Foreign Minister Makhdoom Shah Mahmood welcomes Hungarian delegation

April 30, 2021: According to the report of Baaghi TV, Foreign Minister Makhdoom Shah Mehmood Qureshi, while addressing the business community along with Hungarian Minister of Foreign Affairs and Trade Mr. Peter Sujarto, said that Pakistan would like to thank him and his delegation. He welcomed the delegation from Hungary.

Foreign Minister Shah Mehmood Qureshi said that during the Corona epidemic, the visit by Hungarian delegation speaks volumes about the importance of our bilateral relations. The visit is a milestone in promoting bilateral trade and economic cooperation and Pakistan-Hungary friendship. He said he hoped that bilateral relations will continue to grow. He said he would like to commend Hungarian government’s success in the fight against covid-29 commenting on the more than 37% of the population that has been vaccinated. The third wave of corona in Pakistan is proving to be more dangerous and deadly since the epidemic came to light.

Along with human lives, the government of Pakistan is doing its utmost to save the economy. The government of Pakistan is trying to control this epidemic through social restrictions, smart lock-down and vaccination.

Foreign Minister Shah Mehmood Qureshi said that under the leadership of Prime Minister Imran Khan, our geopolitical priorities have changed into geo-economic priorities. Targets include financial flows, investment promotion, remittances, tourism and technology exchange.

In the last two years, due to the positive economic reforms of the government, the ranking of business facilities in Pakistan has increased by 39 degrees. Pakistan is ranked sixth among the ten countries in the world with favorable business environment. We are providing more facilities to investors to invest in Pakistan. Under the Pak-China Economic Corridor project, 9 special economic zones are in various stages of construction which provide the best opportunity for investors from other countries to invest. We have launched e-Visa to facilitate foreign investors and tourists. He said that Pakistan is focusing on Blue Economy.

The government has declared 2020 as the year of maritime economy. He said, “We are registering Pakistani products under the Intellectual Property Regime. These products include basmati rice, pink salt, cannabis, etc. In the light of Prime Minister Imran Khan’s economic vision, we launched last year “Economic Diplomacy” which is an important component of a successful foreign policy. Stay in personal touch with all Pakistani embassies to explore aspects of economic partnership with countries. In fact, today’s meeting is the result of the same efforts that I made when I first visited Pakistan.”

“I invited Foreign Minister Sjarto to the inaugural meeting of the Hungarian Economic Window and he honorably accepted my invitation. It will be a start. I hope that a similar delegation of Pakistani businessmen will visit Hungary soon.”

He added that Pakistan recognizes that over the past few decades, Hungary has made unprecedented progress in a variety of sectors, including agriculture, ecology, urban development, mechanics, and so on. Electronic engineering, higher education, health, culture / music and sports are all among the priorities of our government, so we want engagements at the expert level in these fields to benefit from the Hungarian experience.

He also talked about learning from Hungary the management of water resources. A Memorandum of Understanding on Water Resource Management provides opportunity for “expert level” engagement in the sector. Pakistan is committed to improving the environment. Hungarian waste management companies can invest in this sector within Pakistan.

He encouraged Hungarian businessmen / companies to invest in special economic zones and benefit from government incentives. “Energy” is an important sector for economic partnership. MOL Pakistan, Pakistan has been operating in Pakistan since 1999.

The foreign minister said he expects MOL to take this opportunity to expand its business to “Renewable Energy”. He requested Foreign Minister Suzanne to support Pakistan’s efforts to introduce Pakistan’s leading products, rice, mango, leather products, surgical instruments, football and other sports equipment thereby boosting bilateral trade volumes as a result of the interaction of our business communities.

The trade volume is likely to exceed 100 million by next year since today business agreements are being signed between Pakistani and Hungarian companies in the fields of dairy, pharmaceuticals and cyber security.

He finished saying, he would like to once again thank the Hungarian Foreign Minister, Mr. Peter Sjarto, and the accompanying business community delegation, and looked forward to seeing them again. The ties that are being established will continue to flourish and be extremely beneficial to both countries.

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