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Hungary’s policy of opening to the East has boosted Hungarian-Pakistani ties, with the volume of bilateral trade growing by 12% in 2020, the foreign minister said. Péter Szijjártó and his Pakistani counterpart, Shah Mahmood Qureshi, opened an online business forum with 40 Hungarian and 60 Pakistani participants and held bilateral talks.
Szijjártó noted that Hungarian gas and petrol company MOL is one of the largest foreign investors in Pakistan, with its oil and gas production an important contribution to the country’s energy supply. Meanwhile, Hungarian Eximbank has opened an 83 million dollar credit line to fund cooperation between Hungarian and Pakistani companies in view of ongoing talks in sectors like the food industry, cyber security and manufacturing medical equipment, Szijjártó said. He also highlighted the importance of higher education, and noted the 200 government grants offered to Pakistani students at Hungarian universities.