Italian businessmen are keen to invest in Pakistan’s energy sector besides having joint ventures in other fields.
This was stated by Pakistan Ambassador to Italy Nadeem Riaz on Wednesday.
Speaking at the Lahore Chamber of Commerce & Industry, the ambassador said there was a huge business potential in the two countries that should be tapped.
He urged the LCCI to send a sector specific business delegation to Italy to explore trade & investment opportunities.
He also said that Pakistan’s mission in Italy should be intimated about the visit at least two months before so that B2B meetings of Pakistani businessmen could be arranged with their Italian counterparts.
The envoy said there was a vast scope for joint ventures between the two countries in energy, pharmaceutical, agro-infrastructure, automobile, textile and marble sectors.
He also stressed the need for Memoranda of Understanding (MOUs) between the top organisations of the two countries.
The former LCCI president Farooq Iftikhar said that Pakistan and Italy should conduct a sector-wise study to evolve a comprehensive joint strategy for enhancing volume of trade between the two countries.
He said that Italy had been very supportive to Pakistan within the EU.
He particularly made a special reference to trade-related issues in this regard.
He said Pakistan attached highest importance to its relations with Italy.
Iftikhar said that the climate for foreign investors in Pakistan was so conducive that they could now have 100 percent equity and there were no restrictions on remitting dividend, profits, fee etc.
“The cost of doing business in Pakistan has also decreased owing to low interest rates and availability of cheap labour,” he added.
He said while the Italian companies could invest in energy, agro-based industries, construction, mining, textiles and tourism sectors, Pakistan on the other hand could contribute and find complimentary areas in designing and fashion besides IT and telecommunications.
LCCI former Presidents Tariq Hameed, Mian Misbah-ur-Rehman, Farooq Iftikhar, Mian Muzaffar Ali, Ijaz A.
Mumtaz, Executive Committee Members Rizwan Shamsi, Khadim Hussain and Provincial Secretary Transport Javaid Akbar Bhatti were prominent among the participants.
Source: The Nation
