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

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

The Foreign Minister Shah Mahmood Qureshi and his Hungarian Counterpart Péter Szijjártó virtually launched the online platform.

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

Qureshi said that 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 that Pakistan deeply values its relations with Hungary both bilaterally and within the European Union.

Shah Mahmood Qureshi said that it is a matter of satisfaction that despite the ongoing COVDI-19 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 that Pakistan looks forward to the second session of the 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 that the Hungarian Companies are welcomed to explore joint ventures with Pakistani Counterparts. He said the Hungarian Companies can invest in Special Economic Zones (SEZs) as well as renewable energy, information technology, electric vehicles, and tourism. He pointed out that there is also a great scope of cooperation in the agriculture sector.

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

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

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

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