Deputy State Secretary for Opening to the South Szilveszter Bus visited Pakistan, an important partner in South Asia, on 11-12 April, 2017. Besides holding the latest round of political consultations with Additional Foreign Secretary Mr. Zaheer A. Janjua, Mr. Bus met with Minister of Finance Ishaq Dar and Special Assistant to the Prime Minister Tariq Fatemi. Deputy State Secretary Bus and Secretary Tariq Mahmood Pasha signed an Agreement on Economic Cooperation in the presence of Pakistan’s Minister of Finance, which enables the establishment of the Hungary-Pakistan Joint Economic Committee. While in Islamabad, Mr. Bus also met with leading figures of the political and business community at an event organised by Mr. Nasser Jaffer, head of the Karachi-based partner office of the Hungarian National Trading House.

Deputy State Secretary Bus reaffirmed that Pakistan is an important partner of Hungary in dynamically growing South Asia. The last four years have witnessed remarkable improvements in Pakistan’s internal security situation, while its economic indicators are similarly promising. These factors together offer an environment that is conducive to the improvement of our bilateral cooperation based on mutual respect.

The latest round of political consultations covered all main aspects of our bilateral relations, with a special focus on possible ways to enhance our economic interactions. Pakistan thanked Hungary for raising its Stipendium Hungaricum scholarship quota from 80 to 200 students per year. The Pakistani partners commended Hungary’s increased activity in South Asia within the framework of the Hungarian Government’s “Opening to the South” policy and the expansion of its diplomatic network, as well as its economic achievements.

The parties agreed that the volume of trade between the two countries is still far from its full potential. Nevertheless, the 19 percent increase recorded last year is promising. They also decided to put in place further incentives to encourage more direct business-to-business partnerships. Sectors such as public transport, technical equipment manufacturing, renewable energy sources, medical equipment, IT, agriculture, water treatment and sanitation are especially promising areas for further cooperation.

The partners discussed several current international issues, with a special focus on international terrorism and illegal migration. Speaking of the importance of stability in South Asia, which is also vital for Europe, the Hungarian Deputy State Secretary emphasised the importance of continued dialogue and responsible measures to address existing disputes.

At the Ministry of Foreign Affairs, Mr. Bus paid a courtesy visit to Special Assistant to the Prime Minister Tariq Fatemi. In addition to discussing bilateral and regional issues, both parties praised the activities of MOL Pakistan, the country’s flagship Hungarian investor, which plays an indispensable role in Pakistan’s energy market and contributes positively to the life of local communities through its corporate responsibility activities.

Deputy State Secretary Bus was also received by Minister of Finance Ishaq Dar, with whom he discussed the steps leading to Hungary’s current economic performance and the structural reforms required in Pakistan. Mr. Bus highlighted the importance of making sovereign economic policy decisions and keeping vital infrastructure under national ownership. “Pakistan regards Hungary and a model, as one of Europe’s most stable countries and most successful economies”, the Pakistani Finance Minister said.

Deputy State Secretary Bus provided the Pakistani press with detailed information on his various meetings.

(Ministry of Foreign Affairs and Trade)