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PM for developing strong Pakistan-Hungary economic relationship

ISLAMABAD: Prime Minister Imran Khan on Friday (30th of April) underlined the importance of developing a strong economic relationship commensurate with friendly bilateral ties between Pakistan and Hungary and the potential of the two countries.

He stressed the need for expanding beneficial cooperation in trade, energy, water resource management, food and agriculture, science and technology, and higher education. The prime minister expressed these views during a meeting with Hungary’s Minister for Foreign Affairs and Trade Péter Szijjártó, who called on him here. He also impressed upon the Hungarian business community to take advantage of the business friendly climate of Pakistan and bring further investment into the country. Views were exchanged on the adverse economic impact of Covid-19 pandemic. The prime minister appreciated the Government of Hungary’s efforts in vaccinating its population. He underlined that Pakistan’s efforts have been aimed at ensuring saving people from dying from the virus, and at the same time preventing them from dying from hunger, by stimulating the economy.

On Afghanistan, the prime minister reiterated his conviction that there was no military solution to the conflict and that a negotiated political settlement was the only way forward.
He underscored the importance of responsible withdrawal and steady progress by the Afghan parties towards a political solution. The prime minister added that peace and stability in Afghanistan would yield other significant dividends including enhanced trade and regional connectivity. Foreign Minister Szijjártó thanked the prime minister for receiving him and conveyed greetings from the Hungarian Prime Minister Viktor Orban. He also briefed the prime minister on his Government’s foreign policy and economic priorities. Foreign Minister Szijjártó highlighted that he was accompanied by a high-level business delegation comprising 17 leading businessmen to explore business opportunities in Pakistan, which was a manifestation of growing economic ties with the country.

The prime minister renewed his invitation to Hungarian Prime Minister Viktor Orban to undertake a visit to Pakistan, while Foreign Minister Szijjártó extended an invitation to the prime minister to visit Hungary. Peter Szijjarto whilst addressing Pakistan-Hungary Economic Diplomacy event here said his country attached special importance to this region because of cultural and historical similarities as well as the security reasons. He said Hungary really values and respects the contributions that Pakistan has been making to ensure security and stability of the region. He also commended the efforts undertaken by Pakistan to check the spread of Covid-19.

In his remarks, Foreign Minister Shah Mahmood Qureshi expressed the confidence that the visit of Hungarian Foreign Minister accompanied by a business delegation will mark a new era in the bilateral economic relationship. He said a Pakistani business delegation will also soon visit Hungary. Shah Mahmood Qureshi said Pakistan was eager to have a detailed engagement with Hungary at the experts’ level to benefit from its experiences in different areas including agriculture, water resource management, environment and urban development solutions. He said Pakistan was a huge market for the Hungarian companies to expand their businesses. According to him There is opportunity for Hungarian waste management companies to invest in Pakistan. He hoped the business community of both the countries would engage profitably with each other to bolster the bilateral trade.

Referring to the investment friendly policies of the government and the country’s economic performance, Foreign Minister Qureshi said we have further liberalized the investment policy for the benefit of investors. Nine special economic zones are in different stages of development under the CPEC and are open for investments including for the Hungarian companies. He said Pakistan has introduced a liberalized visa regime and e visa policy to facilitate the travel of businessmen. The Foreign Minister said economic diplomacy is a major component of Pakistan’s foreign policy. He said we are crafting new avenues of partnership with the rest of the world. Later, the businessmen from both sides signed a number of MOUs for cooperation in different fields.

With input from Radio Pakistan | YouTube Channel

M M Alam

M. M. Alam is a Pakistan-based working journalist since 1981. Karachi University faculty gold medalist Alam began his career four decades ago by writing for Dawn, Pakistan’s highest circulating English daily. He has worked for region’s leading publications, global aviation periodicals including Rotors (of USA) and vetted New York Times as permanent employee of daily Express Tribune. Alam regularly covers international aviation and defense-related events including Salon Du Bourget (France), Farnborough (United Kingdom), Dubai (UAE). Alam has reported thousands of events and interviewed hundreds of people in Pakistan, UAE, EU, UK and USA. Being Francophone Alam also coordinates with a number of French publications.