Italy eyes doubling trade with Pakistan to $3b

Italian CG calls for deeper collaboration in trade, energy, healthcare

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KARACHI:

The Consul General of Italy in Karachi, Fabrizio Bielli, has emphasised the need to strengthen bilateral economic, trade, and investment ties between Italy and Pakistan, aiming to double the current trade volume to at least $3 billion in the coming years.

According to a press statement released on Wednesday, Bielli highlighted Karachi's vast economic potential during a visit to the Karachi Chamber of Commerce & Industry (KCCI), describing it as a city full of untapped opportunities, especially in energy, agriculture, water recycling, and industrial machinery. "Italy is a global leader in producing high-quality machinery for the textile sector as well as advanced medical equipment, including incubators for new-borns. We are in a strong position to support Pakistan in addressing its growing healthcare infrastructure needs," he said.

Having assumed office just two months ago, Bielli expressed keen interest in exploring Karachi's economic landscape and urged KCCI to submit a sectoral requirement report three times a year. "This document will help us channel key insights to the relevant sectors in Italy, enabling Italian institutions and businesses to better understand the opportunities available in Karachi and across Pakistan", he said.

He also encouraged Pakistani businesses to utilixe the Italian Trade Promotion Section at the Consulate, which actively supports small and medium-sized enterprises.

"More than just a window, a door is open at the Italian Consulate for promoting trade and investment ties," Bielli stated. "Let's work together to identify opportunities and strengthen economic and commercial relations between our two countries."

KCCI Senior Vice President Ziaul Arfeen noted that bilateral trade crossed $1.6 billion in FY24, with Pakistan's exports to Italy reaching $1.12 billion. Arfeen said the recent hike in US tariffs presented a chance for Pakistan to deepen ties with partners like Italy.