Pakistan and Italy have signed a ‘Roadmap for Cooperation’ agreement for Trade & Investments, Heritage, Culture, Climate Change, Agriculture, Higher Education, Technical Cooperation, and Transfer of Technology in cited sectors.
Minister for Climate Change & Environmental Coordination Senator Sherry Rehman and Deputy Minister for Foreign Affairs & International Cooperation Maria Tripodi, Co-Chaired the 5th Session of ‘Pakistan-Italy Joint Economic Commission’ (JEC) at the Italian Ministry of Foreign Affairs in Rome, on May 29, 2023.
Lauding the forthcoming establishment of the ‘Italian Trade Agency’ Office in Islamabad next week, both sides concurred to establish a ‘Joint Framework’ for combating ‘Climate Change’ and cooperation in ‘Water Management’.
Both sides appreciated the unprecedented bilateral trade of $2Bn in 2022, with Pakistani exports breaking the ‘Billion Dollar’ barrier, and the near-$1Bn home remittances from 300,000 Pakistanis residing across Italy, the largest expats community across the EU.
A robust presence of Pakistani Businessmen at the ‘G2B Session’ representing Leather, Textiles, and Footwear Associations was matched by Italian counterparts from national Chambers, Trade & Investment Finance Agency (SIMEST), Italian Trade Agency (ITA) as well as Footwear, Textiles, Agricultural Machinery & Olive Culture.
Welcoming the finalization of the ‘Agreement for Abolition of Visas for Diplomatic Passports’, both sides reaffirmed commitment to fast-track negotiations to finalize the framework for ‘Migration & Labour Mobility’ along with other under consideration accords.
The Event was concluded by Co-Chairs signing a substantive ‘Roadmap for Cooperation’, covering Trade & Investments, Heritage, Culture, Climate Change, Agriculture, Higher Education, Technical Cooperation, and Transfer of Technology in cited sectors.
Next JEC shall be hosted in Islamabad at a mutually convenient timeframe.