Péter Szijjártó, Minister of Foreign Affairs and Trade, addressed a meeting of the council of foreign ministers of the Organisation of Turkic States (OTS) in Bishkek on Wednesday.
Minister Szijjártó said annual trade between Hungary and OTS member states had climbed over EUR 5bn, rising 20pc in a year and by 350pc over 15 years.
He noted that Hungary had started building ties with OTS members close to 15 years earlier and had gained observer status in the OTS six years ago.
Minister Szijjártó said energy cooperation with OTS members had boosted Hungary's energy security, pointing to gas deliveries from Turkiye and Azerbaijan, as well as the start of production at a Kazakh gas field by Hungarian oil and gas company MOL.
Hungary has started the transfer of USD 100m pledged for the Turkic Investment Fund, while the OTS Drought Prevention Institute in Budapest has launched its first project, he added.
He said more than 5,000 students from OTS members had applied for the 1,040 scholarships Hungary offers each year to enrol at local universities.
Hungary will host an informal OTS summit in Budapest next year, he added.