ISLAMABAD: The Hungarian government has decided to open its business office in Karachi to promote business-to-business contacts, says Ambassador of Hungary IstvanSzabo.

The envoy disclosed this in a meeting with Pakistan’s Commerce Minister Khurram Dastagir Khan here on Friday.

The ambassador informed the minister that the Hungarian Export Import (Exim) Bank is open for credit lines which will provide crucial financial facility for enhancing mutual trade.

He said that since the visit of the Minister of Economic Diplomacy of Hungary, there is a growing impression in Hungary that Pakistan’s economy has stabilised and countries, like Hungary, can complement Pakistan’s trade and investment potential.

He said that these is an increased interest among Pakistani businessmen to trade with Hungary as is evident from the business visas which increased 10pc last year. Hungary is also proving 80 scholarships to Pakistani students to impart technical expertise achieved by the Hungarian institutions and to link-up the people of two countries.

The ambassador informed the minister that the two countries can sign economic cooperation agreement on the latter’s visit to Hungary as the Hungarian government had already forwarded the agreement to the European Union for their comments.

Mr Szabo handed over an invitation to the minister to visit Hungary.

The minister said that Pakistan would hold trade exh­i­bition and a business forum in Hungary in a bid to enh­ance Pakistan’s exports in the Eastern part of Europe.

The minister informed the ambassador that Pakistan lacks investment in agricultural technology, food processing, dairy processing, infrastructure building, renewable energy, information technology, water management and transportation and waste management and the Hungarian companies can benefit from this.

Published in Dawn, June 18th, 2016