5 billion forint (14 million EUR) Hungarian-Kyrgyz Joint Development Fund will be set up according to an agreement that was signed to support the involvement of Hungarian companies in modernization Kyrgyzstan’s infrastructural, monetary, agricultural and healthcare systems, said Foreign Minister Peter Szijjártó in Bishkek. During his official visit to Kyrgyzstan the Minister signed agreements with his partners on international freight transport and metrological cooperation between the Foreign Ministries of two countries.
Speaking at a joint press conference held with the Foreign Minister Ruslan Kazakbaev, Peter Szijjártó said that the Joint Development Fund would ensure loans, capital financing and other financial instruments for investments by Hungarian companies in Kyrgyzstan. It will help to widen the scope Hungary’s economic involvement and create opportunities to return to growth in external economics. Peter Szijjártó and his Kyrgyz counterpart Ruslan Kazakbaev have announced that Hungary will expand its Embassy’s operation in Bishkek and its consular section will begin issuing visas on behalf of four other EU countries besides Hungary as of this September.
“The global fight against COVID-19 pandemic has increased the importance of international cooperation. Strengthening Eurasian cooperation is very important and the strategic partnership between Hungary, as an EU member, and Kyrgyzstan, as a member of the Eurasian Economic Union – is an important pillar of this cooperation” – underlined Peter Szijjártó.
The two countries will celebrate the 30th anniversary of their diplomatic relations in 2022 said Szijjártó, adding that this cooperation was built on mutual understanding and respect. In terms of bilateral trade, the Minister said that its volume had increased by 150 percent over the first three month of this year. Peter Szijjártó highlighted cooperation in the pharmaceutical industry. Richter Gedeon has been present in the Kyrgyz market for 24 years and now holds the seventh largest share, having sold last year 1.5 million boxes of medicines in Kyrgyzstan. In addition, “intensive negotiations” are underway about establishing direct air link between the two countries. Hungarian airline Wizzair is preparing to establish flights between Bishkek and Budapest, as well as between Bishkek and Abu Dhabi, he said.
He explained that by joining as an observer at the Turkic Council, which has its European Office in Budapest, Hungary expanded its opportunities in foreign affairs. Budapest also supports the creation of a Turkic Investment Fund and a Turkic Development Bank and is ready to participate in them. An agreement had been reached with two Kyrgyz universities on launching Hungarian language courses and another one on establishing a Hungarian cultural centre in Bishkek. “In addition, we are pleased that 483 students have applied for the 150 higher education scholarship places offered by the Hungarian government to Kyrgyz students this year,” said Peter Szijjártó.
