Hungary keen to invest in Bangladesh's agro-food processing, pharma sectors

Hungarian Foreign Minister Peter Szijjarto has said many businessmen and investors of his country are interested in investing in Bangladesh.

Emphasising on formation of a join trade commission, he added that they are keen to invest in agro-food processing, pure water treatment and pharmaceuticals in the special economic zones of Bangladesh.

"Bangladesh's agro-based industry has the opportunity to provide modern technology and machineries. The opportunities for investment in Bangladesh are attractive, Hungary wants to take advantage of all these opportunities," he added.

He made the disclosure during a meeting with his Bangladesh counterpart between Commerce Minister Tipu Munshi today.

They discussed ways to strengthen trade and investment ties between two countries at the bilateral talks.

Commerce Minister Tipu Munshi said, "The formation of a joint trade commission between the two countries will make it easier to identify trade and investment opportunities. Bangladesh would welcome Hungarian investment in agro-food processing, pure water management and pharmaceutical sectors. Besides, there are a lot of opportunities to invest in ICT and service sectors."

The minister further said Bangladesh has long trade relations with Hungary and there is a lot of opportunity to increase trade and investment between the two countries. 

Under the direction of Prime Minister Sheikh Hasina, the work of setting up 100 special economic zones in different parts of the country is progressing fast, he added.

The Hungarian Minister is scheduled to depart Dhaka at 6:30pm on Thursday. This is the first Minister level visit to Bangladesh amid coronavirus pandemic worldwide.

Bangladesh maintains friendly relations with Hungary since independence. Hungary supported the cause of Bangladesh during the War of Liberation and was one of the first countries to accord recognition.

The diplomatic relations were established as early as 29 January 1972.