Chairman FPCCI stresses for enhancing Pak-Italy economic trade linkages.

ISLAMABAD -- The Chairman Federation Pakistan Chamber of Commerce and industry (FPCCI) Capital Office Haji Qurban Ali stressed the need to enhance the economic and trade linkages between the business community of Italy and Pakistan for increasing the trade between both sides.

Local business community want equilibrium and to achieve trade balance as currently, Pakistan had a trade surplus in bilateral trade with Italy as was observed in FY 2019-20,' senior business leader said.

Chairman FPCCI said this while presiding over a meeting with the Ambassador of Italy to Pakistan Andreas Ferrarese along with senior business leaders including Coordinator Capital House, FPCCI Mirza Abdur- Reham and others here in FPCCI Capital Office.

The Ambassador of Italy to Pakistan, Andreas Ferraris Visit FPCCI Capital Office Islamabad, in a call on meeting with Haji Qurban Ali Chairman, FPCCI Capital Office Islamabad and Mirza Abdul Rehman Coordinator FPCCI.

Quban Ali said Pakistan exports to Italy were US $ 731million during 2019-20 while Pakistan's major exports to Italy included textile, leather, rice, ethanol, including textiles articles, sets, worn clothing, Cotton, apparel, crocheted, Cereals, raw hides and skins, leather, beverages, spirits and vinegar, Plastics, footwear and gaiters.

While in meeting, he also proposed the Ambassador to bring investment in the potential areas of Tourism, livestock, Mines minerals, Transport and Housing sector to enhance the cooperation between both the countries.

The senior business leader said that CPEC related Gilgit Baltistan (GB) Special economic Zone (SEZ) and others would increase the business and industrial cooperation between the business sector of Italy and Pakistan.

He said that Italian investors and businessmen can invest and start Joint Ventures with local industrialists in Gilgit Baltistan, SEZ in value addition on agriculture, livestock, mines and minerals and milk products.

He said that the GB region is a gateway for CPEC to provide opportunities to the Italian business people to connect with China as well as regional countries including Central Asian Republics (CARs) to get benefits from their economies.

While he said that in Gilgit Baltistan, there is huge potential of hydro power, which also supports any foreign investor for available cheap energy to the industrial sector and provides secure business opportunity.

Qurban Ali also said that GB region has a huge potential of tourism and livestock as the...