Minister for Foreign Affairs and Trade of Hungary Péter Szijjártó has expressed his country's strong desire to broaden cooperation with Pakistan across various sectors including economy and trade.

He was addressing Pakistan-Hungary Business forum in Islamabad on Thursday.

The Hungarian foreign minister expressed the confidence that B2B meetings between the two sides today will prove successful.

He said the two countries are preparing to sign an agreement on mutual protection of investment. In addition, he said they are also about to sign an agreement on aviation to establish direct air connections between the two countries.

The Hungarian Foreign Minister also voiced support for Pakistan to remain part of the GSP plus beyond 2027.

In his remarks, Minister for Commerce Jam Kamal Khan expressed the confidence that B2B engagements would lead to meaningful partnerships and long-term ventures between Pakistan and Hungary.

He mentioned Pakistan has made significant strides in improving its trade and investment environment. He said various regulatory and policy reforms are being undertaken to improve ease of doing business, attract foreign investment and create a robust infrastructure that supports sustainable development.

Jam Kamal said a national tariff policy is being formulated with special focus on tariff rationalization to promote and encourage business in Pakistan. 

He said efforts are also underway to develop e-commerce and boost digital economy.

The Minister for Commerce said Pakistan offers a promising destination for foreign investors. He said we acknowledge the value of Hungary's technological expertise, innovation and industrial capacity.  He said this provides a fertile ground for mutually beneficial cooperation between the two countries.

Earlier, Minister for Foreign Affairs and Trade of Hungary Peter Szijjarto arrived in Islamabad on a day-long visit to Pakistan on Thursday.

At the airport, he was received by the Additional Secretary Europe Muhammad Ayyub, Ambassador of Hungary and other senior officials.