• Italy and Pakistan’s bilateral commerce of €1.5 billion was far below their actual potential.
• Italy has 5 million family-owned SMEs, and that close collaboration between the two nations’ SMEs will be beneficial in terms of promoting bilateral commercial partnerships.
• He stated that Italy will support Pakistan’s request to renew the EU’s GSP plus concession.

Dr. Roberto Neccia, Deputy Head of Mission at the Embassy of the Republic of Italy, stated on Tuesday that Italy and Pakistan’s bilateral commerce of €1.5 billion was far below their actual potential.

He asked both countries to work together to increase their two-way commerce to at least €5-6 billion per year, as they have the potential to do so. He mentioned this while speaking to the business community at the Islamabad Chamber of Commerce and Industry.

Dr. Roberto Neccia stated that a commerce section was being established in the Italian Embassy in the hopes of boosting bilateral connections between the two countries.

He stated that the Iran-Italy Chamber of Commerce and Industry aided commerce and proposed the establishment of a Pakistan-Italy Chamber of Commerce and Industry to promote networking and economic ties between the two nations’ private sectors.

He stated that Italy has 5 million family-owned SMEs, and that close collaboration between the two nations’ SMEs will be beneficial in terms of sharing experiences and promoting bilateral commercial partnerships.

He praised the Pakistani population in Italy and stated that they may serve as a bridge to improve trade ties. He stated that Italy will support Pakistan’s request to renew the EU’s GSP plus concession.

He stated that Pakistan could deploy sector-specific trade missions to Italy to explore unexplored areas of mutual cooperation and told the Pakistani business community that his embassy would provide all possible assistance in strengthening business connections with Italy.

Speaking at the event, Muhammad Shakeel Munir, President of the ICCI, stated that Pakistan considered Italy to be an important country for trade and economic relations because both countries had significant potential to work in various fields.

He stated that Italy has advanced technology and machinery, and that close cooperation with Italy would benefit Pakistan’s economy.

He stated that Pakistan has a lot of marble and granite reserves, and that importing the newest marble machinery from Italy can help us make value-added marble items and improve our exports.

He stated that Pakistan may import industrial and agricultural machinery from Italy, while Italy can import raw materials, textiles, surgical instruments, marble products, pharmaceuticals, leather products, sports goods, and other items from Pakistan.

He emphasised that both nations should encourage the exchange of trade delegations on a regular basis in order to examine all potential areas of bilateral trade promotion.

According to Jamshaid Akhtar Sheikh, Senior Vice President, and Muhammad Faheem Khan, Vice President ICCI, the organisation is arranging a trade trip to Italy with the hopes of exploring new areas of economic partnership with Italian counterparts.

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