Local businessmen asked to exploit untapped trade potential of Hungary

November 26, 2019: Pakistan’s Ambassador-designate for Hungary Muhammad Aejaz Tuesday said that Pakistan’s exporters should try to exploit untapped potential to improve country's exports to Hungary.

He said this while addressing business community during his visit to Islamabad Chamber of Commerce and Industry.

He said that Pakistani rice, furniture, carpets and many other products have great potential in Hungarian market and stressed upon the Pakistani exporters to exploit this untapped potential of Pakistani goods for improving the country's exports to Hungary.

Muhammad Aejaz said that Hungary was getting 13 percent of its total imports from Asia that offered good prospects to Pakistani exporters to get better market share in Hungary.

He said that Pakistani business community should organize single country exhibitions in Hungary to introduce quality and potential of their products there and assured that his embassy would cooperate with them in such efforts.

He said that Hungary was providing scholarships to 200 Pakistani students every year that would improve people to people contacts leading to expansion of trade volume as well.

He assured that he would meet with trade bodies of Hungary to find out demand of Pakistani products and share the same information with ICCI so that Pakistan’s private sector could take benefit of all possible business opportunities with Hungary.

Speaking on the occasion Muhammad Ahmed Waheed, President, Islamabad Chamber of Commerce and Industry (ICCI) said that Pakistan badly needed to promote exports to revive its economy and added that Pakistani missions in foreign countries have an important role in increasing exports.

He stressed that Pakistani missions abroad should identify demand of Pakistani products in their respective markets and share such information with home country chambers of commerce and industry so that Pakistani exporters could take advantage of all possible opportunities of exports promotion.

He emphasized that Pakistan embassy in Hungary should share information about top 10 imports of Hungary with ICCI that would enable the private sector explore increasing its share in such imports.

Tahir Abbasi, Senior Vice President and Saifur Rahman Khan, Vice President ICCI said that a Hungarian company has already invested in oil and gas sector of Pakistan and stressed that Pakistani embassy in Hungary should try to attract more investors from Hungary to explore JVs and investment in Pakistan.

APP