A delegation spearheaded by Ahsan Zafar Bakhtawari, leader of the Islamabad Chamber of Commerce and Industry (ICCI), ventured to the Hungarian Embassy in Islamabad for strategic talks with Hungary’s envoy, Bela Fazekas. The agenda centered on amplifying trade and economic cooperation between Hungary and Pakistan.
Ambassador Fazekas welcomed the ICCI delegation and underscored the urgency for Hungary and Pakistan to elevate their trade and economic partnerships for mutual benefits. Advocating for robust collaboration between national and regional commerce chambers of both nations, he suggested this as a pathway to unearth and capitalize on latent business opportunities.
He promoted direct B2B engagement as a mechanism to strengthen trade ties and committed the Embassy’s assistance in nurturing business connections between Hungary and Pakistan, with an aim to enhance bilateral business and investment relations.
Bakhtawari addressed the current bilateral trade volume of roughly $80 million as not reflective of the true potential, pointing to significant growth possibilities. He recommended fostering closer ties among SMEs, which he believes will catalyze reaching the full potential of these business relations.
He proposed regular Zoom meetings between SMEs to bolster trade connections. Bakhtawari identified a range of Pakistani exportable goods to Hungary, including pharmaceuticals, surgical instruments, sports goods, IT, and cutlery, and advised Hungary to scale up its imports from Pakistan for access to quality, cost-effective products.
ICC’s Senior Vice President, Faad Waheed, identified the tourism sector as an area ripe for enhanced cooperation, urging both nations to seize this opportunity.
Former ICCI President and UBG Pakistan Secretary General, Zafar Bakhtawari, emphasized reinvigorating the Hungarian-Pakistani Friendship Association. He stressed the importance of establishing direct air travel and the regular exchange of trade delegations as methods to discover and promote new trade channels.
The delegation also comprised Dr. Istvan GRAFJODI, Hungary’s Commercial Counsellor, alongside notable Pakistani business leaders Raja Muhammad Imtiaz, Ms. Shumaila Siddiqui, Malik Nadeem Akhtar, Tariq Jadoon, and Yousaf Rajput.
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