The Hungarian Ambassador H.E. István Szabó called on the Prime Minister’s Advisor on Commerce, Textile, Industries & Production and Investment Mr.Abdul Razak Dawood

The Hungarian Ambassador H.E. István Szabó called on the Prime Minister’s Advisor on Commerce, Textile, Industries & Production and Investment Mr.Abdul Razak Dawood at Islamabad today. Both sides discussed the issues of bilateral interest in the area of trade and investment.

Hungary has offered technical assistance in the area of agriculture. Hungary has made impressive progress in agriculture sector by introducing modern technology, research and good agricultural practices. Agriculture plays a pivotal role in the life of Pakistan’s economy. It accounts for around 20% of GDP. Agriculture not only furnishes food and raw material but also employment opportunities to a very large proportion of population as well. However , the agriculture sector is performing far below than its potential due to a number of issues.

The Ambassador informed that meeting of Pak-Hungary Joint Economic Commission would be held in September this year at Budapest. Pakistan’s major exports to Hungary include cotton, medical apparatus, leather and textile goods. Hungary has already invested in Oil and Gas sector of Pakistan and its company MOL is operating with local partners.. Both sides agreed to boost bilateral trade through proactive approach and improved engagement.