Pak exports to Italy exceed imports level

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Chief Executive Officer Pakistan Furniture Council (PFC) Mian Kashif Ashfaq Sunday disclosed that for first time in Pakistan’s history, the country’s exports to Italy exceeds the imports from Italy depicting upward trends in promotion of bilateral trade between the two countries. Talking to a delegation of exporters and importers led by honorary Investment Consular and Tourism Ambassador for Italy Muhammad Sheheryar Khan, he said bilateral trade volume between Italy and Pakistan has exponentially grown from € 1.42 billion in 2019 to €1.52 billion in 2021. He said Ambassador of Italy to Pakistan, Andreas Ferrarese, is a key driving force behind the further cementing trade relations with both countries.

He said although global trade shrank during the Covid-19 pandemic, Pakistan’s exports to Italy in 2021 grew by 22.1%, with a total value of €763.51 million. In the same period, Italian exports to Pakistan saw an increase of 48.6%, with a total value of €754.06 million. The trade volume in Jan-Feb 2022 stood at €289.37 million compared to €203.41 million during the same year in 2021 he added. With its unique geo-strategic location and improved security conditions, Mian Kashif Ashfaq further said that Pakistan offers excellent investment opportunities for Italian companies.—APP

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