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VARGA DISCUSSES STRENGTHENING ECONOMIC TIES WITH KAZAKHSTAN

 

Hungarian Finance Minister Mihály Varga held talks in Kazakhstan with Kairat Kelimbetov, head of the Astana International Financial Centre, on strengthening the two countries’ economic ties. The centre was opened along with the Astana International Stock Exchange, in 2018, to boost financial cooperation between countries of the Eurasian Economic Union, China, Mongolia, the Middle East and Europe. It offers great opportunities to Hungarian financial and economic players, and has a chance to become an important tie between central Asia, China and Europe, Varga said.

Hungary’s Eximbank supports Hungarian companies in Kazakhstan with a 420 million euro credit line. Bilateral trade between the two countries has grown dynamically since 2016, with trade in goods jumping nearly 40% in January-October 2018, surpassing 600 million dollars. There is significant demand for Hungarian pharmaceutical and chemical products and cooperation in water management also has great potential, Varga said.