PR No. 131 Islamabad: June 17, 2016.

Pakistan will hold trade exhibition and a Business Forum in Hungary in a bid to enhance Pakistan’s exports in the Eastern part of Europe, said the Minister for Commerce, Engr. Khurram Dastgir Khan while meeting with the Ambassador of Hungary H. E. Mr. Istvan Szabo in Islamabad.

The Ambassador informed the Minister that the Hungarian Export Import (Exim) Bank is open for credit lines which will provide the crucial financial facility for enhancing mutual trade.

He said that since the visit of the Minister of Economic Diplomacy of Hungary there is a growing impression in Hungary that Pakistan’s economy has stabilized and countries like Hungary can complement Pakistan’s trade and investment potential. He said that these is an increased interest among Pakistani businessmen to trade with Hungary as is evident from the business visas which increased 10% last year.

Mr. Dastgir informed the Ambassador that Pakistan lacks investment in the agricultural technology, food processing, dairy processing, infrastructure building, renewable energy, information technology, water management and transportation and waste management and the Hungarian companies can benefit from that.

Hungary is opening its business office in Karachi which 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 proving 80 scholarships to Pakistani students in order to impart the technical expertise achieved by the Hungarian institutions and to link-up the people of two countries.

The Ambassador informed the Minister that the two countries can sign Economic Cooperation Agreement on the latter’s visit to Hungary as the Hungarian Government has already forwarded the Agreement to the European Union for their comments.

Mr. Szabo handed over the invitation to Mr. Dastgir to visit Hungary by the Minister of State of Economic Diplomacy of the Ministry of Foreign Affairs and Trade of Hungary Mr. Levente Magyar.