Islamabad: Minister for Foreign Affairs and Trade of Hungary, P©ter Szijj¡rt³, has articulated Hungary’s firm intention to expand its cooperation with Pakistan, particularly in the fields of economy and trade. This announcement was made during his address at the Pakistan-Hungary Business Forum held in Islamabad on Thursday.
According to Radio Pakistan, P©ter Szijj¡rt³ expressed optimism that the business-to-business (B2B) meetings scheduled between the two nations would be fruitful. He revealed that the two countries are on the verge of signing an agreement focused on the mutual protection of investments. Additionally, they are preparing to finalize an aviation agreement to facilitate direct air connections between Hungary and Pakistan. Szijj¡rt³ also reiterated Hungary’s support for Pakistan’s continued participation in the GSP+ scheme beyond 2027.
Minister for Commerce, Jam Kamal Khan, shared his belief that the B2B engagements would pave the way for significant partnerships and enduring ventures with Hungary. He highlighted Pakistan’s progress in enhancing its trade and investment climate, noting ongoing regulatory and policy reforms aimed at improving business ease, attracting foreign investment, and fostering infrastructure conducive to sustainable growth.
Kamal Khan elaborated on efforts to develop a national tariff policy with a focus on tariff rationalization to encourage business activities in Pakistan. He also mentioned initiatives to advance e-commerce and the digital economy. The Commerce Minister emphasized Pakistan’s appeal as a promising destination for foreign investors, acknowledging Hungary’s technological expertise and innovation as valuable assets for mutually beneficial collaboration.
Earlier in the day, P©ter Szijj¡rt³ arrived in Islamabad for his official visit, where he was greeted by Additional Secretary Europe Muhammad Ayyub, the Ambassador of Hungary, and other senior officials.