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Pakistan, Hungary trade can touch $250m mark: Ambassador

Ambassador Béla Fazekas says Budapest considering direct flights with Pakistan

SAMAA | - Posted: Oct 13, 2021 | Last Updated: 4 days ago
SAMAA |
Posted: Oct 13, 2021 | Last Updated: 4 days ago

Photo: AFP/File

The bilateral trade between Pakistan and Hungary has the potential to be increased to $250 million, Ambassador of Hungary to Pakistan Béla Fazekas said on Wednesday.

According to a press release, it would pave the way for new avenues of bilateral economic cooperation.

Both countries, he said, had potential for boosting bilateral trade in a number of sectors and new areas needed to be explored.

The former president and vice-president of the Islamabad Chamber of Commerce and Industry or ICCI Zafar Bakhtawari and Ahsan Bakhtawari called on the ambassador.

During the discussion, Béla Fazekas said that the volume of bilateral trade between the two countries had touched $150 million in 2008, which had declined to the current level of $50 million. The ambassador said that a few upcoming agreements and memorandum of understanding or MoUs would pave the way for boosting mutual economic cooperation between the two countries.

He said that the completion of the Gwadar port would also help Pakistan and other regional countries to be connected in world trade. After the completion of the port, economic and trade links, especially with the Central Asian countries would also increase.

He said that the completion of the Gwadar port would also help Pakistan and other regional countries to be connected in world trade. After the completion of the port, economic and trade links, especially with the Central Asian countries would also increase.

He said that the completion of the Gwadar port would also help Pakistan and other regional countries to be connected in world trade. After the completion of the port, economic and trade links, especially with the Central Asian countries would also increase.

He said during the Covid-19, bilateral trade between the two countries had been affected but online and digital meetings were a better solution.

On this occasion, former president of ICCI Zafar Bakhtawari said that direct flights between both countries would not only improve trade ties but also increase people-to-people contacts.

He said that on an average, around five million Pakistanis visited foreign countries for tourism and trade, and Hungary’s government wanted them to visit Hungary too.

He said air, road and rail links were essential for connecting Pakistan and Central Asian countries for enhancing mutual economic and trade.

On this occasion, former vice-president ICCI Ahsan Bakhtawari congratulated the Hungarian oil and gas company MOL for receiving medal of highest honor of Pakistan ’Sitara-e –Imtiaz’ in recognition of its valuable services.

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