Islamabad, 4 August 2021 (TDI): On Sunday, the Pakistan ambassador to Italy, Jauhar Saleem, discussed the growing economic dimensions of Italy and Pakistan’s relationship. The remarks were expressed in a Zoom meeting organized by the Pakistan embassy in Rome.
The ambassador reported a 49% trade surplus of $300 million during 2020-2021. Italy’s trade with the non-European world declined by 14 % since the pandemic hit. Pakistan however, reports a leading position in rice export with Italy of 37% share. The figures represent an efficient recovery from the economic fallout with the European trade since the onset of COVID-19.
Better trade represents a healthy relationship with Italy as remittances reach $601 million from Italy, 66% more than the last year. This makes Italy Pakistan’s biggest remittances source in the EU and the top 7th in the world.
The ambassador also expressed a positive forecast of the trade for future years as new negotiations on labor agreements and market access are being drafted.