Islamabad: Pakistan’s Ambassador to Italy, Jauhar Saleem stated that the country’s exports to Italy will reach USD 1 billion during the fiscal year (FY) 2021-22, according to news sources on April 29. Exports were reported to have increased by 41% this year compared to the previous fiscal year (FY) 2020-2021.
During a Zoom session with journalists, the ambassador stated that exports had reached USD 805 million in the first nine months of the current fiscal year. This has resulted in a USD 372 million trade surplus that is 65% higher than the same period last year. According to the ambassador, the services industry has been the most significant sector in expanding trade between the two countries.
Moreover, Ambassador Saleem also highlighted the remittances potential of the Non-Resident Pakistanis (NRPs) residing in Italy. The NRPs have spent USD 639 million during the first nine months (July-March) of FY22.
In response to the questions over the Basmati rice market in the EU, he said that Pakistan has successfully maintained Basmati’s exclusive Geographical Indication (GI) with 38% of the rice exported, while India has contributed just 12 % of the overall rice market. He said that Italian companies are in touch with the Pakistani authorities and will invest in energy, food processing, leather, textile, construction, and furnishing sectors.
Mr Saleem also shared details about the Italian Seasonal Work Visa for 2022, under which Italy would allow 69,700 seasonal workers to work in the agriculture and services sector in 2022. In addition, he said that both the countries are in formal negotiations over a labour agreement which would open the Italian market for the Pakistani citizens.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
