Islamabad (October 28, 2017) Italy has agreed on grant of duty free access to Pakistani products for stimulating an impressive growth in bilateral trade.
In statement Ministry of Commerce said that this was agreed during two days visit of Secretary Commerce Muhammad Younas Dhaga to Italy. High-level meetings between officials of Ministry of foreign affairs and Ministry of economy of Italy also held.
Both sides agreed that bilateral trade could be enhanced beyond the existing levels. Bilateral trade between Pakistan and Italy has increased from 906.96 million Euros in 2013 to 1.2 billion Euros in 2016.Secretary Commerce informed the Italian officials that government of Pakistan is committed to implement UN Conventions pertaining to human rights, labor rights, climate change, narcotics control and corruption.
Secretary Commerce explained that Italian business could benefit from opportunities available to foreign investors in Special Economic Zones and Export Processing Zones in Pakistan.
During the meetings the Italian side showed considerable interest in learning about the investment opportunities in Pakistan in the fields of infrastructure, energy and Automobiles.
Both sides decided to take concrete steps to make the upcoming meeting of Pakistan and Italy Joint Commission scheduled to take place in January, 2018 a success.