Islamabad (Staff Report): Pakistan and Hungary signed an agreement in Islamabad to promote economic cooperation in various areas including machine industry, electronics industry, food and agriculture, water management, environmental and energy sectors. 

A joint commission on economic cooperation will also be established to monitor the effective implementation of the agreement and propose recommendations for development of bilateral economic cooperation.    

Finance Minister Ishaq Dar said while addressing the signing ceremony, the agreement is a step forward towards closer relations between the two countries.   

The Hungarian Deputy Minister Szilveszter Bus also acknowledged that Pakistan is one of the hubs of economic growth and Hungary looks forward to developing strong economic ties with Pakistan .