A.Rafay
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LAHORE - Pakistan is a good investment destination as there exists a lot of scope for economic cooperation between Pakistan and Hungary in a number of areas including energy, agriculture, livestock, textile and education.
This was stated by the Ambassador of Hungary Istvan Szabo while talking to LCCI President Farooq Iftikhar here at Lahore Chamber of Commerce and Industry on Wednesday. LCCI Vice President Mian Abuzar Shad, Honorary Consul General of Hungary Mahtab Mohiuddin and Executive Committee Members also spoke on the occasion. The Ambassador said that Asia is number one priority of Hungarian businessmen therefore Pakistani business community should enhance its interaction with them.
He said that both the countries have their own strengths that should be tapped. He said that there should be some mechanism to exchange research data with each other that would help boost economic cooperation between the two countries.
He said that LCCI should focus on exchange of business delegations so that businessmen could have first hand knowledge about the available opportunities. The Ambassador said that Hungary can export to Pakistan agro-based products, food products, machinery, healthcare products, medical diagnostic machinery, water treatment plants, desalination plants, cell phones, security equipments, electrical appliances etc. whereas Pakistan can export to Hungary textiles, garments, cotton, cotton yarn, auto parts, sports and surgical goods etc.
Speaking on the occasion, the LCCI President Farooq Iftikhar said that Hungary and Pakistan enjoy cordial diplomatic relations and have signed agreement for avoidance of double taxation between the two countries which shows mutual willingness of promoting trade relations.
He said that Hungary is not among top trading countries for Pakistan because little information exists about financial and transport arrangements, trade regulations, custom laws, visa procedures, foreign investment policy etc., applicable in Hungary. Both sides need to bridge the gap related to trade information and statistical data on reciprocal basis.
To expand the two-way trade and economic collaboration for mutual benefits, we have to put into operation various tools like single country exhibitions, frequent visits of trade delegations, close co-ordination between trade bodies like chambers of commerce & industry, he said
Farooq Iftikhar said that Pakistan can supply all types of textile goods such as ready-made garments, fabrics, knitwear, hosiery, shoes, towels etc. Pakistan is known world over for all types of leather & leather products, organic as well as inorganic agro-based products & food items, sports goods & surgical instruments etc.
He said Hungarys vast technical know-how in the fields of oil & gas exploration, chemicals and heavy industries may provide the basis for technology transfer in these areas to Pakistan. The presence of MOL Pakistan Oil & Gas Co. since 2004 in KPK which has done remarkable work for crude oil and gas discovery is indicative of the fact that there exists enormous potential for foreign companies in this sector.
http://www.nation.com.pk/pakistan-n...-sees-pakistan-as-good-investment-destination
This was stated by the Ambassador of Hungary Istvan Szabo while talking to LCCI President Farooq Iftikhar here at Lahore Chamber of Commerce and Industry on Wednesday. LCCI Vice President Mian Abuzar Shad, Honorary Consul General of Hungary Mahtab Mohiuddin and Executive Committee Members also spoke on the occasion. The Ambassador said that Asia is number one priority of Hungarian businessmen therefore Pakistani business community should enhance its interaction with them.
He said that both the countries have their own strengths that should be tapped. He said that there should be some mechanism to exchange research data with each other that would help boost economic cooperation between the two countries.
He said that LCCI should focus on exchange of business delegations so that businessmen could have first hand knowledge about the available opportunities. The Ambassador said that Hungary can export to Pakistan agro-based products, food products, machinery, healthcare products, medical diagnostic machinery, water treatment plants, desalination plants, cell phones, security equipments, electrical appliances etc. whereas Pakistan can export to Hungary textiles, garments, cotton, cotton yarn, auto parts, sports and surgical goods etc.
Speaking on the occasion, the LCCI President Farooq Iftikhar said that Hungary and Pakistan enjoy cordial diplomatic relations and have signed agreement for avoidance of double taxation between the two countries which shows mutual willingness of promoting trade relations.
He said that Hungary is not among top trading countries for Pakistan because little information exists about financial and transport arrangements, trade regulations, custom laws, visa procedures, foreign investment policy etc., applicable in Hungary. Both sides need to bridge the gap related to trade information and statistical data on reciprocal basis.
To expand the two-way trade and economic collaboration for mutual benefits, we have to put into operation various tools like single country exhibitions, frequent visits of trade delegations, close co-ordination between trade bodies like chambers of commerce & industry, he said
Farooq Iftikhar said that Pakistan can supply all types of textile goods such as ready-made garments, fabrics, knitwear, hosiery, shoes, towels etc. Pakistan is known world over for all types of leather & leather products, organic as well as inorganic agro-based products & food items, sports goods & surgical instruments etc.
He said Hungarys vast technical know-how in the fields of oil & gas exploration, chemicals and heavy industries may provide the basis for technology transfer in these areas to Pakistan. The presence of MOL Pakistan Oil & Gas Co. since 2004 in KPK which has done remarkable work for crude oil and gas discovery is indicative of the fact that there exists enormous potential for foreign companies in this sector.
http://www.nation.com.pk/pakistan-n...-sees-pakistan-as-good-investment-destination
