Islamabad, March 4, 2026 – The Europe Today: According to the Global News Pakistan, Ambassador of Hungary to Pakistan, Dr. Zoltan Varga, has said that Hungary and Pakistan share traditionally friendly diplomatic relations and possess significant potential to enhance bilateral trade and investment cooperation.
He expressed these views while addressing an interactive session at the Islamabad Chamber of Commerce and Industry (ICCI) on Wednesday.
The ambassador noted that Pakistan and Hungary celebrated the 60th anniversary of the establishment of diplomatic relations last year, which was marked by a series of business engagements between the two countries. He added that the Pakistan–Hungary Joint Economic Commission (JEC) also held its meeting last year and expressed hope that the next session would take place in Budapest next year to further strengthen economic cooperation.
Dr. Varga stated that the current bilateral trade volume between Pakistan and Hungary stands at around 100 million US dollars, indicating substantial room for growth. He pointed out that Hungary’s major economic presence in Pakistan is through MOL Group, the Hungarian oil and gas company, which has been successfully operating in the country for the past 26 years, benefiting both sides.
Describing Pakistan as a large and dynamic market of over 250 million people, the ambassador highlighted its vast economic potential and assured that the Hungarian Embassy would continue to facilitate business linkages and contacts between companies from both countries.
He also informed participants that the upcoming EU–Pakistan Business Forum, scheduled for next month, would provide another opportunity to promote economic cooperation and strengthen business relations.
Earlier, in his welcome remarks, ICCI President Sardar Tahir Mehmood said Pakistan and Hungary enjoy a long history of cordial diplomatic relations, adding that stronger economic engagement could greatly benefit the business communities of both countries.
He noted that bilateral trade currently stands at approximately 100–120 million US dollars, with Pakistan exporting mainly textiles, leather goods and food products, while Hungary exports machinery, pharmaceuticals and specialized industrial products to Pakistan.
Sardar Tahir Mehmood emphasized that despite existing trade relations, there remains considerable potential to expand cooperation in sectors such as energy, information technology, pharmaceuticals, infrastructure development, agricultural machinery and technology-based industries.
Reaffirming ICCI’s commitment to promoting business interaction, he said the ambassador’s visit to the Chamber would help identify new avenues for trade and investment collaboration between Pakistan and Hungary.
ICCI Senior Vice President Tahir Ayub also spoke on the occasion and highlighted various potential areas of cooperation, while appreciating Hungary for its economic progress and technological advancement.
Among those present at the session were Deputy Head of Mission Dr. Dora Gunsberger, ICCI Vice President Irfan Chaudhry, former President Shakeel Munir, executive members Malik Mohsin Khalid, Zulqurnain Abbasi, Ishaq Sial, Imran Minhas, Mirza Mohammad Ali, Chairman Inter-Regional Coordination Committee ICCI Kashmir Zahir, former SVP Khalid Chaudhry, and former executive members Chaudhry Mohammad Ali and Akhtar Abbasi, along with other members of the business community.
