Italian businessmen keen to invest in Pakistan

There is huge untapped business potential in both countries, says envoy

LAHORE: Italian businessmen are keen to make investment in Pakistan’s energy sector besides having joint ventures in other fields, said Pakistan Ambassador to Italy Nadeem Riaz.

Speaking at the Lahore Chamber of Commerce and Industry (LCCI), he said that there is huge business potential in the two countries that should be tapped.



He urged the LCCI to constitute a sector-specific business delegation for Italy to explore trade and investment opportunities, adding that information regarding the delegation should be provided to the Pakistani mission in Italy at least two months prior to the visit so that B2B meetings could be arranged with their Italian counterparts.

“There is a vast scope for joint ventures in energy, pharmaceutical, agro infrastructure, automobile, textile and marble sectors,” said Riaz.

He also stressed the need for Memoranda of Understanding (MOUs) between the top organisations of the two countries.

LCCI former president Farooq Iftikhar said that Pakistan and Italy should hold sector-wise study to evolve a comprehensive joint strategy to enhance the volume of trade between the two countries.

He said that Italy had been very supportive to Pakistan within the EU with special reference to trade-related issues and Pakistan attaches the highest importance to its relations with Italy.



Iftikhar said that the Italian investors can invest in energy, agro-based industries, construction, mining, textiles and tourism sectors, where Pakistan could contribute and find complementary areas in design and fashion. Other sectors included IT and telecommunication.

“It is high time that the Italian investors come to Pakistan and make investments as the country is fast becoming a hub of economic activity in the region,” he added.

LCCI former president Mian Muzaffar Ali said that there is vast scope in the field of dairy products in which Italy enjoys expertise and hence both the countries can make huge profits. He said that Pakistani businessmen should focus on Italy which is a diversified industrial economy with roughly the same total and per capita output as France and the UK.

Published in The Express Tribune, June 9^th, 2016.

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