Hungarian FM to visit Pakistan today with high-level delegation to explore business opportunities
ISLAMABAD: Hungary's Minister for Foreign Affairs and Trade Péter Szijjártó is scheduled to arrive in Pakistan today, Thursday, with a high-level delegation to explore business opportunities in the country, Pakistan's foreign office said.
Szijjártó is touring the country Deputy Prime Minister Ishaq Dar's invitation, the foreign office said, adding that the two will hold delegation-level talks after holding one-on-one discussions.
'Deepening collaboration in economic, trade, energy and investment sectors is the focus of the two governments,' the foreign office said on Wednesday.
It said various memoranda of understanding (MoUs) and an agreement on cooperation in the fields of culture (2025-2027), archaeology and cultural heritage, and for 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 of the establishment of its 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.
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