September 21st, 2012

Hungary to set up joint fund with Kazakhstan as part of overtures to east, says Szijjártó

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Close economic and strategic cooperation is a key to Hungary’s policy of opening up towards the east, said Peter Szijjarto, state secretary in charge of foreign affairs at the PM’s office, flagging a Hungary-Kazakhstan fund as a part of the strategy.

Of the CIS member countries, Hungary seeks to intensify links with Kazakhstan, Azerbaijan and Georgia in different ways, Szijjarto told public television M1’s morning programme Ma reggel on Thursday.

The joint fund with Kazakhstan will support the operation of joint ventures, Szijjarto said.

He noted that the Kazakh president had first raised the idea to Ferenc Gyurcsany’s government, which had rejected it.

In Georgia Hungary has a good chance of taking part in infrastructure projects, he said, noting that the airport of Georgia’s second biggest city was a project in which five Hungarian firms were implementing 60-70 percent. To be inaugurated next week, this will create a good reference for further orders, he said.

He also said Hungarian companies were poised to break into the Azerbaijani market with products and services.

MTI (Magyar Távirati Iroda) is the Hungarian news agency.
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  • wolfi

    Any Kazach criminals in Hungary to be sent home ?

  • Leto مؤدّب

    “The Kazakh president first raised the idea of setting up a joint fund with Kazakhstan to support the operation of joint ventures to Ferenc Gyurcsany’s government which had rejected it.”

    Yeah, that’s because Gyurcsány served the Russians eagerly* who regard Kazakhstan as their backyard.

    An article from 2009 when eventually Gyurcsány had to leave from power:
    “The purchase of the MOL share packet is obviously connected to the Hungarian political crisis. The Russians resigned themselves to that Gyurcsány and his circles could not stay in power any longer and they acted quickly, fearing that a possible Fidesz-government would prevent this purchase”
    -http://index.hu/gazdasag/magyar/2009/04/01/gyurcsany_tavozasa_miatt_vettek_az_oroszok_a_mol-bol_/

    * in fact this was the reason the EU and USA circles withdrew their protective hand for Gyurcsány by 2009

    Ceterum censeo MSZP delendum est.

  • Aloof

    Yeah, that’s because Gyurcsány served the Russians eagerly* who regard Kazakhstan as their backyard.

    The Russians and Kazakhstan have a real good relationship right now along with China, the US and many major EU countries. Russians are still pissed at Hungary over Azerbijan anyway.

    Kazakhstan is an amazing place. Largest land locked country on earth and larger than western europe. Hungary should absolutely be doing long term business with these guys. Best of luck on their endeavours.

  • Focus on the bigger picture

    More importantly MOL’s 49% partner share in a JV with Kazmunaigaz.
    MOL and Kazmunaigaz E&P will now form a joint venture to conduct further exploration work at North Karpovsky. Located onshore in the West Kazakhstan region in the vicinity of Uralsk, the block contains an estimated 240 million barrels of oil equivalent. The work plan includes the drilling of two deep sub-salt exploration wells. Commercial production is expected to start in 2015. (MOL and Kazmunaigas news releases, July 19).

    • Aloof

      Well that’s good. Maybe Hungary can start recouping some of that 240 BN HUF and counting that they’ve lost so far with MOL.

  • Viking

    The joint fund with Kazakhstan will support the operation of joint ventures, Szijjarto said.

    He noted that the Kazakh president had first raised the idea to Ferenc Gyurcsany’s government, which had rejected it
    —

    Well, I have been somewhat involved in Hungarian State-owned companies doing business in Kazakhstan
    Or more correctly – trying to do business in Kazakhstan

    This is mid-90s, so it should have been under the MSZP-controlled Government, and this Hungarian State-owned company had just won a tender for a monopoly-operation in Kazakhstan.
    So the detailed negotiations starts, you know what does this licence actually mean and how much and how fast should the Hungarians deliver?

    After months of negotiations, the Hungarian-side decided to walk away from discussions, monopoly-license and all, then there was no way this Hungarian State-owned company could facilitate the 10% fee on gross turnover to be paid out to the President’s (same guy still!) private account

    This type of operation is strictly controlled and regulated and one can only siphon off money by lucrative contracts as supplier, ads are a typical product of this, but these sums requested by the Kazakh were out of this world

    So, best of luck PimpMaster Whorban, but I think you will get cheated before coming even to 1st base, then the same guys running the Kazakh circus are still there!

    * The Fidesz-controlled Hungarian State News Agency MTI lies to us using tax payers money*

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