Hungary-Pakistan Bilateral Trade to Rise to USD 250 Million
Béla Fazekas, the Hungarian ambassador to Pakistan, reportedly pledged to increase bilateral trade with Pakistan to $250 million.
During a meeting with Zafar Bakhtawari, the former president of the Islamabad Chamber of Commerce and Industry (ICCI), he asserted that the commercial potential between the two countries is substantial and that there are several unrealized opportunities.
According to the ambassador, bilateral trade between the two countries has plummeted to USD 50 million from USD 150 million in 2008.
The ambassador also stated that the Hungarian government is considering signing a series of Memoranda of Understanding (MoUs) and launching direct flights between the two nations in order to capitalize on tourism potential and increase people-to-people contact, which would contribute to the development of bilateral relations.
During the meeting, ICCI President Bakhtawari stated that with the completion of the Gwadar port, commerce would pick up speed quickly, as it will improve ties and contacts with the Central Asia Republics (CARs). Also present was Ahsan Bakhtawari, the former vice president and vice president of ICICI.
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