Tazeen Akhtar
Pakistan is firmly committed to further expanding and deepening mutually beneficial relationship in economic and commercial spheres. The trajectory of Pakistan Italy ties is positive and we are determined to make every effort to maintain it. This was stated by Adviser to the Prime Minister on Kashmir Affairs and Gilgit Baltistan Qamar Zaman Kaira at 76th Republic Day of Italy celebrated in Islamabad on 02 June here .
Mr. & Mrs. Andreas Ferrarese, Ambassador of Italy hosted a grand reception at Serena Hotels on the auspicious day “The Festa della Repubblica is one of the national symbols of Italy. The day commemorates the institutional referendum held by universal suffrage in 1946, in which the Italian people were called to the polls to decide on the form of government following the Second World War and the fall of Fascism. The referendum was to decide which form of state, the people prefer- monarchy or republic? The nation voted for Republic.
The reception was attended by Deputy Speaker National Assembly Zahid Akram Durrani, Federal Minister Parliamentary Affairs, Murtaza Javed Abbasi, Federal Minister Education Rana Tanvir Hussain , PTI leader in Senate of Pakistan Dr Shehzad Waseem, Dr Tariq Fazal MNA and other members of Parliament. Officials of Pakistan Military also graced the occasion with their presence.
Ambassadors of European Union, other countries, representatives of business community, civil society, media were also invited to share the festivity of Italian Nation. The guests felicitated the government and people of Italy.
Qamar Zaman Kaira, in his keynote address, said that Pakistan regarded Italy as a reliable friend and partner.Pakistan and Italy have commonality of views on broad range of regional and international issues.
“Pakistan looks forward to further strengthening its partnership with Italy for the achievement of its objectives of peace prosperity and development. Italy is one of Pakistan’s largest trading partners in the EU.Considerable number of Pakistanis are living in Italy who also serve as a strong bridge between our two friendly nations.” Mr. Kaira concluded.
H.E. Andreas Ferrarese, Italian Ambassador shed light on history of national day and spoke highly about bilateral relations with Pakistan. He said Italy and Pakistan have a long history of cordial relations and cooperation in political, economic, cultural and social spheres. Foreign Ministers of our two countries recently met in New York where they renewed the determination of strengthening bilateral partnership.
“Italy is home to more than 150.000 Pakistanis, the largest Pakistani diaspora in Europe (after Brexit). Engaged in various production sectors in Italy, they continue to make great contribution to the economies of both countries.” Ambassador noted.
Italian government and people very much appreciated Pakistan’s solidarity to Italy when Italy was badly affected during the early stages of Covid-19 pandemic.
Pakistan, with its unique geo-strategic location and improved security conditions, offers great investment opportunities for Italian companies. With a population of around 220 million and a constantly growing demand of high-end products, Pakistan remains and attractive market for Italian manufacturers and businessmen.
Italy is among top ten exporting countries for Pakistan globally, and third largest trade partner in European Union. Although global trade shrank during Covid-19 pandemic but Pakistan’s exports to Italy in year 2021 grew by 22.1% with a total value of €763.51 million. In the same period Italian exports to Pakistan saw in increase of 48.6% with a total value of €754.06 million.
Bilateral trade has seen a growth from € 1.42 billion in 2019 to €1.52 billion in 2021. Trade volume in Jan-Feb 2022 stood at €289.37 million as compared to €203.41 million during the same period of year 2021.
It is worth mentioning that remittances from Pakistani workers in Italy hit an all-time high. With the figures of $711.7 million in FY22, Italy has become the seventh largest center of worker remittances to Pakistan globally, and the top one in the EU countries.
The ultimate Italy-Pakistan Mixed Economic Commission took place in Islamabad, where the two sides discussed trade opportunities between the two countries, with focus on development of foreign investments through SEZ (Special Economic Zones) in key sectors such as agro-industry.
Apart from business and trade, Italy has carried out significant projects in fields of archaeology, agriculture, health, culture and tourism.
Archaeological Mission is one of the oldest present missions in Pakistan, and has made great contributions to Pakistan’s already rich archaeological sphere.
Ambassador shared that Italian cooperation has supported several ventures in fields of agriculture, health and infrastructure in diverse regions of the country. Italians’ love for Pakistani mountains is no secret and that reflects through their activities of conservation and uplift of Pakistan’s mountainous areas.
The Embassy of Italy in Islamabad is committed to boost commercial ties between the two countries and for that purpose we shall explore all the possible avenues with focus on agriculture, machinery, textiles and tourism. Collaboration in fields of textiles, agriculture, livestock, construction, marble, pharmaceuticals and tourism would help enhance Pakistan’s industrial scope and increase exports of value added goods.
“We are excited on the launch of “Olive Culture Project” in Pakistan that would bear tangible fruits for the country in future.We have ambitious plans to further strengthen bilateral economic ties, with an aim to take mutual trade to its natural size. We look forward to a deeper collaboration with Pakistani business community, relevant bodies such as Italian Development Committee and chambers of commerce and industry in both countries.” Mr. Andreas Ferrarese concluded.
ITALY REPUBLIC DAY 2022: Message from H.E. Andreas Ferrarese, Italian Ambassador to Pakistan
