Pakistan, Hungary launch trade, economic window to boost linkages

Mohammad Arshad

Pakistan and Hungary, Thursday, launched a trade and economic window to boost their commercial and economic linkages.

Foreign Minister Shah Mehmood Qureshi and his Hungarian counterpart Peter Szijjarto jointly inaugurated virtually launched the online platform Hungary-Pakistan Trade and Economic Window and first Hungary-Pakistan Business Forum.

Speaking on the occasion, the foreign minister expressed the confidence that the window will further enrich their bilateral relations.

He said this will serve as the round the clock online platform to provide credible information and guidance for respective businesses and entrepreneurs.

In his welcome remarks Qureshi underlined the importance Pakistan attached to Hungary, both bilaterally, and within the EU.

Focusing specifically on enhancing bilateral trade and economic ties, the Foreign Minister invited Hungarian companies to take advantage of the investor-friendly climate in Pakistan to enter into joint ventures with Pakistani companies, especially in the SEZs under the CPEC.

He welcomed Hungarian expertise in the fields of agriculture and food, environment, water resource management, engineering, vocational training and urban planning.

Appreciating the improving economic cooperation between Pakistan and Hungarian businesses, despite Covid-19, the Foreign Minister also highlighted the importance of collaboration in the fight against the pandemic.

Shah Mahmood Qureshi said it is a matter of satisfaction that despite ongoing pandemic, the two sides have been working together to further cement their economic partnership.

Emphasizing the need for further consolidating partnership through high level and private sector exchanges, he said Pakistan looks forward to the second session of Pakistan-Hungary Joint Commission on economic cooperation in Islamabad this year.

Alluding to the investment opportunities in Pakistan, the Foreign Minister said all the economic sectors are open for investment.

He said the Hungarian companies are welcomed to explore joint ventures with Pakistani counterparts. He said the Hungarian companies can invest in special economic zones as well as the renewable energy, information technology, electric vehicles and tourism.

He pointed out that there is a also a great scope of cooperation in the agriculture sector.

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