Hungary companies planning to invest in Pakistan

Hungary’s big companies relating to food, technology, medical and IT were planning to invest in Pakistan, informed Hungary’s Foreign Minister Peter Szijjarto.

Pakistan and Hungary launched the ‘Trade & Economic Window’ for collaboration in diverse fields and explore joint ventures in energy, information technology, and tourism on Thursday.

As an important step of the Ministry of Foreign Affairs towards economic diplomacy, Foreign Minister Qureshi and his Hungarian counterpart Peter Szijjarto through video-link launched the Hungary-Pakistan Trade & Economic Window and also the first bilateral Business Forum.

Speaking at the occasion, Foreign Minister Qureshi said the opening of the Trade & Economic Window would strengthen cooperation between Pakistan and Hungary in a number of areas including energy, alternative energy, information technology, food, and tourism.

Qureshi announced that Pakistan was ready to host the second meeting of the Pakistan-Hungary Joint Economic Commission in near future.

He mentioned that the promotion of high-level ties between the two countries could increase the volume of bilateral trade.

To promote bilateral cooperation in food security, he said, Hungary’s Agricultural University was in touch with Pakistan’s Agriculture Council.