Pakistan and Hungary have agreed to expedite the establishment of a Joint Economic Commission and signing of various agreements including Economic Co-operation Agreement, Investment Promotion, Cultural Exchange Programme and visa Abolition for diplomatic and official passport holders.
This was said in a joint press conference by Foreign Minister Khurshid Mahmood Kasuri and the visiting Hungarian Foreign Minister Kinga Goncz, after their formal talks at the Foreign Office on Tuesday.
They said that the two countries agreed on the need for regular high level contact and enhancing co-operation in the international fora, and have signed an agreement for "Regular Political Consultations and International Co-operation"
The two foreign ministers said that "Hungarian companies have invested in Pakistan and are keen to enhance this co-operation, including MOL, which is participating in the privatisation of Pakistan Petroleum Limited (PPL). MOL would also be signing an agreement for oil and gas exploration.
However, they said there is yet vast untapped potential for enhancing trade (currently 150 million dollar) and investment co-operation which both the countries are keen to explore.
During the talks, they reviewed bilateral relations, with a view to enhancing co-operation in a range of areas, particularly trade and commerce. "We also discussed international issues of mutual interest including Pakistan-India relations and the composite dialogue, Afghanistan, Iran, Iraq, Middle East and UN Reforms, Kasuri said.
He said that Hungary is an important Central European country, which has become a member of EU, Nato and OECD. Hungary's successful transition to market economy and excellent economic performance is commendable.
"Within the context of the EU, we discussed the need for enhanced market access for Pakistan and operationalisation of the Third Generation Agreement (TGA) between Pakistan and the EU. Foreign Minister Goncz has kindly agreed to support us on both these issues." Kasuri stated. He said,"we discussed Afghanistan at length. I briefed Minister Goncz on Pakistan's continued support to the Bonn process and security and reconstruction of Afghanistan."
Foreign Minister Kinga Goncz appreciated Pakistan's strategic location and its pivotal role in enhancing peace and stability in the region. Hungary has also contributed troops to Isaf peacekeeping operations and Provincial Reconstruction Teams (PRTs).
She said that a stable, peaceful and prosperous Afghanistan is in vital interest to the countries in the region and the world at large. "The world peace depends on peace and stability of this region" she emphasised.
Goncz said that "Hungary understands Pakistan's need for nuclear energy for its growing economy as Hungary itself gets 40 percent of its electricity from the nuclear power plants."