Italy eyes Euro 6 billion bilateral trade potential with Pakistan - Press Release issued by Islamabad Chamber of Commerce and Industry.

Islamabad -- September 13, 2022 (PPI-OT)

Following is the text of press release issued by Islamabad Chamber of Commerce and Industry (ICCI)

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Dr. Roberto Neccia, Deputy Head of Mission, Embassy of the Republic of Italy said that the bilateral trade of Euro 1.5 billion between Italy and Pakistan was much below the actual potential of both countries and both should work for improving their two-way trade to at least aaA!5-6 billion per annum as they have the potential to achieve this target. He said this while addressing the business community during his visit to Islamabad Chamber of Commerce and Industry.

Dr. Roberto Neccia said that a trade section was being opened in the Italian Embassy and hoped that it would give a jump to bilateral ties between the two countries. He said that the Iran-Italy Chamber of Commerce and Industry contributed positively for trade and floated the idea of a Pakistan-Italy Chamber of Commerce and Industry to strengthen networking and business linkages between the private sectors of both countries. He said that Italy has 5 million family owned SMEs and close cooperation between the SMEs two countries would be helpful in sharing experiences and promoting bilateral business relations.

He lauded the contribution of the Pakistani community in Italy and said that they could act as a bridge for improving trade ties. He said that Italy would support Pakistan for renewal of the EU's GSP plus concession. He said that Pakistan should send sector-specific trade missions to Italy to explore untapped areas of mutual cooperation and assured that his embassy would provide all possible facilitation to the Pakistani business community in promoting business relations with Italy.

Speaking at the occasion, Muhammad Shakeel Munir, President, Islamabad Chamber of Commerce and Industry said that Pakistan considers Italy an important country for trade and economic relations as both countries have good potential to cooperate with each other in many areas. He said...