In a statement on Wednesday, the Ambassador of Italy to Pakistan Andreas Ferrarese emphasised enormous investment opportunities for mutual trade between Pakistan and Italy that can prove to be beneficial for both countries.
He made the statement at a dinner hosted at his residence in honour of Presidents of various trade chambers and business leaders. President of Islamabad Chamber of Commerce, Zafar Bakhtawri, Chairman Federation Pakistan Chamber of Commerce and Industry (FPCCI) Capital Office Qurban Ali, President Rawalpindi Chamber of Commerce and Industry (RCCI) Muhammad Nasir Mirza, President Gujranwala Chamber of Commerce and Industry, Umer Ashraf Mughal, President Sarhad Chamber of Commerce and Industry, Sherbaz Ilyas Bilour and Abdullah Shad Abbasi and many others were present at the dinner.
After observing the economic and trade potential of the two countries he discovered that there are ample opportunities for collaboration. He suggested that bilateral cooperation can be extended through a green economy, technological transfer, education, and health. He further mentioned that some of the potential areas that Italy is interested in extending its economic cooperation are dairy, livestock, plastics, food, and the construction sector.
Ferrarese informed the attendees that in the financial year 2020-21 highest recorded remittances from Italy were received worth $601 million, making Italy the No. 1 destination in the European Union for worker remittances.
He added that Italy is already providing upgraded machinery to the agriculture, marble and leather industry of Pakistan. The Italian government has also financed the Italy-Pakistan Textile Technology Center (IPTTC) in Faisalabad at the National Textile University (NTU) to assist the textile sector.
Lastly, he mentioned that a huge number of exports were made from Pakistan to Italy and many imports were also made from Italy to Pakistan of various goods.
A senior diplomat who participated in the occasion felt that Italy is committed to increasing the commercial ties between Pakistan and Italy.