ASTANA – President Kassym-Jomart Tokayev will attend the Informal Summit of the Heads of State of the Organization of Turkic States (OTS) on May 20 in Budapest, where OTS leaders are expected to discuss deeper cooperation in trade, security, infrastructure, and cultural preservation, reported Kazinform.
Photo credit: gov.kz
This will be the first summit in the OTS’ history to be hosted by an observer country, Hungary. The event will bring together the presidents of the OTS member states – Azerbaijan, Kazakhstan, the Kyrgyz Republic, Türkiye, and Uzbekistan – along with representatives from observer states and the OTS Secretary General.
Astana – Budapest: trade and investment opportunities
Hungary, a key partner of Kazakhstan in the European Union (EU), became the first EU country to sign a strategic partnership agreement with Astana. In 2024, trade turnover grew by 4.4% to nearly $200 million, and both countries aim to increase this figure to $700 million in the coming years.
Since 2005, Hungarian investment in Kazakhstan has exceeded $370 million. Currently, 16 joint projects are underway in energy, industry, and the green economy.
Lidiya Parkhomchik, an expert from the Institute of World Economy and Politics (IMEP), expects significant investment from Hungary in Kazakhstan’s agricultural sector.
Parkhomchik also noted the potential launch of a Kazakh-Hungarian investment fund and the recent establishment of QazTrade’s representative office in Hungary, aimed at promoting bilateral trade and attracting investment.
“The upcoming meeting should highlight issues of investment cooperation, since the parties agreed last year to create a special trade mission – QazTrade – in Hungary, which should promote Kazakhstan’s initiatives, as well as attract Hungarian investments to Kazakhstan,” she said.
Transportation between Europe and Eurasia
The summit is expected to address the development of the Trans-Caspian International Transport Corridor. Bauyrzhan Auken, the senior expert of the Asian Studies Department at the Kazakhstan Institute of Strategic Studies, sees strong prospects in developing multimodal terminals, expanding oil and uranium supplies, and building transport corridors .
Also, the launch of direct flights Shymkent-Budapest from May 27 will serve as an additional impetus for the development of tourism, particularly business tourism.
Budapest Declaration
According to experts, the summit will raise issues of economic ties, international security, and intercultural issues on the development of diasporas. A special emphasis will be placed on cooperation in culture and the preservation of the common Turkic heritage.
The summit is expected to conclude with the adoption of the Budapest Declaration, outlining the shared strategic vision and future initiatives of the Turkic states.
“We also anticipate agreements on trade, logistics, financial regulation, and environmental protection,” Auken noted.
