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Latest Press Releases

Third Session of Pakistan-Italy Joint Economic Commission (Rome - 29-30 January 2018)

(2018-01-30) The 3rd meeting of JEC between Italy and Pakistan took place under Ministry of Economic Development, Italy in ICE Headquarters in Rome 29-30 January 2018. The Pakistani delegation was led by Rana Muhammad Afzal Khan, Minister of State for Finance, Revenue and Economic Affairs. The Italian delegation was headed by Ivan Scalfarotto, Undersecretary of the Italian Ministry of Economic Development.

The two sides reviewed the economic situation in both countries and discussed areas of bilateral economic cooperation. Views were exchanged on the current economic conditions and prospects of enhancing bilateral commercial and investment relationship.

While noting that there was an increase in bilateral trade during the past year, the two sides agreed that the current level of bilateral trade and investment does not fully reflect the potential of their economies. Both sides acknowledged the need of increasing the total trade flows by facilitating market access and diversifying the range of goods and services.

It was agreed to increase institutional collaboration, promote SME development and collaborate in important sectors like livestock, energy, infrastructure, oil & gas, transport management and chemicals. They also agreed to remove the bottlenecks in promotion of trade.

Pakistan and Italy signed three letters of Intent (LoIs) for cooperation in Textiles, Footwear and Stone sectors. An MoI was also signed between PASDEC and Confindustria Maromomacchine.

The Italian Undersecretary hosted a working lunch for members of the delegation from both sides.


Rome
30th January 2018