Pak looking for new ways to enhance investments from Hungary: Envoy


WITH a view to further promote Pakistan-Hungary bilateral trade, the Embassy of Pakistan in Budapest is on the look for new opportunities and ways to enhance investments from Hungary to Pakistan; identify opportunities for promoting Pakistan’s quality exports; and pin-point most potential sectors for joint ventures between suitable Hungarian and Pakistani companies for technology transfers.

These views were expressed by Pakistan ambassador in Hungary Dr. Muhemmed Aejaz, while addressing a webinar organized by the All Pakistan Business Forum. He said Pakistan was one of the important trade partners of Hungary and both countries have the ability to further strengthen mutual trade and economic ties.

Among other leadership and office-bearers, APBF President Syed Maaz Mahmood, APBF founding chairman and Chairman PIEDMC Syed Nabeel Hashmi, Mian Haseeb Safdar, Amir Munir, Amir Ata Barry, Haroon Ali Khan, Muhammad Naeem, Yaqoob Saifi, Dr. Saman Yazdani, Mian Haseeb Safdar, Salman Asif, M.S. Baber, Asif Rafiq Rajwana, Faisal Saleem, Manzoor ul Haq Malik and Mr. Zeeshan Sandal also participated the seminar.

The Pakistan ambassador in Hungary appreciated the APBF board members and gave a comprehensive briefing about the significant business opportunities existing between Pakistan and Hungary.

The Ambassador said that under the vision of  Foreign Minister of Pakistan Shah Mehmood Qureshi to use all available economic diplomacy tools to make Pakistan economically self-reliant, he has been engaging with leading Hungarian authorities and business entities on a regular basis.

Dr. Muhemmed Aejaz said efforts were required to transform cordial and brotherly relations into two-way trade for enhancing economic prosperity in both countries.

Ambassador informed that Hungary has made impressive progress in agriculture sector by introducing modern technology, research and good agricultural practices.

He said that Pakistan Embassy in Hungary is focused on a wide range of programs to collaborate with Hungarian business community including trade, education, public diplomacy, culture, gender equity, and development to seek good partners.

Dilating on the similarities between Pakistan and Hungary, Muhemmed Aejaz informed that like Pakistan, agriculture remains the foundation of Hungarian economy. The country has however, adopted a scientific approach and different modern technologies in making its agricultural practices efficient, with a much higher per acre yield. Pakistan can greatly benefit from Hungary’s experience in this regard.

“Hungarian development-experience model was very relevant for us, as it has successfully overcome all the road blocks, many of which were still serious issues in Pakistan.” The Ambassador therefore invited Pakistani companies to send their queries, and any new ideas on future collaboration with selected counterparts in Hungary in any of these or other areas.

Interestingly, both Pakistan and Hungary had strong production base available for producing products of international quality in these sectors. He reassured that the Embassy will provide maximum facilitation to anyone approaching with a serious interest towards promoting Pakistan’s trade and economic relations with Hungary. He also shared his personal coordinates with the members inviting them to contact him directly, if they so required.

APBF founding chairman and Chairman PIEDMC Syed Nabeel Hashmi said that we should promote engineering sector of Pakistan in Hungary due to its great potential.

APBF president Syed Maaz Mahmood, addressing the ceremony, said that the Forum through the Hungarian and Pakistani Embassies would arrange B2B meetings, conducting business delegation visits for sector specific match-making and interaction between development initiatives and the stakeholders. He said that these activities will also increase educational ties and support on social development, especially for the development of Women Entrepreneurs. This collaboration will promote, trade, health, education, culture, gender equity and other development programs in Pakistan, he added.

He said the Forum will extend full cooperation and support to strengthen trade and economic ties between Pakistan and Hungary.

He said that the APBF has already signed a Memorandum of Understanding (MoU) with the Embassy of Hungary in Pakistan in Feb this year to promote trade links through exchanges of business delegations to nurture closer understanding between Pakistan and Hungary.

“We are effectively striving to bring business leaders, chambers and associations on a united platform to endeavor for a strong and prosperous Pakistan with sustainable growth, ensured through effective policies followed in continuity, resulting in better quality of life for the people of Pakistan.”

President APBF informed that APBF has made numerous valuable contributions towards the progress and growth of the national economy. “We are making consistent efforts to identify and engage resourceful organizations and entrepreneurs to create new opportunities and mutual benefits through our shared values and wisdom.”