Italy and Pakistan have unanimity of views on so many issues of global importance: Ambassador Andreas Ferrarese
Staff Writer
Islamabad: Italy’s Ambassador to Pakistan Andreas Ferrarese said this week that Italy and Pakistan had unanimity of views on so many issues of global importance.
Addressing a reception hosted by him and his wife Albana Ferrarese here to mark ‘Festa della Repubblica’ or the Italian Republic Day, the envoy said the mutual cooperation in all the fields between the two friendly countries had been on the rise.
Addressing the event attended by a galaxy of ministers, politicians, government officials, diplomats and journalists, Ambassador Andreas Ferrarese said that Italy and Pakistan had a long history of cordial relations and cooperation in political, economic, cultural, and social spheres.
He recalled that the foreign ministers of both countries recently met in New York, where they renewed the determination to strengthen the bilateral partnership.
The Ambassador acknowledged that with its unique geo-strategic location and improved security conditions, Pakistan offers excellent investment opportunities for Italian companies.
“With a population of around 220 million and a constantly growing demand for high-end products, Pakistan remains an attractive market for Italian manufacturers and businesspeople,” he added.
Ambassador Ferrarese said that Italy was among the top ten exporting countries for Pakistan globally and the third largest trade partner in European Union although, global trade shrank during the Covid-19 pandemic.
He mentioned that Pakistan’s exports to Italy in 2021 grew by 22.1%, with a total value of €763.51 million. In the same period, Italian exports to Pakistan saw an increase of 48.6%, with a total value of €754.06 million. Bilateral trade has grown from € 1.42 billion in 2019 to €1.52 billion in 2021. Trade volume in Jan-Feb 2022 stood at €289.37 million compared to €203.41 million during the same year 2021.
It is worth mentioning that remittances from Pakistani workers in Italy hit an all-time high. With the figures of $711.7 million in FY22, Italy has become the seventh-largest center of worker remittances to Pakistan globally and the top one in the EU countries, he added.
The envoy said the ultimate Italy-Pakistan Mixed Economic Commission took place in Islamabad, where the two sides discussed trade opportunities between the two countries, focusing on developing foreign investments through SEZ (Special Economic Zones) in key sectors such as agro-industry, the Ambassador added.
He said the Italians’ love for Pakistani mountains is no secret, which reflects through their conservation and uplift activities of Pakistan’s mountainous areas. Ambassador Andreas Ferrarese said the Embassy of Italy in Islamabad was committed to boosting commercial ties between the two countries.
