Pakistan-Hungary to Boost Bilateral Trade – Research Snipers

Pakistan-Hungary to Boost Bilateral Trade

bilateral trade

Istvan Szabo—the Hungarian Ambassador called on the Advisor of the Prime Minister—Imran Khan on Commerce—Abdul Razak Dawood in the federal capital on Friday for discussing the bilateral trade problems relating trade and investment.

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

It was noted in the meeting that the major exports of Pakistan to Hungary include medial apparatus, cotton, textile goods, and leather. It was also informed that Hungary had already made an investment in the oil and gas sector of Pakistan while one of its firm, MOL, is efficiently operating with the assistance of local partners.

Also Read: Malaysian PM to be The Chief Guest on Pakistan Day Ceremony

The Hungarian ambassador offered to provide technical aid in the agriculture division.

He added that Hungary had made good progress in the sector of agriculture by introducing research, modern technology and effective agricultural practices.

Both the countries agreed to promote bilateral trade via a proactive approach and improved engagement.

It is important to mention that agriculture plays a major role in the life of the economy of Pakistan, as it makes up for nearly 20 percent of GDP. Agriculture not just provides food and raw material but also gives employment opportunities to a very large chunk of the population too. However, sadly the agricultural sector has been performing far below than its potential owing to a number of problems.

More Read: Middle Class of Pakistan a Potential Market for the French Companies