LAHORE: Italian government has its eyes set on strengthening ties with Pakistan through all the industries that display opportunities. They believe that both the countries’ economic ties can be magnified as Italy’s ambassador in Islamabad has been involved in several conferences to discuss all the ways in which this relationship can be nourished. During Italian Ambassador Andreas Ferrarese visit to the Lahore Chamber of Commerce and Industry (LCCI), he said:“Italy has over $5 trillion in savings, hence it possesses ample fiscal space to undertake investment projects,” the envoy said. “Pakistani investors should come forward and avail themselves of investment opportunities.”
The bilateral trade volume can be lifted to a big volume of $5 billion through Italy’s construction, agricultural and tourism industry as these sectors present huge potential. The ambassador also explained that now potential investors from Pakistan will be offered 3 to 5 years valid visas. “This will help enhance business-to-business contacts as well as trade relations between the two nations.”
“For the first time, Rome has ranked first among major supplying markets for Pakistan’s imports from the European Union,” he said. “With a consistent uptrend in two-way trade, it is indeed a healthy sign that both imports and exports are increasing with each passing year. Italy is extending technical assistance to Pakistan in textile, leather and marble sectors,” he stated.
LCCI President Mian Tariq Misbah let on that as an important trading partner for Pakistan, Italy ranked 5th amongst Pakistan’s top export destination. He also applauded praised Italy’s initiative of establishing a textile machinery training centre in Pakistan.
