Hungary wants closer relations with Pakistan

History

The Hungarian Government wants to enhance its trade and economic relations with Pakistan as Hungary is considering exploring new trade markets with the concept of expanding the sphere of its trade for enhancing its business activities. Hungarian Ambassador in Pakistan, Istvan Szabo made these remarks while addressing at Islamabad Chamber of Commerce & Industry (ICCI). He has said that Hungary and Pakistan are enjoying cordial relations and are making adequate efforts to improve further bilateral economic relations. He said that Hungary had invested $1.4 billion in energy sector in Pakistan while volume of trade was $56 million in preceding year. The Ambassador said that MOL is the biggest Hungarian company in Pakistan engaged in oil, which is catering to 14 percent needs of Pakistan and providing jobs to around 600 people. He informed the meeting that Hungarian Government has taken the initiative to establish a school with the cooperation of MOL Pakistan which was aimed at brightening up the future of children of Khyber Pakhtunkhwa. István Szabó said that Schengen visa for businessmen could be applied through Hungarian Embassy in Islamabad, however, businessmen after visiting Hungary can also visit Schengen states. Speaking on the occasion, Haji Fazal Kadir Khan Shirani, President FPCCI said that there was a wide scope for economic cooperation between the two countries in various areas as both the countries have their own strengths that should be tapped.

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