Italy wants to boost trade and investment relations with Pakistan: Ambassador Andreas Ferrarese

Staff Writer

Islamabad: Ambassador of Italy in Pakistan Andreas Ferrarese said this week that Italy wanted to enhance the existing potential to boost trade and investment relations between Pakistan and Italy.

In a media interaction, the envoy said Pakistan had shown interest in collaborations in the renewable energy sector.

Ambassador Andreas Ferrarese 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.

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.

To achieve the €4 billion goal, he said, both countries needed to enhance investments and explore new avenues of business cooperation such as in Information and renewable technologies.

He said 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.

Apart from business and trade, Italy has carried out significant projects in archaeology, agriculture, health, culture, and tourism, he maintained.