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Eximbank opens EUR 577 mln credit line to Turkic Council members

Hungarian Export-Import Bank (Eximbank) has opened a EUR 577 million credit line to foster cooperation with companies from the member states of the Turkic Council, Minister of Foreign Affairs and Trade Szijjártó told state news wire MTI at a business forum in Azerbaijanʼs capital Baku on Monday.   

The flag of the Turkic Council and its five full member states: Azerbaijan, Kazakhstan, Kyrgyzstan, Turkey, and Uzbekistan. Photo by Dana.S/

Szijjártó named the pharmaceutical industry, healthcare, water management, logistics and the construction industry as areas where opportunities for Hungarian businesses are increasing.

Trade between Hungary and the five full members of the Turkic Council (Azerbaijan, Kazakhstan, Kyrgyzstan, Turkey, and Uzbekistan) has doubled in a decade to reach USD 4 billion, Szijjártó noted.

The organization recently opened its European representative office in Budapest, the minister added, while around 705 students from the five countries of the council study under a scholarship in Hungary .

Szijjártó participated at a meeting of Turkic Council foreign ministers in Baku, where he also held bilateral talks with the Azeri, Uzbek and Kazakh foreign ministers on the sidelines.

Since late last year, Hungary has had observer status in the Council, which was set up in 2009.