Country seeks Hungarian investment

Envoy stresses need for promoting exports, forming joint ventures

With a view to further promoting Pakistan-Hungary trade, the embassy of Pakistan in Budapest is in search for new opportunities and ways to enhance investment by the European nation in Islamabad, said Pakistan's Ambassador to Hungary Muhemmed Aejaz.

Talking to officials of the All Pakistan Business Forum on Friday, the envoy stressed the need for identification of opportunities for promoting Pakistan's exports and pinpointing potential sectors for joint ventures between suitable Hungarian and Pakistani companies for technology transfer.

"Pakistan is one of the important trade partners of Hungary and both countries have the ability to strengthen mutual trade and economic ties," he said.

The ambassador added that under directives of Foreign Minister Shah Mehmood Qureshi to utilise economic diplomacy to turn Pakistan economically self-reliant, he had been engaging with leading Hungarian authorities and business entities on a regular basis.

Aejaz was of the view that the country needed to make efforts to transform cordial and brotherly relations with Hungary into two-way trade ties for enhancing economic prosperity in both countries.

The envoy informed businessmen that Hungary had made impressive progress in the agriculture sector by introducing modern technology, research and good farm practices.

He said Pakistani embassy in Hungary was focusing on a wide range of programmes to collaborate with the Hungarian business community including trade, education, public diplomacy, culture, gender equity and development.

Dilating on similarities between Pakistan and Hungary, Aejaz said agriculture was the foundation of Hungarian economy just like Pakistan.