Hungary wishes to upgrade economic partnership with Pakistan

04:54 PM | 30 Apr, 2021
Hungary wishes to upgrade economic partnership with Pakistan

ISLAMABAD – Hungary has a strong desire to upgrade the economic partnership with Pakistan, Minister of Foreign Affairs and Trade of Hungary Peter Szijjarto said during his visit to the South Asian country on Friday.

Addressing Pakistan-Hungary Economic Diplomacy event in Islamabad, the Hungarian minister said his country attaches special importance to this region because of cultural and historical similarities as well as the security reasons.

"Hungary really values and respects the contributions that Pakistan has been making to ensure security and stability of the region," Mr Szijjarto said as he commended the efforts undertaken by Pakistan to check the spread of Covid-19.

In his remarks, Foreign Minister Shah Mahmood Qureshi expressed the confidence that the visit of his Hungarian counterpart along with a business delegation would mark a new era in the bilateral economic relationship. A Pakistani business delegation will also soon visit Hungary, he added.

Qureshi further said Pakistan is eager to have a detailed engagement with Hungary at the experts' level to benefit from its experiences in different areas including agriculture, water resource management, environment and urban development solutions. "Pakistan is a huge market for the Hungarian companies to expand their businesses. There is opportunity for Hungarian waste management companies to invest in Pakistan," he pointed out.

The Pakistani minister hoped the business community of both the countries would engage profitably with each other to bolster the bilateral trade.

Later, the businessmen from both sides signed a number of MOUs for cooperation in different fields, including agriculture, food, environment, water resources, engineering, vocational training and urban planning.