Pakistan looking for ways to enhance investments from Hungary: envoy

LAHORE: With a view to further promote Pakistan-Hungary bilateral trade, the Embassy of Pakistan in Budapest is on the look for new opportunities and ways to enhance investments from Hungary to Pakistan.

The Embassy is also working to identify opportunities for promoting Pakistan's quality exports and pin-point most potential sectors for joint ventures between suitable Hungarian and Pakistani companies for technology transfers. These views were expressed by Pakistani Ambassador in Hungary Dr Muhammad Aejaz, while addressing a webinar organized by the All Pakistan Business Forum.

Dr Muhammad Aejaz said Pakistan was one of the important trade partners of Hungary and both countries have the ability to further strengthen mutual trade and economic ties. He said efforts were required to transform cordial and brotherly relations into two-way trade for enhancing economic prosperity in both countries. Pakistan Embassy in Hungary is focused on a wide range of programmes to collaborate with Hungarian business community including trade, education, public diplomacy, culture, gender equity, and development to seek good partners.

Dilating on the similarities between Pakistan and Hungary, he said that like Pakistan, agriculture remains the foundation of Hungarian economy. The country has, however, adopted a scientific approach and different modern technologies in making its agricultural practices efficient with a much higher per acre yield. Pakistan can greatly benefit from Hungary's experience in this regard.

"Hungarian development-experience model was very relevant for us as it has successfully overcome all the road blocks, many of which were still serious issues in Pakistan." He asked the Pakistani companies to send their queries, and any new ideas on future collaboration with selected counterparts in Hungary.

APBF president Syed Maaz Mahmood said that the Forum through the Hungarian and Pakistani Embassies would arrange B2B meetings, conducting business delegation visits for sector specific match-making and interaction between development initiatives and the stakeholders. APBF founding chairman and Chairman Punjab Industrial Estate Development and Management Company Syed Nabeel Hashmi also spoke on the occasion.

Copyright Business Recorder, 2020