Islamabad: Béla Fazekas, Hungary’s ambassador to Pakistan, pledged on Wednesday (October 13) to raise bilateral trade with Pakistan to USD 250 million, according to press reports.

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In a meeting with former President of the Islamabad Chamber of Commerce and Industry (ICCI), Zafar Bakhtawari, he claimed that the commercial potential between the two countries is enormous and that there are many untapped prospects. The ambassador claims that bilateral trade between the two countries has decreased to USD 50 million from USD 150 million in 2008.

The ambassador also stated that the Hungarian government is considering signing a series of Memorandums of Understanding (MoUs) and launching direct flights between the two countries in order to take advantage of tourism potential and increased people-to-people contact, which would help to develop bilateral relations.

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ICCI President Bakhtawari noted during the meeting that once the Gwadar port is completed, commerce will pick up significantly, as it will boost connections and ties with the Central Asian republics (CARs). Ahsan Bakhtawari, the former vice president of ICICI, was also present at the event.

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