Envoy Announces Pakistan-Italy Trade Surpasses 2 Billion Euros

02 Sep, 2023

Envoy Announces Pakistan-Italy Trade Surpasses 2 Billion Euros

The Italian Ambassador to Pakistan, Andreas Ferrarese, announced on Friday that the volume of bilateral trade between Pakistan and Italy has been steadily increasing, surpassing the 2 billion Euro mark. Additionally, he noted that remittances from Pakistanis residing in Italy have reached an impressive 1 billion Euros.

These remarks were made during a seminar focused on Italian Cooperation in Pakistan, a collaborative effort between the Italian Agency for Development Cooperation in Islamabad and the Consulate of Italy in Karachi. The event was graced by the presence of Ambassador Andreas Ferrarese, Consul General of Italy in Karachi Danilo Giurdanella, and the Head of the Italian Development Committee, Aarij Iqbal.

The seminar underscored the substantial role that Italian cooperation plays in various sectors of Pakistan. Francesco Zatta, the Head of the Office of the Italian Agency for Development Cooperation (AICS) in Islamabad, delivered a keynote address. He explained that AICS is engaged in a range of multi-sectoral activities in Pakistan and Afghanistan, with a focus on aligning Italy with European and global partners in development endeavors.

AICS employs a flexible approach that adapts to the ever-evolving development landscape. They have initiated numerous flagship programs and projects in Pakistan aimed at creating linkages between research, education, and labor for effective cooperation. Of particular significance is their commitment to enhancing resilience and adaptation to climate change, as well as the preservation of natural and cultural heritage.

Given the ongoing challenges posed by climate change and natural disasters, there is a growing imperative to invest in strategies that mitigate and adapt to these changes. One noteworthy project, "Glaciers and Students," is dedicated to supporting environmental monitoring and natural resource management in the Central Karakorum National Park and the Deosai National Park. This project employs advanced technologies such as remote sensing and GIS techniques, along with a dedicated web information system, to improve risk assessment, particularly regarding GLOFs (Glacial Lake Outburst Floods) and hydro-geological hazards.

Moreover, Pakistani universities are actively engaged in field activities through rigorous training and capacity-building programs in glaciology monitoring and remote sensing analysis. These efforts provide the necessary tools for achieving long-term research goals and establishing transparent data communication mechanisms.

AICS also demonstrates a strong commitment to female literacy, cultural heritage awareness, and the preservation of natural heritage in Pakistan. Two significant projects have been launched in this regard. The first project, titled "Support to Girls' Right to Education and Safeguarding Cultural Heritage through Education in Pakistan," has been implemented in the districts of Swat and Bahawalpur. Its primary objectives include strengthening government educational capacity, improving education quality, and enhancing girls' access to schools.

The second project, known as "Olive Culture," focuses on cultivating olive trees, which are low maintenance and high-yield. This initiative has proven successful in Pakistan, contributing to nutrition, environmental resilience, increased female participation, and a consistent source of primary or supplementary income for beneficiaries.

Francesco Zatta also highlighted the Pakistan Italy Debt Swap Agreement initiated in January 2009, which has led to the execution of 48 impactful projects across various districts in Pakistan. AICS remains committed to its mission of providing assistance, enhancing local capacities, and supporting fundamental needs in alignment with Pakistan's sustainable development strategy.