Italian Republic Day: Message from Salvatore Parano, Italian Trade Commissioner for Pakistan
It is with great pride that I extend my greetings to the readers of this special supplement, commemorating the Italian National Day set to be celebrated on June 2nd, 2025, in Islamabad and Karachi. As we navigate through the complexities of rising trade policy uncertainty and rapid surge of tariffs, the role of trade promotion becomes increasingly vital. International trade statistics show that over the last hundred years, the growth in commerce has outpaced the economic growth. Today, trade promotion is becoming increasingly important for the gdp growth and complex to manage.
The Italian Trade Commission (ITA) office in Islamabad has been fully operational in the last 18 months and, together with a dedicated desk in Karachi, has been meeting the needs and requirements of the business sector of our two economic systems. The Italian Trade Commission (ITA) is the national trade and investment promotion agency whose duty is to develop, facilitate and promote the international competitiveness of italian companies, with particular emphasis on the needs of small and medium sized businesses.
In Pakistan, the Italian Trade Commission has always worked under the auspices of the Embassy and the Consulate of Italy to enhance the existing trade relations between our two countries.
Pakistan's goods and services trade with Italy witnessed a robust surplus during fiscal year 2024. Trade surplus came in at €558.633 million in FY2024 against €666.110 million a year ago, showing moderate decline of 16,1%. The Overall italian exports to Pakistan stood at € 467.158 million during 2024 against imports of €1,025.991. On a year-on-year basis, exports to Italy decreased 6,2% while imports from Italy increased 9.04%.
We look forward to increased interaction between Italy and Pakistan in the years to come and for Italy to become major stakeholder in Pakistan's industrial growth and development, not only in terms of provider of technology for Pakistan manufacturing units but also in terms of quality standards of fast moving consumer goods in which Italy has a worldwide reputation and can represent a win-win best practise for Pakistani partners and new products.
Opportunities for the bilateral Trade:
Currently, our industrial system is increasingly focusing its attention on the Asian region, with a particular emphasis on Pakistan. Through our privileged position, we are able to identify and often anticipate the significant commercial and economic opportunities that Pakistan can offer during this transformative phase in the global economy. We aim to share these opportunities with Italian companies, fostering collaboration for mutual benefit.
The Italian institutions present in Pakistan have identified three large areas of opportunity to enhance collaboration, benefiting both economic systems:
• Product diversification and modernization for export led industries,
• Agricultural mechanization and resilience,
• Energy generation and efficiency,
Pakistani businesses and entrepreneurs are encouraged to connect with the Italian Trade Commission to explore the vast opportunities that await for them. Together, we can build an even more prosperous future for our economic resources.
BuonFestadellaRepubblica!
(Happy Republic Day!)
Copyright Business Recorder, 2025
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