Faisalabad: Italy’s Ambassador to Pakistan Andreas Ferrarese has predicted that Pak-Italy bilateral trade will go up from $ 1.7 billion to its full potential of $4 billion.
Addressing a meeting along with his spouse at the Faisalabad Chamber of Commerce and Industry (FCCI) this week, the envoy said he was posted about nine months ago when corona was at its peak.
He said that due to this reason, he had to wait for some time to fully understand the intricacies of the bilateral trade between the two countries.
The Ambassador said that he was fully aware of the economic importance of Faisalabad and hence he was visiting this city.
He said that possibly he would spend 3 to 3.5 years in Pakistan and during this period, he would try to bridge the gap between the business communities of the two countries.
Ambassador Andreas Ferrarese underlined the importance of cultural linkages to promote trade and said that he would encourage exchange of students to further strengthen bilateral relations.
Appreciating the quality of Pakistani textile products, he said that Italy-Pakistan Textile Technology Center (IPTTC) had been established at the National Textile University Faisalabad (NTUF) to give a new dimension to the Pakistani textile products so that these could compete in the international markets.
Ambassador Ferrarese said that Italy could also provide new and state-of-the-art machinery to Pakistani industrialists which would also help them in technology transfer.
He also assured to encourage joint ventures and said that the global economic environment was expected to improve next year and both countries would be in a position to perform much better.
Ambassador Ferrarese said that Italy had already learnt to ensure business relations through zoom and virtual meetings.
Earlier, Chaudhry Talat Mehmood, senior vice president of the FCCI, welcomed the Italian ambassador and his wife and said that corona badly hit the import and export, however, now the situation was gradually improving and we were expecting a positive trend in our bilateral trade.