Islamabad: At the Pakistan-Hungary Business Forum held in Islamabad, Hungary reaffirmed its strong support for Pakistan’s GSP Plus status in the European Union, with both countries pledging to enhance economic cooperation. The forum was co-chaired by Federal Minister for Commerce Jam Kamal Khan and Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó, who led a 17-member Hungarian business delegation.
Minister Szijjártó emphasized Hungary’s commitment to advocating for Pakistan’s preferential trade access to European markets through the GSP+ scheme. “Hungary stands with Pakistan on the GSP+ front. It not only benefits Pakistan’s exports but also strengthens EU-Pakistan relations through sustainable development and inclusive trade,” he stated.
The Hungarian minister noted that Hungarian companies operating in Pakistan are encouraged by the business environment and are eager to expand. The forum included B2B sessions to foster new partnerships and explore trade opportunities.
Szijjártó also mentioned that Hungary offers 400 scholarships annually to Pakistani students, with plans to increase this number, and highlighted the potential for collaboration in energy, agriculture, IT, food security, sports, and advanced manufacturing. A Hungarian private airline is exploring operations in Pakistan, indicating growing connectivity and confidence in the market.
Commerce Minister Jam Kamal Khan welcomed Hungary’s support for Pakistan’s GSP+ status and acknowledged Hungary’s technological expertise, particularly in seed technology, agriculture feed, and services, as areas of potential benefit for Pakistan. He underscored Pakistan’s emergence as a stable, investor-friendly economy, citing economic reforms aimed at improving business conditions and attracting foreign investment.
Kamal also highlighted government initiatives like the National Tariff Policy and Strategic Trade Policy Framework to enhance trade integration. The forum gathered private and public sector representatives from both countries to explore sector-specific synergies, with Hungarian delegates from sectors such as Information Technology, Agri-Tech, and Advanced Manufacturing.
Kamal invited the Hungarian delegation to attend the Health, Engineering, and Minerals Show in Lahore and encouraged participation in TDAP’s upcoming exhibitions. Both sides expressed confidence in the growing political goodwill and lack of bilateral disputes as a foundation for long-term trade and investment ties. “With Hungary’s support on international platforms and growing business-to-business ties, this forum sets the tone for a new era of economic partnership,” Khan said.