ISLAMABAD: Ambassador of Hungary Bela Fazekas on Tuesday said that Budapest and Islamabad need to enhance bilateral trade and economic relations to get mutual benefits.
He expressed the remarks during a meeting with the delegation of President, Islamabad Chamber of Commerce and Industry (ICCI) led by its president Ahsan Zafar Bakhtawari here in Islamabad.
The ICCI delegation, visited the Embassy of Hungary in Islamabad to explore avenues for promoting bilateral trade and economic ties between Pakistan and Hungary.
Ambassador Bela Fazekas, welcoming the ICCI delegation said that Hungary and Pakistan need to increase bilateral trade and economic relations to get mutual benefits
He stressed close collaboration between the national and regional chambers of commerce of both nations to explore all untapped areas for business cooperation.
He said that direct meetings between the private sectors of both countries can play an effective role in strengthening bilateral trade relationship. He assured that his Embassy would cooperate in promoting business links between the two countries to further improve bilateral business and investment ties.
Speaking on the occasion, Ahsan Zafar Bakhtawari, President, Islamabad Chamber of Commerce and Industry said that bilateral trade of around US$ 80 million between Pakistan and Hungary does not reflect the actual potential.
He said that both countries should develop close collaboration between their SMEs that will help boost business ties to their real potential. He said that both countries should encourage Zoom meetings between their SMEs, which will help improve bilateral trade ties.
He said that Pakistan can export many products to Hungary including surgical instruments, pharmaceuticals, sports goods, cutlery products and the IT, and stressed that Hungary should enhance its imports from Pakistan to get quality products at competitive prices.
Senior Vice President, ICCI, Faad Waheed said that Pakistan and Hungary have good potential to boost cooperation in the tourism sector and they should capitalize on this potential.
Zafar Bakhtawari, former President ICCI and Secretary General UBG Pakistan stressed to revive the Hungarian-Pakistani Friendship Association to strengthen the people-to-people and business relations.
He said that both countries should setup direct air links, which are important to enhance bilateral business relations.
He added that regular exchange of trade delegations should be encouraged to explore new areas of trade promotion between the two countries.
