Pakistan a good investment destination for Italian investors: Ambassador Andreas Ferrarese

Staff Writer

Islamabad: Ambassador of Italy to Pakistan Andreas Ferrarese said this week that Pakistan was a good investment destination for Italian investors.

The Ambassador further said that Pakistan offers excellent investment opportunities for foreign companies.

He mentioned that bilateral trade volume between Italy and Pakistan has exponentially grown in the recent years.

The envoy said that with its unique geo-strategic location and improved security conditions, Pakistan offers excellent investment opportunities.

“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.

The 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.

Moreover, Italy is home to more than 150,000 Pakistanis, the largest Pakistani diaspora in Europe (after Brexit). Engaged in various production sectors in Italy, they continue to contribute to both countries’ economies.

Ambassador Andreas Ferrarese said that Italy was among the top ten exporting countries for Pakistan globally and the third largest trade partner in European Union.

Apart from business and trade, Italy has carried out significant projects in archaeology, agriculture, health, culture, and tourism. Italy’s Archaeological Mission is one of the oldest present missions in Pakistan and has made significant contributions to Pakistan’s already rich archaeological sphere.

The Embassy of Italy in Islamabad is committed to boosting commercial ties between the two countries.

The Ambassador suggested that both countries should explore all the possible avenues focusing on agriculture, machinery, textiles, and tourism.