Pakistan, Hungary boost trade, business ties

February 07, 2025 (MLN): Pakistan and Hungary aim to enhance institutional linkages between business communities, facilitate trade delegations, and promote people-to-people exchanges to further strengthen economic ties.

This discussion took place during a meeting with a high-level Hungarian delegation led by Tamás Vargha, Deputy Minister of Defence and Co-Chair of the Pakistan-Hungary Joint Economic Commission, who visited the Special Investment Facilitation Council (SIFC).

The delegation was provided an overview of Pakistan’s evolving investment landscape, pro-business policies, and SIFC’s role as a one-window platform for facilitating strategic investments, according to the press release issued.

He emphasized Pakistan’s commitment to fostering an enabling environment for foreign investors, streamlining regulatory frameworks, and enhancing ease of doing business.

The discussions covered a wide range of bilateral cooperation trade opportunities, investment, and economic partnerships.

Both sides recognized the significant untapped potential for collaboration, particularly in industrial cooperation, technological exchange, and trade expansion.

The Hungarian delegation expressed strong interest in leveraging Pakistan’s strategic location, emerging markets, and growing economic sectors to enhance bilateral trade and investment.

Given Hungary’s expertise in technology, defense cooperation, and industrial development, both parties explored possibilities for joint ventures, knowledge-sharing initiatives, and sector-specific partnerships.

The Hungarian delegation acknowledged Pakistan’s strategic importance as a regional economic hub and a key player in global trade networks.

They recognized Pakistan’s investment-friendly policies, skilled workforce, and expanding industrial base as valuable assets for long-term economic engagement.

This high-profile engagement between SIFC and the Hungarian delegation marks a significant milestone in bilateral relations, setting the stage for greater economic and strategic collaboration.

Both sides reaffirmed the commitment to promote trade and investment and foster long-term partnerships across multiple sectors of the economy.

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