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May 03, 2019

FM: Central Europe has a clear interest in good ties between East and West

The foreign minister said good ties embrace the opportunity for meaningful dialogue and a mutually beneficial Eurasian economic cooperation

The foreign minister has declared that Central Europe has a clear interest in good ties between East and West.

After receiving his Kyrgyz counterpart on Thursday, Péter Szijjártó, Minister of Foreign Affairs and Trade, said good ties embrace the opportunity for meaningful dialogue and a mutually beneficial Eurasian economic cooperation.

Minister Szijjártó said both countries are active participants of the Chinese Belt and Road initiative, now one of the world’s largest economic development schemes and a key guarantee of free trade.

Minister Szijjártó noted that last year Hungary secured observer status in the Turkic Council whose European representation would soon be located in Budapest. This will open up opportunities in Budapest to establish fresh economic, commercial, cultural and educational cooperation with Turkey and Central Asian countries such as Kyrgyzstan.

The minister pointed out that Hungarian economic interests were clearly identifiable in Kyrgyzstan. Pharmaceuticals account for 90 percent of Hungarian exports worth over 10 million US dollars, while water technology also provides an area of opportunity for Hungarian businesses.

According to MTI, a 30 million dollar Eximbank credit line has been opened to provide financial support for bilateral business cooperation. Also talks on an investment protection agreement and a pact on avoiding double taxation are ongoing.

Finally, the minister said Hungary backs Kyrgyzstan’s application to the UN Security Council, underscoring the important role played by Kyrgyzstan in the fight against terrorism.