Pakistan, Hungary launch trade and economic window

ISLAMABAD: Foreign Minister Shah Mehmood Qureshi and his Hungarian counterpart Peter Szijjarto jointly inaugurated ‘Hungary-Pakistan Trade and Economic Window’ on Thursday.

Qureshi, in his remarks, underlined the importance Pakistan attaches to Hungary, both bilaterally, and within the EU. Focusing specifically on enhancing bilateral trade and economic ties, he 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.

The foreign minister 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, he highlighted the importance of collaboration in the fight against the pandemic.

The Hungarian FM agreed with Qureshi that boosting linkages in all areas, particularly the economy, trade and enhanced people-to-people exchanges, would lead to fully realizing the economic potential between the two countries.

Foreign Minister Szijjarto said that Hungary’s policy of opening towards East would provide a good impetus to Pakistan-Hungary relations. Qureshi also extended an invitation to the Hungarian counterpart to visit Pakistan.