Trade (Italian Companies show interest for investment and JVs in Pakistan)

June 15, 2015 Off By Web Desk

Islamabad: A delegation of Italian businessmen accompanied by Mr. Fabrizio Cosimi, Commercial Attache, Embassy of Italy and Mr. Imran Khan, Deputy Director, Board of Investment visited Islamabad Chamber of Commerce and Industry and showed interest to enhance investment and joint ventures in Pakistan.

The delegation was representing the National Association of Italian Manufacturers of Footwear, Leather Goods, Tannery Machines and Accessories, Bellelli Engineering and energy & telecommunication sectors.

Speaking at the occasion, the delegation members said that Italy was 10th largest trading partner of Pakistan and it wanted to further diversify and expand its trade and economic relations with Pakistan. They said Italy supported Pakistan in grant of EU’s GSP Plus status and it was ready to cooperate with Pakistan in energy, marble, textiles, education and other sectors.

They said most of Pakistan’s exports to Italy comprised of textiles & leather products and Italy with advanced technology & machinery could help Pakistan in producing value added textiles, leather and marble products. They stressed that both countries should facilitate frequent exchange of trade delegations as enhanced interaction between entrepreneurs of both countries could lead to quantum leap in bilateral trade.

In his welcome address, Muzzamil Hussain Sabri, President, Islamabad Chamber of Commerce and Industry briefed the Italian businessmen about investment opportunities in various sectors of Pakistan’s economy.

He said China-Pakistan Economic Corridor would start a new era of business and investment opportunities in Pakistan and it was right time that Italian investors should look more and more towards Pakistan as a destination of investment and joint ventures.

He said energy crisis was a major problem for Pakistan’s economy and emphasized that Italian investors should bring more investment to exploit untapped energy sources in Pakistan. He said Pakistan was a thriving market for automobile sector and Italian automobile companies should start manufacturing plants in Pakistan to earn phenomenal results.

He said there was great scope to improve Pak-Italy bilateral trade of US$ 1.5 billion and businessmen of both countries should develop strong linkages to tap all unexplored areas of potential cooperation. He assured that ICCI would work with Embassy of Italy to promote private sectors connectivity and further strengthen trade & economic ties between Pakistan and Italy.