Trade Volume between Italy and Pakistan Will be Doubled: Stefano Pontecorvo

Arif Qureshi

Islamabad: Ambassador of Italy to Pakistan, Mr. Stefano Pontecorvo said Italy is the 4th largest investor in Pakistan after China, United Arab Emirates and Hong Kong and his country will double the existing trade volume during the current year. At present the volume of trade between Pakistan and Italy is about Euro 1 billion, which would be extended desirably in order to gain the maximum benefits of bilateral trade and investment.

Italian Envoy was addressing the Pak-Italy Friendship Contract signing ceremony between Agha Steels Industries Pakistan and Danieli Italy on Wednesday here in Islamabad, Chairman Board of Investment, Miftha Ismail was also present on the occasion. He said contract signing initiative would help in transferring latest technology in the metal industry to boost local production of steel and create more job opportunities.

Mr. Stefano Pontecorvo informed that Prime Minister of Italy is also scheduled to visit Pakistan by November this year in order to further cement the bilateral political, diplomatic and trade relations between the two countries.He said that the Foreign Minister of Italy was also on official visit of Pakistan and meeting with different stakeholder to further promote and develop the bilateral relations of both the countries.

Italian Envoy said over 120 top businessmen, investors, delegates and head of leading companies from Italy are scheduled to visit Pakistan for attending a forum in order to explore trade and investment opportunities existing between the two countries. The event is scheduled to be held in coming October this year, which would help in boosting up the trade and investment relations of both the countries.

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He said the transfer and adoption to new technology will help produce highest quality deformed steel rebars in Pakistan and help enter into a new area of cooperative relationship between Italy and Pakistan.

The Ambassador said the follow-up sectoral meetings would explore bilateral trade and investment opportunities in different sectors of the economy including textile, agriculture, construction and infrastructure development. He said other sectors of mutual cooperation including agriculture machinery manufacturing, value addition of agri-products, mining, and information and communication technology as well as leather products.

“We are looking for partnership in different sector in order to make Pakistan a hub of trade and commerce by collaborating in different sectors of economy,” he added. The Ambassador said the Government of Pakistan was making serious efforts to attract foreign investment by introducing business friendly policies and local businessmen were also aware about the market trends.

To a question, he said the Britexit from the European Union (EU) would not affect the relations between EU member’s states and Pakistan. Addressing the ceremony Chairman Board of Investment, Miftha Ismail said the Italy and Pakistan, were have long and good trade and commercial relations. He said the government was making efforts for doubling the bilateral trade between both the countries during next two-years.

The Writer is Editor Daily Online News Paper “The Fortress” He can be reached at arifqoreshi@gmail.com

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