On 11 April 207, Pakistan and Hungary signed an agreement in Islamabad to enhance economic cooperation and trade ties in various areas including machine industry, electronics industry, food and agriculture, water management, environmental and energy sectors. The Finance Minister of Pakistan said while addressing the signing ceremony that the agreement is a step forward towards closer relations between the two countries.
The Hungarian Deputy Minister said that signing of the agreement is a major milestone and the next step would be the formation of the joint economic commission. He invited Pakistani businessmen to explore opportunities for cooperation with their Hungarian counterparts. He said that Pakistan is one of the hubs of economic growth and Hungary looks forward to developing strong economic ties with Pakistan.
The Joint Commission on Economic Cooperation to be established under the agreement shall monitor the effective implementation of the agreement and propose recommendations for the development of bilateral economic cooperation.