Traders' visa applications Italian embassy establishes separate counter

Italian Ambassador in Pakistan Vencenzo Prati has said a separate counter has been set up to entertain visa applications of traders. Addressing a meeting at Multan Chamber of Commerce & Industry (MCCI), here on Friday, he said visas were now being issued on top priority basis after interviews.
He said that Italy was interested in promoting culture of Multan. Italy has also initiated a walled city project. Prati said that Italy has always attached great importance to the cordial relations with Pakistan, which were improving with the passage of time. Italy is one of the top eight trading partners of Pakistan. Over the years, trade between Pakistan and Italy had increased significantly and other economic activities had also grown between the two countries. During the past five years exports and imports between Pakistan and Italy has increased, but rise in exports has been faster than the imports. The balance of trade had remained in favour of Pakistan, which increased from Euro 1653 million in 2010-11 as compare to $141.4 million in 2003-2004 to $170.3 million in 2007-2008. Exports from Pakistan to Italy increased from $454.1 million in 2003-2004 to $723.6 million in 2007-08, thus showing an average increase of 12 percent per annum.
Imports from Italy also increased from $312.7 million in 2003-2004 to $553.3 million in 2007-2008, thus showing an average increase of 15% per annum. Textile machinery, general industrial machinery, power generating machinery, petroleum products, transport vehicles, iron and steel, pharmaceutical, acrylic fibre, chemicals and paper and paperboard were the main items imported from Italy. A number of Italian companies including SECA, FIAT, Piaggio, Ansaldo, GIE Srl and Fochi Energia are operating in Pakistan. Leading textile machinery manufacturers like ITEMA Group are actively marketing their technology in Pakistan.
Import of textile machinery from Italy to Pakistan decreased from Rs 8.10 billion in 2006-2007 to Rs 5.72 billion in 2007-2008, thus showing decline of 29%. Import of the textile machinery (major items) from Italy to Pakistan. Prati said that the European countries should consider Pakistan as a major economic and trade partner and Pakistan should move closer, step-by-step in fostering economic relations with the EU.
The Italian ambassador further said that the G-8 summit was of vital importance for Pakistan, as G8 expressed its commitment to stand with Pakistan in its fight against terrorism. The G-8 summit also welcomed Pakistan's efforts to meet its commitments under its IMF stand-by arrangement and encouraged the government to continue critical economic reforms, which would allow for sound and transparent fiscal management.