ASTANA – Kazakh President Kassym-Jomart Tokayev called trade, economic, and investment cooperation between Kazakhstan and Hungary a priority area of the bilateral agenda during a May 20 meeting with Hungarian Prime Minister Viktor Orbán in Budapest. He arrived in the Hungarian capital to participate in the informal summit of the Organization of Turkic States (OTS).
Viktor Orbán and Kassym-Jomart Tokayev. Photo credit: Akorda.
During the meeting, Tokayev warmly recalled his state visit to Budapest last year, during which several strategically important agreements were signed. According to him, the visit was very fruitful in terms of practical agreements and in strengthening mutual understanding between Astana and Budapest.
In 2024, the volume of mutual trade reached almost $200 million, with a 37% increase in trade recorded in January-March, reported Akorda.
Hungarian investments in the economy of Kazakhstan exceeded $370 million. The joint investment portfolio includes 16 projects worth nearly $700 million in areas such as mechanical engineering, agriculture and logistics.
Noting the special significance of the upcoming informal summit of the OTS Heads of State, Tokayev confirmed Kazakhstan’s commitment to a constructive dialogue on all priority areas of the organization’s activities.
Orbán noted that bilateral cooperation has been developing dynamically in recent years, notably in the economic sphere, and expressed gratitude for the comprehensive support in organizing and holding the OTS summit.
The meeting reviewed the progress in implementing the agreements reached following last year’s high-level talks, including joint projects in energy, trade and investment. The officials also shared their perspectives on current topics on the international agenda.
