ASTANA, Kazakhstan, November 2. Kazakhstan and Hungary have every opportunity to increase bilateral trade turnover to $1 billion in the near future, said President of Kazakhstan Kassym-Jomart Tokayev during a meeting in expanded format with Prime Minister of Hungary Viktor Orban, Trend reports.
"Thanks to our joint efforts, Kazakh-Hungarian integration is developing dynamically in all areas. Dear Prime Minister, you are making an invaluable contribution to this matter. We are interested in further deepening our fraternal relations and mutually beneficial cooperation. I am confident that today’s negotiations will give new impetus to the further development of the bilateral strategic partnership," he said.
Tokayev believes that there is a good institutional basis between Kazakhstan and Hungary for further strengthening relations.
According to him, the Intergovernmental Commission on Economic Cooperation and the Business Council should play an active role in promoting the development of trade relations.
"Despite ongoing geopolitical tensions, our trade turnover grew by more than 20 percent last year," he said.
Hungary is one of the key trade and economic partners of Kazakhstan in Central and Eastern Europe.
Bilateral trade turnover between the countries amounted to $172.2 million in 2022.