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Pakistan, Hungary hold 5th round of Bilateral Political Consultations

Hungary and Pakistan held the 5th Round of Bilateral Political Consultations (BPC). In a statement issued MOFA Spokesperson said that both sides agreed to strengthen cooperation in economic, trade, investment, industry, agriculture, water resource management, information technology, and energy fields.

In March this year, Foreign Minister Shah Mehmood Qureshi and Foreign Minister of Hungary Mr. Peter Szijjarto jointly inaugurated the Hungary-Pakistan Trade and Economic Window (HPTEW) and the first Hungary-Pakistan business forum today. The event was held online.

Foreign Minister Qureshi, in his welcome remarks, underlined the importance Pakistan attached to Hungary, both bilaterally, and within the EU. Focusing specifically on enhancing bilateral trade and economic ties, the Foreign Minister invited Hungarian companies to take advantage of the investor-friendly climate in Pakistan to enter into joint ventures with Pakistani companies, especially in the SEZs under the CPEC.

He welcomed Hungarian expertise in the fields of agriculture and food, environment, water resource management, engineering, vocational training, and urban planning. Appreciating the improving economic cooperation between Pakistan and Hungarian businesses, despite CoVID-19, the Foreign Minister also highlighted the importance of collaboration in the fight against the pandemic.

The Hungarian Foreign Minister agreed with Foreign Minister Qureshi that boosting linkages in all areas, particularly the economy, trade, and enhanced people-to-people exchanges, would lead to fully realizing the economic potential between the two countries. Foreign Minister Szijjarto said that Hungary’s policy of opening towards the East would provide a good impetus to Pakistan-Hungary relations.

Foreign Minister Qureshi also extended an invitation to the Hungarian Foreign Minister to visit Pakistan at his earliest convenience.

The online event was jointly organized by the All Pakistan Business Forum, Hungarian Export Promotion Agency, Embassy of Hungary in Islamabad, and the Pakistan Embassy in Budapest. More than 100 well-reputed Hungarian and Pakistani companies attended the event.

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