Thursday December 02, 2021

Pakistan, Italy economic ties

October 16, 2021

ISLAMABAD: Pakistan, Italy economic relations were on a growth trajectory, with Pakistani workers remittances’ from Italy rising 66.5 percent and Pakistan’s exports to Italy going up 34 percent during the first quarter of financial year 2021-22.

Pakistan’s envoy to Italy, Ambassador Jauhar Saleem said Italy has emerged as Pakistan’s largest source of workers remittances from the European Union and the second largest in Europe after the United Kingdom.

The 66.5 percent growth witnessed in the first quarter of FY 2021-22 was many times higher than the overall national growth of 12.5 percent in workers remittances seen during the same period.

Saleem applauded the 200,000 strong Pakistani diaspora in Italy. Legalisation of thousands of undocumented Pakistani workers through Italian amnesty scheme, inclusion of Pakistan in Italian Seasonal Work Visa Program, State Bank of Pakistan’s consumer friendly financial products and programmes, and Pakistan Embassy’s awareness campaign to promote formal channels of remittances have been the main factors driving the unprecedented remittances growth from Italy, he shared.

He said that last month the embassy coordinated the visit of a 30 member Pakistani delegation from the leather sector that, according to Pakistan Tanners Association, inked business contracts worth €11.9 million with Italian companies.