Pakistan, Hungary agree to enhance bilateral trade

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  • Envoy says meeting of Pak-Hungary Joint Economic Commission will be held in Sept this year in Budapest

ISLAMABAD: Hungarian Ambassador István Szabó called on Advisor to Prime Minister on Commerce Abdul Razak Dawood in Islamabad on Friday to discuss the bilateral issues pertaining to trade and investment.

The ambassador informed the advisor that a meeting of Pak-Hungary Joint Economic Commission would be held in September this year in Budapest, Hungary.

The meeting noted that Pakistan’s major exports to Hungary included cotton, medical apparatus, leather and textile goods. It was informed that Hungary had already invested in the oil and gas sector of Pakistan while its company, MOL, is operating efficiently with the help of local partners.

The Hungarian envoy offered technical assistance in the area of agriculture. He said Hungary had made impressive progress in the agriculture sector by introducing modern technology, research and good agricultural practices.

Both sides agreed to boost bilateral trade through a proactive approach and improved engagement.

It is pertinent to mention that agriculture plays a pivotal role in the life of Pakistan’s economy, as it accounts for around 20pc of GDP. Agriculture not only furnishes food and raw material but also employment opportunities to a very large proportion of population as well. However, the agriculture sector has been performing far below its potential due to a number of issues.

 

 

2 COMMENTS

  1. Pakistan is a State Sponsor of Terrorism.
    Pakistan harbours many United Nations Listed Terror Organizations.
    Pakistan is a Radical Islamic Security State.

    Pakistan’s business environment is Extremely Corrupt.
    Pakistan is at the very top of global perception of corruption indices.

    It is very unsafe to travel to Pakistan.
    Pakistan is perpetually in an economic crisis.

    Many foreign investors have lost their money in Pakistan due to Corrupt Government, Corrupt Islamic laws and Corruption in judiciary.
    Pakistan has a large number of cases related to fraud and embezzlement pending against Pakistani state and Pakistani businesses in the International Courts !!

    Conclusion:
    It is best for Hungarians NOT to invest in a corrupt Pakistani business environment and an effectively FAILED State of Pakistan !!

  2. This is not true-every thing is favourable for investors in Pakistan,. Government of Pakistan is fully stable and is fully sporting the foreign investers- This is the right time for investment in Pakistan –

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