Italy supporting Pakistan in GSP+ reviews: Ambassador Andreas Ferrarese
Newswire
Islamabad: Italy’s Ambassador to Pakistan Andreas Ferrarese has said that Italy was fully supporting Pakistan in Generalized Scheme of Preferences (GSP+) status in every review.
In an interview, the ambassador said in FY 2019-20, Pakistan’s imports from Italy stood at $521 million included ships, boats, and other floating structures, machinery, pharmaceutical product, aircraft, spacecraft, electrical, electronic equipment, Organic chemicals, iron and steel, miscellaneous chemical products, optical, photo, technical and medical apparatus.
The envoy said he perceived more trade potential between Pakistan and Italy in different sectors of the economy that would help evolve trade equilibrium between both the sides.
“Both the sides want equilibrium and to achieve trade balance as currently, Pakistan had a trade surplus in bilateral trade with Italy,” the ambassador said.
Replying to a question he said Pakistan exports to Italy were $731million during 2019-20 while Pakistan’s major exports to Italy included textile, leather, rice, ethanol, including textiles articles, sets, worn clothing, Cotton, apparel, crocheted, Cereals, raw hides and skins, leather, beverages, spirits and vinegar, Plastics, footwear and gaiters.
He said currently, Italy was providing technical assistance in textiles, leather and marble sectors. Ambassador Andreas Ferrarese said his government prioritized to enhance bilateral trade between Pakistan and Italy to its full potential of $5 billion annually in the next three years from current $ 1.7 billion.
He said dairy and livestock, olives and olive products, plastics, processed food and construction sector were the areas where Italy could extend its cooperation with Pakistan. The Pak-Italy Joint Economic Commission was the forum for bilateral economic engagement and was expected to meet in Rome in the last quarter of this year.
He said Pakistan has a share of 10 per cent of trade with Italy in the whole contribution with EU countries and future both sides would extend more cooperation in trade and economy.
Ambassador Ferrarese a new economic mission would also be established in Pakistan to enhance trade and economic connectivity with Pakistan.
The ambassador said, “I want to open up a cultural centre, maybe in one part of the embassy, and promote Italian cuisine, art, paintings, music so that the Pakistanis can know more about Italy.”
