Pakistan, Hungary for accelerating bilateral trade, investment

LAHORE: Pakistan is one of the important trade partners of Hungary and both the countries have the ability to further strengthen mutual trade and economic ties.

Dr Istavan Grafi, Commercial Counselor of Hungarian Embassy in Pakistan, stated this while talking to a team of All Pakistan Business Forum (APBF). The APBF team which met him here in his office consisted of APBF President Syed Maaz Mahmood, Secretary General Khurram Niaz Khan and APBF Lahore Board President Aamir Munir discussed the roadmap for developing a platform to increase the bilateral trade between the two countries.

In an interactive meeting, Dr Istavan Grafi said that efforts were required to transform cordial relations into two-way trade for enhancing economic prosperity in both the countries. The commercial counselor dilated on the similarities between Pakistan and Hungary, saying 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. He said his Embassy is focused on a wide range of programmes to collaborate with Pakistan including trade, education, public diplomacy, culture, gender equity, and development to seek good partners.

Both the sides agreed to continue boosting bilateral trade and investment through proactive approach and improved engagement. The Hungarian side offered technical assistance in the areas of agriculture, livestock, fisheries and food processing.

APBF President Syed Maaz Mahmood said the APBF is already working with the Hungarian Embassy in Pakistan and committed to making this relationship stronger in future. He said that the APBF has earlier signed a Memorandum of Understanding with the Embassy of Hungary to promote trade links through exchanges of business delegations to nurture closer understanding between Pakistan and Hungary.

Copyright Business Recorder, 2021