It gives me immense pleasure to extend my congratulation to Business Recorder for issuing a special supplement on occasion of the National Day of Italy.
Trade promotion is becoming increasingly complex and difficult in the era of globalisation, where every day brings new products and market forces in the global trading system.
The Italian Trade Commission has always worked under the auspices of the Consulate General of Italy to boost the existing trade between Pakistan and Italy.
The Italian Trade Commission is the Italian Government Agency entrusted with promoting trade, business opportunities and industrial co-operation between Italian and foreign companies.
The Italian Trade Commission (Pakistan) became operative in January 2001, in a span of 3 years Italian Trade Commission extended his services to more then 3,000 Pakistani companies and assisted around 1,800 Italian firms.
The Italian Trade Commission, with its network of more than 120 offices all over the world, can provide information and assistance to all those foreign companies who wish to develop business with their Italian counterparts, in particular supports small and medium sized enterprises.
Italy is one of the top trading partners of Pakistan. The trade between two countries has increased significantly and other economic activities have also grown.
During the past two years exports and imports between Pakistan and Italy has increased.
Imports US $179.4 million in 2000-01 and US $213.7 million in 2001-02. The balance of trade has remained in favour of Pakistan.
Exports from Pakistan to Italy in 2000-01 US $231.3 million and in 2001-02 US $256.3 million.
The textile yarn and clothing, readymade garments, towels, hosiery, bed-wear, carpet and rugs, cotton, leather, sports goods and surgical instruments are the major items exported from Pakistan to Italy.
Textile machinery, petroleum products, transport vehicles, iron and steel, pharmaceuticals, acrylic fiber, chemicals and paper and paperboard are the main items imported from Italy.
Pakistan, an attractive market for textile machinery manufacturers all over the world, has become a focal point of the suppliers in view of the massive balancing, modernisation replacement (BMR).
Import of textile machinery from Italy to Pakistan increased in 2000-2001, thus showing an increase of 34%.
Italy is very much advanced in automobiles, power generation, transport, marble and granite, textile, tanning, ceramic, jewellery, machinery and equipment, chemicals, agro-industries and energy recovery fields. There are good prospects for undertaking joint ventures in Pakistan with the help of Italian technical know-how.