Pakistan plans to hold trade fair in Hungary

Seeks investment in agro-technology, food processing, clean energy.

ISLAMABAD: Pakistan has planned to organise a trade exhibition and business forum in Hungary in a bid to enhance exports to the eastern European country.

Commerce Minister Khurram Dastgir Khan stated this in a meeting with Hungary Ambassador Istvan Szabo in Islamabad, according to a press release issued on Friday.

He encouraged Hungarian companies to take benefit of investment opportunities in agricultural technology, food processing, dairy processing, infrastructure building, renewable energy, information technology, water management, transportation and waste management, where investment was currently lacking.

The ambassador pointed out that since the visit of Hungary’s minister of economic diplomacy a perception was growing in Hungary that Pakistan’s economy had stabilised and different countries could complement the South Asian nation’s trade and investment potential.

He told Khan that the Hungarian Export Import Bank was open for credit lines that would provide a crucial financing facility for enhancing trade between the two countries.

“There is an increased interest among Pakistani businessmen to trade with Hungary and it is reflected in the business visas that increased 10% last year,” he said.

Hungary is opening its business office in Karachi that will be helpful in establishing business-to-business contacts and provide first-hand opportunities of trade and investment arising in both countries.

Hungary is also providing 80 scholarships to Pakistan students in order to impart technical expertise achieved by Hungarian institutions and to link people of the two countries.

The ambassador suggested that the two sides could sign the Economic Cooperation Agreement as the Hungarian government had already forwarded the agreement to the European Union for comments.

He handed over an invitation to Khan for a visit to Hungary from Minister of State of Economic Diplomacy of the Ministry of Foreign Affairs and Trade Levente Magyar.

Published in The Express Tribune, June 18^th, 2016.

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