Ambassador Marilina Armellin takes keen interest to boost bilateral economic, investment

Islamabad: Italy’s Ambassador to Pakistan Marilina Armellin is taking keen interest towards boosting bilateral economic, trade, and investment relations.

Her strategic initiatives, keen observations, and diplomatic engagements underscore a proactive approach.

Ambassador Armellin, emphasizes the significance of the newly established office of the trade attaché within the embassy – an unprecedented move in the last 75 years. This development is seen as a catalyst to elevate the trade and investment landscape between the two nations.

During her recent visit to Lahore, Ambassador Armellin articulated her objectives of strengthening the already amicable bilateral relations, citing the longstanding cordiality spanning 75 years.

She highlighted Italy’s commitment to Pakistan, notably through the construction of the new embassy building in Islamabad—the first such project undertaken abroad by Italy in 70 years.

Of particular note is her attention to the potential offered by the sizable Pakistani community residing in Italy, numbering around 300,000 individuals.

This community, comprising workers, entrepreneurs, students, and researchers, serves as a valuable bridge for fostering mutual understanding and facilitating trade and investment opportunities between the two countries.

Ambassador Armellin emphasized Italy’s strengths in manufacturing and exporting machinery, specifically textile machinery, agricultural equipment, and smart irrigation systems – sectors that align with Pakistan’s economic needs.

She emphasizes the compatibility of the two nations’ economic systems, pointing to the potential benefits for Pakistani companies in these sectors.

The Ambassador stresses the importance of raising awareness among Italian investors about the opportunities in Pakistan, a nation with significant potential yet comparatively lesser known among Italian businesses.

She acknowledged challenges such as policy uncertainty and bureaucratic hurdles that hinder smooth investment processes.

In light of her recent appointment and interactions with Italian businesses interested in Pakistan, Ambassador Armellin acknowledged the country’s potential while highlighting areas for improvement.

She noted the necessity of a conducive business environment, free from red tape, to attract foreign investment, including from Italy.

Ambassador Armellin commended Pakistan’s efforts to enhance labour rights, human rights, and governance, particularly in alignment with the EU’s GSP Plus programme.

She viewed these improvements as essential steps for accessing EU markets and advocates for the continuation of trade concessions beneficial to Pakistan’s economy and its people.

Looking ahead, Ambassador Armellin expressed anticipation for Pakistan’s new government formation, emphasizing the importance of its economic agenda.

She acknowledges the upcoming loan negotiations with the IMF and the need for a cohesive strategy to address economic challenges and benefit the populace.

In addition to economic cooperation, Ambassador Armellin highlighted Italy’s support for Pakistan in times of need, such as after the 2022 floods.

Drawing parallels between environmental challenges faced by both countries, she underscored Italy’s investment in projects aimed at combating climate change, improving agriculture, and enhancing child nutrition.