Pakistan, Hungary launch trade, economic window to boost commercial and economic linkages

ISLAMABAD: Pakistan and Hungary have launched a trade and economic window to boost their commercial and economic linkages.

Foreign Minister Shah Mahmood Qureshi and his Hungarian counterpart Péter Szijjártó virtually launched the online platform on Thursday.

Speaking on the occasion, the Foreign Minister expressed the confidence that the window will further enrich their bilateral relations.

He said this will serve as the round the clock online platform to provide credible information and guidance for respective businesses and entrepreneurs.

The Foreign Minister said Pakistan deeply values its relations with Hungary both bilaterally and within the European Union. He said it is a matter of satisfaction that despite ongoing pandemic, the two sides have been working together to further cement their economic partnership.

Emphasizing the need for further consolidating partnership through high level and private sector exchanges, he said Pakistan looks forward to the second session of Pakistan-Hungary Joint Commission on economic cooperation in Islamabad this year.

Alluding to the investment opportunities in Pakistan, the Foreign Minister said all the economic sectors are open for investment. He said the Hungarian companies are welcomed to explore joint ventures with Pakistani counterparts.

He said the Hungarian companies can invest in special economic zones as well as the renewable energy, information technology, electric vehicles and tourism. He pointed out that there is a also a great scope of cooperation in the agriculture sector.

The Foreign Minister said Pakistan has also eased visa requirements and the businessmen including those from Hungary can avail visa on arrival facility. The tourists are also being facilitated through online visa.

Shah Mahmood Qureshi said several European countries have revised their travel advisory for Pakistan after improvement in security situation and the economic and structural reforms undertaken by the present government.

He hoped Hungary will also revise its travel advisory for Pakistan in order to improve the linkages.