Kazakhstan and Hungary to establish joint financial fund
"Today, we are planning to sign an agreement between the two governments. One of the agreements will provide for establishing a strategic Council. This means that political cooperation will further improve," said Mr. Szijjártó. He noted that the second document is related to the creation of a joint financial fund. "At the first stage the joint fund will attract $20 million from both sides. It will serve as a basis for financial cooperation between companies of the two countries, " he added. In addition, according to Mr. Szijjártó, there will be opened a credit line for companies willing to collaborate. "I have already instructed Eximbank of Hungary to open credit lines for companies willing to cooperate. The credit line of $50 million will operate for cooperation between companies of Kazakhstan and Hungary. I urge Kazakhstani businesses to invest in Hungary. We can offer you very favorable investment packages, cash grants, subsidies for training and creation of jobs, " stressed Minister of Foreign Affairs and Trade of Hungary. Following the forum it is planned to ink a number of memoranda of collaboration in oil and gas, trade and finance, medical equipment, training and development of human resources. Memorandum of cooperation in the field of training and development of human resources will be signed by JSC "KazMunaiGas" and «MOL Hungarian Oil and Gas Plc» company; an intention memo was inked by representatives of JSC "EP" KazMunaiGas", JSC «MOL Hungarian Oil and Gas Plc», "FIOK" company, LLP "Ural Oil and Gas", as well as LLP "Zhaikmunaygaz"; a cooperation agreement has been concluded by "Hungarian Fur Trade Organization" and "Kazakhstan fur trade and industry association".
