Italian companies have expressed keen interest in expanding trade ties with Islamabad and Pakistan’s embassy in Rome is making efforts to facilitate local businessmen in marketing and matchmaking with their European counterparts, said Pakistan’s Ambassador to Italy Jauhar Saleem.

Talking to members of the All Pakistan Business Forum on Tuesday, he discussed the idea of holding joint webinars and launching a web portal to promote trade and investment relations between Pakistan and Italy.

According to the ambassador, several Italian companies are focusing on Pakistan as a possible investment destination given lower labour costs offered by the country.

“Italian businessmen are closely following Pakistani market and products,” he said.

The envoy underlined the need to diversify exports as 75% of foreign shipments from Pakistan comprised traditional goods.

He called for a shift in the composition of exports and emphasised the need for promoting high and medium technology-based products, which were in high demand across the globe.

He was of the view that Pakistan’s export volume remained low due to limited export destinations.

“The products included in Pakistan’s export basket are facing stiff competition from regional countries due to the low cost of doing business,” he said.

In a recent meeting with the APBF, Ambassador of Italy to Pakistan Andreas Ferrarese said that Rome accorded huge importance to its relations with Pakistan and all-out efforts would be made to boost economic ties.

Published in The Express Tribune, November 3rd, 2021.

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