Islamabad: Ambassador of Italy in Pakistan Andreas Ferrarese has said that Italy and Pakistan were committed to enhance trade ties.
The envoy said that Italy and Pakistan had a potential of €4 billion bilateral trade, saying it’s perfectly doable with collective efforts of both governments and private sectors collaboration.
Talking to the Pakistan Italy Alumni Network in a recent interaction, the Ambassador said this year trade had exponentially risen and can reach around €2 billion and in 2021 it was recorded to €1.52 billion.
It is the first time that Pakistan’s exports surpasses €1 billion and are more than imports in Italy, making Italy the second largest export destination in the European market, he added.
Ambassador Ferrarese told the alumni that to achieve the €4 billion goal both countries need to enhance investments and explore new avenues of business cooperation such as in Information and renewable technologies.
The Ambassador said that on August 10, during his meeting with Prime Minister Shehbaz Sharif, he stressed the need to further enhancing the existing potential to enhance trade and investment relations between Pakistan and Italy.
The Prime Minister also showed his interest in collaborations in the renewable energy sector, he maintained.
Ambassador Ferrarese told the Alumni that during the last 10 years the Pakistani community in Italy had surged from 25000 to 200000 .
He added that Pakistan and Italy had a long history of cordial relations and cooperation in political, economic, cultural, and social spheres.
“It is a matter of great satisfaction that the two nations had unanimity of views on several issues of global importance, and mutual cooperation in all fields had been on the rise,” he said.