Hungary, Kyrgyzstan set up EUR 50 mln investment fund

Int’l Relations

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Hungary and Kyrgyzstan have agreed to establish a EUR 50 million investment fund to support Hungarian businessesʼ investments in Central Asia, Minister of Foreign Affairs and Trade Páter Szijjártó said on his Facebook page on Wednesday, after talks by phone with his Kyrgyz counterpart Chingiz Aidarbekov, state news wire MTI reports.

Szijjártó said an investment protection agreement between Hungary and Kyrgyzstan had been cleared by the European Union, and three rounds of talks had taken place on a double taxation avoidance treaty.

There are no issues concerning a Declaration of Strategic Partnership between the countries, he added.

Kyrgyzstanʼs president was to have visited Budapest late in April, but the trip has been postponed until the second half of the year, Szijjártó said.

He argued that Hungaryʼs ties with Kyrgyzstan have been strengthened by the collective work of the Turkic Council.

The Turkic Council is an intergovernmental organization established in 2009 to promote comprehensive cooperation among Turkic speaking states. Its members are Azerbaijan, Kazakhstan, Kyrgyzstan, Uzbekistan, and Turkey. Hungary has had observer status in the organization since 2018.

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