Minister for National Economy Mihály Varga initiated the establishment of a joint tourism working group today, at the 4th Kazakh-Hungarian Business Forum held in Budapest. At the event, organized by the Hungarian-Kazakh section of the Hungarian Chamber of Commerce and Industry and its Kazakh partner, participants – including 40 enterprises – discussed partnership options to facilitate further cooperation.

As the Minister said following the event, a constant and multi-faceted political, economic and cultural dialogue has been developed over the past years between Hungary and the Central Asian country with the most dynamically growing economy. Mihály Varga, who has been an advocate of fostering closer bilateral relations for almost two decades, stressed that in addition to the Hungarian National Trading House in Kazakhstan an honorary consulate has been assisting in establishing direct business relations – such as personal meetings and business forums -- as of November last year.

Several Kazakh enterprises introduced themselves at the meeting on 30 January. The Minister said that factors such as improving Hungarian competitiveness, balanced economic growth, lower state debt and below 3 percent of fiscal deficit provide attractive conditions for Kazakh companies as well. It is a good sign of cooperation between the two countries that currently there are about 50 firms in Kazakhstan that have been set up through Hungarian financing.

Speaking about future cooperation, Mihály Varga said that the Hungarian Government has been supporting the participation of Hungarian enterprises in Kazakhstan’s development and industrial programme. Participants of the forum agreed that fields where closer relations may be forged include the modernization of Kazakhstan’s agricultural and manufacturing sectors and pharmaceutical and healthcare industry development projects. The export of knowledge and technology accumulated by Hungary with regard to vehicle manufacturing may also open up new opportunities for both parties. Tourism is another sector with possibilities that have been left     unexploited thus far, he emphasised, adding that he initiated the establishment of a tourism working group.

(Ministry for National Economy)