Hungary Visits Pakistan to Expand Trade Relations in Various Sectors

With the intention of expanding trade relations in various sectors, including textiles, a large group of sector-specific business delegation from the Central European country of Hungary will be visiting Pakistan in March 2014, in order to explore investment opportunities and promote bilateral trade between the two countries, said Hungarian Ambassador to Pakistan Istvan Szabo.

The Hungarian Ambassador was speaking while addressing the members of Lahore Chamber of Commerce and Industry (LCCI) during a recent meeting.

According to a statement issued by LCCI, the Ambassador said it would be a great opportunity for business communities of Pakistan to expand their businesses to European countries, especially Hungary, which is situated in the centre of Europe.

Mutual contacts between the chambers of two countries should be increased and the exchange of trade delegations could help promote trade relations, he added.

According to the Hungarian Ambassador, trade and investment opportunities are available in various sectors between the countries, including textiles, and Pakistani businessmen could avail Hungarian expertise in these areas.

Speaking on the occasion, LCCI president Engineer Sohail Lashari emphasised the need for exchange of information on market studies, business delegations, and single country exhibitions in both the countries as well as signing memorandum of understanding (MoU) with the Hungarian Chamber of Commerce and Industry for the same.

Mr. Lashari said here are vast prospects of expansion of bilateral trade including joint ventures between the two countries, especially in the textiles sector.

According to the LCCI president, Pakistan could supply all types of textile goods such as readymade garments, home textiles and knitwear (hosiery) items to Hungarian markets, and Hungary could lend its technical expertise to Pakistan on various sectors.