Opportunities to strengthen bilateral trade ties between Pakistan and Italy

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An Islamabad Chamber of Commerce & Industry (ICCI) delegation, led by President Muhammad Shakeel Munir, visited the Ambassador of Italy, Mr Andreas Ferrarese, in his office. The two sides discussed further improving bilateral trade and economic relations between the two countries. Vice President Muhammad Faheem Khan and former President of ICCI, Sheikh Amir Waheed, were members of the delegation.

Addressing the delegation, Mr Ferrarese underlined his country’s wishes to strengthen trade and economic relations with Pakistan to reach mutually beneficial outcomes. On his side, ICCI President Muhammad Shakeel Munir said that the bilateral trade between Pakistan and Italy had yet to reach its true potential.

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The ICCI President referred to both countries’ need on focusing on developing strong business links between their private sectors to increase bilateral trade volume. Mr Munir highlighted the importance of Italy’s technological cooperation with Pakistan, thus enabling the country to upgrade its industrial capacity and produce value-added products for exports promotion. Sectors like textiles, construction, marble, pharmaceuticals, agriculture, processed food, dairy, and livestock would be the focus of this collaboration. 

Finally, he talked about Pakistan’s significant reserves of marble and granite and how Italian technology would help it produce value-added marble products and boost its exports. He said that Pakistan was offering incentives to foreign investors, and Italian companies should take advantage of these opportunities by exploring JVs and investing in Pakistan.

Source: islamabadpost.com.pk