Italian Trade Agency to revive Pakistan’s Industrial sector for economic stability;Dr. Salvatore

ISLAMABAD: The Italian Trade Agency is committed to revitalizing Pakistan’s industrial sector and contributing to the improvement of the country’s business environment through financial support, technical expertise, and eco-friendly technologies aimed at fostering economic stability and sustainable growth.

This was highlighted by Dr. Salvatore Parano, Director of Ufficio ICE at the Italian Embassy in Islamabad, during a corporate meeting held at the FPCCI United Business Group (UBG) Secretariat in Islamabad, according to a press release issued here.Italy ready to enhance cultivation of palm in Chakwal

The meeting covered a wide array of topics, including the introduction of Italian brands and discussions on international business trends.

Dr. Parano noted that while climate change is impacting businesses globally, Pakistan holds significant potential in sectors like the production of Buffalo Mozzarella cheese, a key ingredient in the global pizza industry. He also emphasized the prospects of olive cultivation and food processing in the country.

He further stated that olive farming could thrive due to the favorable climate and soil conditions in Balochistan and the Pothwar region of Punjab. These areas, he explained, offer an ideal environment for olive cultivation, and the export of olive oil could generate substantial foreign exchange for Pakistan.

Zafar Bakhtawari, Secretary General of UBG, pointed out challenges in Pakistan’s business climate, citing the high cost of doing business, including expensive electricity and gas tariffs alongside heavy taxation.
He referenced Italy’s remarkable post-World War II recovery, highlighting how the country emerged as an industrial powerhouse by focusing on energy-efficient technological advancements in Europe.

Bakhtawari also praised Italy’s economic resilience, noting that despite the COVID-19 pandemic, the Italian economy remained one of the world’s strongest, ranking 8th globally in exports. Italy’s key exports include automobiles, vehicles, pharmaceuticals, and electrical machinery to countries like Germany, France, and the United States.

Waqar Bakhtawari, former President of the Chakwal Chamber of Commerce and Industry, encouraged Dr. Parano to collaborate with the United Business Group for market research in Pakistan. He also proposed exploring opportunities to promote Italian brands in Pakistan, particularly in sectors like cosmetics and pharmaceuticals.