reported that during the meeting, the parties paid special attention to the implementation of the provisions of the Declaration on Enhanced Strategic Partnership, signed last November in Bishkek by Kyrgyz President Sadyr Zhaparov and Hungarian Prime Minister Viktor Orban, The Caspian Post reports, citing Kyrgyz media.

Bakyt Torobaev noted that he arrived in Hungary for a working visit in order to implement the instructions given by the Kyrgyz leader on the basis of negotiations between Sadyr Zhaparov and the Hungarian prime minister.

The parties noted the activation of bilateral cooperation in the field of metallurgy. In this context, the issue of supplying equipment and raw materials for the Bishkek Stamping Plant state enterprise from the Hungarian Arsisko AMO Pak company was considered.

Torobaev and Szijjarto discussed the possibility of developing a comprehensive long-term development plan for Issyk-Kul with the cooperation of Hungarian and Kyrgyz specialists, taking into account the experience of development and regulation of Balaton Lake and adjacent territories.

In addition, the issue of increasing the authorized capital of the Kyrgyz-Hungarian Development Fund was considered, taking into account the dynamics of bilateral trade, economic and investment relations.

As a result of negotiations, an agreement was reached on additional capitalization of the Fund for an additional $34 million. The possibility of creating and holding a meeting of the Business Council, which will bring together representatives of business communities of Kyrgyzstan and Hungary, was also considered.

In the course of negotiations, the issues of increasing the volume of exports of environmentally friendly domestic products to European countries were discussed. In this context, the prospect of creating logistics centers that meet European standards of quality and safety was considered.

During the meeting, Deputy Chairman of the Cabinet of Ministers Bakyt Torobaev and Hungarian FM Peter Szijjártó expressed confidence that this meeting will open new opportunities for the development of bilateral relations.

Following the talks, the sides made a statement to the Hungarian media.