LAHORE: With improving law and order situation in Pakistan, there seemed good potential for import, export and investment between Italy and Pakistan, and Italy would provide special package of incentives to investment companies and business counterparts in Pakistan.
As many as 37 Italian businessmen headed by Italian Deputy Minister Ivan Scalfarotto are currently on the visit to Pakistan for exploring the investment avenues besides joint ventures in various sectors. Pakistan Furniture Council (PFC) organized a round-table discussion with the visiting Italian delegation comprising Italian furniture producers on current trends in Pakistan and Italian furniture sector here. Mian Kashif Ashfaq, Chief Executive PFC, briefed members of the delegation and media about the potential of investment in furniture sector in Pakistan.
Business representatives from both sides agreed to regularize exchange of visits, provide each other the information about new technological developments in machinery and accessories for the furniture sector in Italy and the international market as well as information about the production of furniture sector in Pakistan.
He said that Italy is the fourth largest investor in Pakistan following China, UAE and Hong Kong with a total investment valuing at $100 million along with bilateral trade worth €1 billion. “Our focus is on energy, infrastructure, automobiles, agro food, pharmaceuticals, marble, stones, furniture and textiles. Pakistan’s main items of export are cotton fabrics, woven made-up articles of textile materials, articles of apparel, chemicals, leather products and cotton yarn. Major items of import from Italy include machinery and its parts, cereals and cereals preparations, medical and pharmaceutical products and wheat, adding he said we want to diversify our exports and find new partners for doing business.
