Kyrgyz-Hungarian Business Forum held in Budapest
From: 24.kg
President of Kyrgyzstan Sadyr Japarov took part in the Hungarian-Kyrgyz Business Forum in Budapest. Press service of the head of state reported.
The event was also attended by the Minister of Economic Development of Hungary Marton Nagy, the heads of the Hungarian-Kyrgyz Development Fund, the Chamber of Commerce and Industry of Kyrgyzstan, as well as about a hundred large companies of Kyrgyzstan and Hungary, representing the tourism and construction industries, light and food industries, pharmaceuticals, energy, industrial production and much more.
Opening of the forum began with demonstration of a video about the investment and export opportunities of Kyrgyzstan. Then Sadyr Japarov made a speech. He noted that the relations of friendship and cooperation between Kyrgyzstan and fraternal Hungary were based on historical, cultural and spiritual ties.
The Business Forum is important for the development of trade and economic relations with Kyrgyzstan and the European Union.
The head of state noted that the Hungarian-Kyrgyz Development Fund with an authorized capital of $50 million was created in 2021. It is already planned to implement specific business projects totaling $26 million.
«Meanwhile, the trade and economic potential of cooperation between Kyrgyzstan and Hungary is not fully used. For example, for 11 months of 2022, the volume of trade amounted to only $7.6 million. Therefore, it is important to give a new impetus to the development of trade-economic and industrial-investment cooperation. In this direction, we have every opportunity to promote the export of organic products to the markets of near and far abroad countries,», Sadyr Japarov believes.
At the same time, he noted that Kyrgyzstan was interested in the experience of Hungary in the use of new technologies in the agro-industrial complex. In addition, the country, as a member of the European Union, provides the Kyrgyz Republic with special tariff benefits under the GSP+. This means that Kyrgyz products can be exported to Hungary without any duties.
Sadyr Japarov proposed to consider the possibility of opening a trading house of Kyrgyzstan in Hungary.
He also supported transfer of production and creation of joint ventures for the production of organic products in Kyrgyzstan. The head of state invited Hungarian business to participate in the implementation of priority projects in the areas of tourism, energy, agriculture and industrial production.
«Kyrgyzstan is especially interested in cooperation in the field of introduction of green energy. Our country has a high potential for renewable energy sources such as hydropower, solar power, wind power and geothermal water power. We invite Hungarian companies to consider the possibility of their participation in these projects, as well as in the construction of small, medium and large hydropower plants in Kyrgyzstan,» said Sadyr Japarov.
The President also noted the tourism potential of the republic. He called on Hungarian companies to actively cooperate in the implementation of infrastructure projects in the country’s tourism sector, in particular the construction of ski resorts, hotels, reconstruction of healthcare facilities and other projects.
«In addition, for the development of tourism and trade and economic cooperation, it is very important to open direct flights between our countries as soon as possible. Kyrgyzstan is always open for economic, scientific and humanitarian cooperation, as well as for interaction with representatives of the Hungarian business community. We hope that discussions within the framework of the forum will open up new opportunities for our entrepreneurs,» said Sadyr Japarov.
The head of state invited Hungarian businesses to actively work with Kyrgyz entrepreneurs, find common ground and invest in mutually beneficial projects.
