Italy helps Pakistan move towards value addition

Envoy says they are working to establish a training centre in the country

LAHORE: Italy, along with Pakistan, is gearing towards value addition of locally made products, said Italian Ambassador to Pakistan Stefano Pontecorvo.

Addressing the inaugural session of Pakistan Mega Leather Show 2020 on Monday, he pointed out that Pakistan possessed immense potential when it came to leather and related products.

He further acknowledged that both countries enjoyed friendly cultural and trade relations.  “We have jointly increased bilateral trade volume by $3 billion,” he said, adding that Pakistan was on the path of economic improvement.

Talking about the leather show, the ambassador said it showcased high quality Pakistani products.

He underlined that Pakistan possessed massive potential to grow and Italy was playing its due role in helping Pakistan add value to its products. “In cooperation with Pakistani counterparts, we are working to establish a training centre in the country and we will invest to steer value addition in Pakistan as well,” Pontecorvo added. He was referring to the Italy-Pakistan Footwear Technological Centre (IPFTC) planned to be established in Lahore.

Speaking on the occasion, Pakistan Footwear Manufacturer Association (PFMA) Chairman Muhammad Younas added that the association had received encouraging response from entrepreneurs, investors and designers. “Pakistan is the eighth largest producer of footwear in the world and this sector provides employment to more than one million Pakistanis,” he outlined.

According to him, Pakistan’s footwear exports were expected to hit $140 million this year with an annual growth of nearly 17%. Stating figures, he said global exports of footwear currently stood at $142 billion and Pakistan’s share was only 0.1% He reiterated the envoy’s comments that Pakistan had immense potential to enhance exports.

He said that the PFMA had a vision to achieve the target of at least $1 billion in footwear exports over the next five years.  “It is tough but achievable, however, to achieve this target, we have to revamp our strategies.”

He stressed that the country faced a daunting task of addressing the challenges regarding investments, human resource development, productivity, joint ventures and technological upgrade, marketing and sales.

“The Italian government is already helping us in certain areas and we want to extend this cooperation to another level,” he said. 

Published in The Express Tribune, January 28^th, 2020.

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