Hungarian companies interested to import rice from Pakistan

During an online meeting with the Pakistan rice exporters, the Hungarian businessmen discussed investment and trade partnerships in detail with Pakistani food and rice companies.

The meeting was arranged by the All Pakistan Business Forum (APBF) with the collaboration of the Pakistan Embassy in Hungary and the Agriculture Ministry of Hungary.

Dr David Bencsik, during the meeting, observed that Pakistan rice and food products offer a huge potential for exports, as a large segment of this industry is well-organized and has achieved international efficiency levels.

The Hungarian companies’ representatives intended to visit Pakistan and study its food sector’s market for partnerships and investment and to strengthen the bilateral trade relations with Pakistan. Their prime interest was the rice import from Pakistan where they were interested to develop JVs with local counterparts.

Ambassador of Pakistan to Hungary Mohemmed Aejaz, while addressing the meeting, appreciated the role of APBF, saying that it is the beginning of a great era between Hungary and Pakistan to import and export agricultural products from both sides. He said that this is a great result-oriented interactive session, leading to enhancement in bilateral trade of both countries.

The Ambassador also applauded Foreign Minister Shah Mahmood Qureshi’s Economic Diplomacy as an essential part of Pakistan’s modern diplomatic practice. The government is now focusing on promoting economic diplomacy to attract foreign investment as part of the efforts to make the country economically secure.

Syed Maaz Mahmood said that the HPTEW was launched to fully utilize the bilateral trade potential of Pakistan and Hungary from the current volume of meagre $44.3 million, engaging the Embassy of Hungary in Islamabad and the Pakistan Embassy in Budapest fully in this regard.

He said that the European Union is Pakistan’s largest export market representing over 30 per cent of exports, with Hungary accounting for below 1 per cent of the total EU imports from Pakistan, which needs to be enhanced.