ISLAMABAD: Hungary’s Minister for Foreign Affairs and Trade, Péter Szijjártó, arrived in Islamabad on Thursday with a high-level delegation to explore business opportunities in the country, Pakistan’s foreign office said.
Szijjártó is touring the country on Deputy Prime Minister Ishaq Dar’s invitation, with the two officials scheduled to hold delegation-level talks after one-on-one discussions.
“Hungary’s Minister of Foreign Affairs and Trade, Peter Szijjarto has arrived in Islamabad,” the foreign office said. “He was received at the airport by Muhammad Ayyub, Additional Secretary Europe, Ambassador of Hungary, and other senior officials.”
The foreign office said a day earlier the focus of the two governments was to deepen collaboration in the economic, trade, energy and investment sectors.
It also informed that a number of memoranda of understanding (MoUs) and an agreement on cooperation in the fields of culture (2025–2027), archaeology and cultural heritage, and the abolition of visas for holders of diplomatic passports will be signed between the two countries on the occasion.
“This would be FM Szijjártó’s second visit to Pakistan, aimed at lending positive impetus to enhanced bilateral cooperation and mutually rewarding economic partnership,” the statement said.
Pakistan enjoys cordial relations with Hungary, and this year Islamabad will mark 60 years since the establishment of diplomatic relations with the country.
The two countries enjoy cooperation in energy, with Hungarian oil and gas company MOL Group actively investing in Pakistan’s oil and gas exploration sector since the early 2000s.
MOL Pakistan has invested heavily in exploration and production, especially in Pakistan’s northwestern Khyber Pakhtunkhwa province.
Pakistan has pursued agreements in trade, energy, tourism, livestock, mining and minerals, and other priority sectors with regional allies and Gulf countries in recent months. Islamabad hopes to attract foreign investment in its priority sectors to achieve sustainable growth.
Pakistan formed the Special Investment Facilitation Council (SIFC) in June 2023 to attract international investment in these sectors, mainly from Gulf countries. The SIFC says it aims to fast-track decisions related to investments.
Hungarian FM arrives in Islamabad with high-level delegation to explore business opportunities
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Hungarian FM arrives in Islamabad with high-level delegation to explore business opportunities
- Pakistan and Hungary are expected to sign agreements on culture, heritage and visas during the visit
- Pakistan says the two governments want enhanced economic, trade, energy and investment relations
Pakistan’s deputy PM discusses ways to boost economic, trade ties with Iran
- Both countries agreed in August to increase bilateral trade to $10 billion by 2028
- Pakistan and Iran have been working to stabilize relations after strained security ties
ISLAMABAD: Pakistan’s Deputy Prime Minister Ishaq Dar presided over a meeting to discuss economic and trade cooperation with Iran, the foreign office said on Friday, as the neighboring countries seek to expand ties.
The development took place during an inter-ministerial meeting on Pakistan-Iran bilateral relations chaired by Dar in Islamabad. Pakistan and Iran have been working to stabilize ties following a period of strained security relations.
Both countries have been working to enhance bilateral trade, setting up border markets and exploring barter trade to circumvent banking and currency restrictions. Sanctions and foreign exchange shortages remain key hurdles for Iran, making these alternative systems central to its trade strategy with Pakistan.
“The meeting reviewed ongoing cooperation across a range of sectors and discussed ways to further enhance economic and trade ties,” the foreign office said in a statement.
“The DPM/FM reaffirmed Pakistan’s commitment to deepening engagement with Iran in key priority areas.”
In December, the foreign ministers of Iran and Pakistan vowed to strengthen bilateral cooperation in trade and connectivity while working for regional peace.
Iranian President Dr. Masoud Pezeshkian also visited Pakistan in August, during which both countries signed agreements to increase bilateral trade to $10 billion by 2028.
