WNAM REPORT: Hungary has reaffirmed its strong support for Pakistan’s GSP Plus (Generalized System of Preferences Plus) status in the European Union, as both countries vowed to deepen economic cooperation at the Pakistan-Hungary Business Forum held in Islamabad.
The forum was co-chaired by Federal Minister for Commerce Jam Kamal Khan and Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó, who led a 17-member Hungarian business delegation.
Minister Péter Szijjártó described Pakistan as an important economic partner and stressed that Hungary would continue advocating for Pakistan’s preferential trade access to European markets through the GSP+ scheme. “Hungary stands with Pakistan on the GSP+ front.
It not only benefits Pakistan’s exports but also strengthens EU-Pakistan relations through sustainable development and inclusive trade,” he said.
He added that Hungarian companies working in Pakistan are highly encouraged by the business environment and are keen to expand their operations. “I have brought with me top business leaders from Hungary.
They are meeting with their Pakistani counterparts in B2B sessions today, and we hope to see new partnerships and trade avenues open,” Szijjártó stated.
The Hungarian minister also shared that Hungary currently offers 400 scholarships annually to Pakistani students, and his government is looking to increase that number. He highlighted vast potential for collaboration in sectors such as energy, agriculture, IT, food security, sports, and advanced manufacturing.
He further mentioned that a Hungarian private airline is exploring operations in Pakistan, a sign of increasing connectivity and confidence in Pakistan’s market.
Commerce Minister Jam Kamal Khan welcomed Hungary’s unwavering support for Pakistan’s GSP+ status and acknowledged Hungary’s technological expertise, especially in seed technology, agriculture feed, and services sector, as areas where Pakistan can greatly benefit.
He emphasized that Pakistan is emerging as a stable and investor-friendly economy, with inflation coming down, the currency stabilizing, and renewed market confidence. “Our economic reforms are designed to improve ease of doing business, attract foreign investment, and create strong infrastructure to support sustainable growth,” he added.
Kamal highlighted government-led initiatives such as the National Tariff Policy, Strategic Trade Policy Framework, Pakistan Single Window, and transit trade agreements with Central Asian countries, all aimed at enhancing regional and global trade integration.
The forum brought together private and public sector representatives from both countries to explore sector-specific synergies. Delegates from Hungary included business leaders from Information Technology, Agri-Tech, Water Management, Healthcare Technologies, and Advanced Manufacturing—sectors aligned with Pakistan’s growth strategy.
Jam Kamal Khan also invited the Hungarian delegation to attend the Health, Engineering & Minerals Show (HEMS) from April 17–19 in Lahore, and encouraged participation in TDAP’s FoodAg and TEXPO exhibitions.
Both sides expressed confidence that the growing political goodwill and absence of bilateral disputes provide a solid foundation for long-term trade and investment ties.
“With Hungary’s support on international platforms and growing business-to-business ties, this forum sets the tone for a new era of economic partnership,” said Jam Kamal Khan.
