Pakistan Ambassador-designate to Hungary Syrus Sajjad Qazi has urged Pakistani businessmen to evolve strategy to tap huge potential exists in Hungary. He stated this while talking to LCCI President Sheikh Muhammad Arshad at Chamber, here on Thursday. He said that interaction with Hungarian businessmen would enable Pakistan private sector to get access to the European market. He further said that he would make all-out efforts to turn Pakistan mission into Hungary a match-making point for the business community in the two countries.
He said that he would also utilise Hungarian media to highlight the soft image of Pakistan as in today's world media is a strong tool to propagate information. LCCI President Sheikh Muhammad Arshad while speaking on the occasion has said that Pakistan is a good investment destination as there exist a lot of scope for economic co-operation between Pakistan and Hungary in a number of areas including energy, agriculture, livestock, textile and education.
He said that there should be some mechanism to exchange research data with each other that would help boost economic co-operation between the two countries. LCCI is focusing on exchange of business delegations so that the businessmen could have firsthand knowledge about the available opportunities, he added. Arshad said that Hungary and Pakistan enjoy cordial diplomatic relations and have signed the agreement for avoidance of double taxation between the two countries which shows mutual willingness of promoting trade relations.
He said that Hungary is not among top trading countries for Pakistan because little information exists about financial and transport arrangements, trade regulations, custom laws, visa procedures, foreign investment policy etc, applicable in Hungary. Both the sides need to bridge the gap related to trade information and statistical data on reciprocal basis.
"To expand the two-way trade and economic collaboration for mutual benefits, we have to put into operation various tools like single country exhibitions, frequent visits of trade delegations, close co-ordination between trade bodies like chambers of commerce and industry," he mentioned. He said that Pakistan can supply all types of textile goods such as readymade garments, fabrics, knitwear, hosiery, shoes, towels etc. Pakistan is known world over for all types of leather products, organic as well as inorganic agro-based products and food items, sports goods and surgical instruments.
LCCI Vice President Nasir Saeed said that Pakistan offers great opportunities for joint ventures in sectors like food processing, agriculture, engineering (heavy & light) automobiles, auto parts, tractors, harvesters, machine tools, cement, fertilisers, sugar, pharmaceuticals. He said that another sector is power generation as Pakistan is following an energy centric policy now-a-days to meet its energy needs. Hungary may like to relocate some of its hydel power machinery industry in Pakistan in view of liberal foreign direct investment adopted by Government of Pakistan or may simply supply such machines for our projects at competitive prices.