Islamabad: The Hungarian Ambassador to Pakistan Mr. Istvan Szabo said that Pakistan and Hungry will sign Economic Cooperation Agreement during the upcoming visit of Minister for Commerce, Engr. Khurram Dastgir Khan to Hungry and Hungarian Government has already forwarded the details of agreement with Pakistan to the European Union for their comments.
Hungarian Envoy shared this during a meeting with Minister for Commerce, Engr. Khurram Dastgir Khan on Wednesday in Islamabad. Mr. Istvan Szabo also informed the Minister that Hungary is opening its business office in Karachi which would be helpful in establishing business to business contacts and provide first hand opportunities of trade and investment arising in both countries.
Hungarian Envoy also handed over the invitation to Engr. Khurram Dastgir Khan to visit Hungary by the Minister of State of Economic Diplomacy of the Ministry of Foreign Affairs and Trade of Hungary Levente Magyar.
On the occasion Minister for Commerce, Engr. Khurram Dastgir Khan said that Pakistan would hold trade exhibition and a business forum in Hungary to enhance Pakistan’s exports in the Eastern part of Europe. Khurram Dastgir informed the Ambassador that Pakistan lacked investment in the agricultural technology, food processing, dairy processing, infrastructure building, renewable energy, information technology, water management and transportation and waste management and the Hungarian companies could benefit from that.
Hungary Envoy said his country also providing 80 scholarships to Pakistani students in order to impart the technical expertise achieved by the Hungarian institutions and to link up the people of two countries. The Ambassador informed the Minister that the Hungarian Export Import (Exim) Bank was open for credit lines which would provide the crucial financial facility for enhancing mutual trade.
Hungarian Ambassador to Pakistan Mr. Istvan Szabo said that since the visit of the Minister of Economic Diplomacy of Hungary Mr. Levente Magyar there is a growing impression in Hungary that Pakistan’s economy had stabilized and countries Like Hungary could complement Pakistan’s trade and investment potential. He said that these was an increased interest among Pakistani businessmen to trade with Hungary as was evident from the business visas which increased 10% last year.
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