Kazakhstan: Kazakhstan plans to increase its trade turnover with Hungary to $1 billion in the coming years, President Kassym-Jomart Tokayev said during a joint media briefing with Hungarian President Tam¡s Schuyok, Trend reports.

According to Trend News Agency, last year, the trade turnover between the two countries amounted to about $200 million. Over the past 20 years, Hungary has invested more than $385 million in Kazakhstan’s economy. The Kazakh president highlighted the successful operations of Hungary’s MOL company in Kazakhstan’s gas sector and mentioned other large-scale projects currently in development.

Major corporations such as UBM Group, Gedeon Richter, and Globalia are also active in Kazakhstan. At present, 20 joint projects are being implemented. Kazakhstan is interested in expanding investment cooperation, and in this regard, both countries have agreed to strengthen collaboration in areas such as energy, nuclear industry, and agriculture.