Hungarian envoy calls for enhanced bilateral trade ties

ISLAMABAD: Hungarian Ambassador Szabó István has propounded the signing of a memorandum of understanding (MoU) between the Hungarian Export Promotion Agency (HEPA) and Trade Development Authority of Pakistan (TDAP).

In a meeting with Adviser to Prime Minister on Commerce Abdul Razzak Dawood on Wednesday, the envoy apprised the adviser of the impressive progress Hungary has made in the agriculture sector by integrating research, modern technology, and good agricultural practices.

He extended the proposal of facilitating Pakistan with technical assistance in the areas of agriculture, livestock, fisheries and food processing.

The envoy stated that the inaugural session of Pak-Hungary Joint Economic Commission held in September this year in Budapest would serve as a foundation in enhanced cooperation between the two countries.

He further spoke of the investments made by Hungary in the oil and gas sector of Pakistan.

Speaking on the occasion, Dawood assured the full cooperation of the government and stressed on the importance of agriculture in Pakistan’s economy as it constitutes around 20% of GDP.

“Agriculture not only furnishes food and raw material but also employment opportunities to a very large proportion of the population as well,” he added.

Both sides agreed to boost bilateral trade and investment through a proactive approach and enhanced engagement.

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