![Italy, Pakistan to expand relations in furniture industry](https://photo-cdn.urdupoint.com/media/2016/12/_2/740x404/pic_1481628902.jpg)
Italy, Pakistan To Expand Relations In Furniture Industry
Fahad Shabbir (@FahadShabbir) Published December 13, 2016 | 04:20 PM
![Italy, Pakistan to expand relations in furniture industry](https://photo-cdn.urdupoint.com/media/2016/12/_2/740x404/pic_1481628902.jpg)
LAHORE, (UrduPoint / Pakistan Point News - 13th Dec, 2016 ) : With improving law and order situation in Pakistan, there seems good potential of trade and investment between Italy and Pakistan, according to Pakistan Furniture Council (PFC) press release.
Italy will provide special package of incentives to investment companies and business counterparts besides promoting and expanding cooperation in furniture sector of either side, it said. As many as 37 Italian businessmen, headed by Italian Deputy Minister Ivan Scalfarotto, are currently on Pakistan visit for exploring the investment avenues besides joint ventures in various sectors.
The PFC organised a round-table discussion with the visiting Italian delegation, here on Tuesday. PFC Chief Executive Mian Kashif Ashfaq briefed the delegation about investment potential in Pakistan's furniture sector.
Business representatives from both sides agreed to regular exchange of visits, update each other on information that they have about new technological developments for machinery and accessories for the furniture sector in Italy and the international market as well as information about the production of furniture sector in Pakistan.
Italian Deputy Minister Ivan Scalfarotto said that Italy had always shown a keen interest in Pakistani market and had positioned itself among top ten global trading partners of Pakistan. "Italian companies will provide machineries and expertise for quality promotion and value addition of Pakistani products along with services for technological training and capacity building in rural development and health sector.
Additionally, we can also invest in large manufacturing and infrastructure sectors," he added. Mian Kashif said the total volume of trade between Pakistan and Italy stood at US$1.1 billion and was in favour of Pakistan but they had decided to enhance their bilateral trade to US$1.5 billion from this year, and they had fruitful meeting and discussions with Italian business delegation, who expressed their desire to explore investment opportunities in Pakistan.
There was much scope for Pakistan to explore cooperation in new areas, including trade and investment, for mutual benefit. He said that Italy was the fourth largest investor in Pakistan following China, UAE and Hong Kong with a total investment valuing US$100 million along with bilateral trade worth one billion Euro.
Our focus is on energy, infrastructure, automobiles, agro food, pharmaceuticals, marble, stones, furniture and textiles. Pakistan's main items of export are cotton fabrics, woven made-up articles of textile materials, articles of apparel, chemicals, leather products and cotton yarn.
Major items of import from Italy include machinery and its parts, cereals and cereals preparations, medical and pharmaceutical products and wheat, adding he said we want to diversify our exports and find new partners for doing business.
Related Topics
Recent Stories
![Cricket: England v West Indies 3rd Test scoreboard](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019914.jpg)
Cricket: England v West Indies 3rd Test scoreboard
![Finance minister briefs Chinese officials on refor ..](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019922.jpg)
Finance minister briefs Chinese officials on reform agenda, engagement with IMF
![Finland says Russian vessel violated its territori ..](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019912.jpg)
Finland says Russian vessel violated its territorial waters
![Olympic opening ceremony under way on River Seine](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019266.jpg)
Olympic opening ceremony under way on River Seine
![West Indies' treble strike rocks England in third ..](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019264.jpg)
West Indies' treble strike rocks England in third Test
![Ukraine court orders detention of suspect in murde ..](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019262.jpg)
Ukraine court orders detention of suspect in murder of nationalist ex-MP
![Long queues, ticketing problems ahead of Paris ope ..](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019015.jpg)
Long queues, ticketing problems ahead of Paris opening ceremony
![Rana Sanaullah Khan joins Paris 2024 Olympics inau ..](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019638.jpg)
Rana Sanaullah Khan joins Paris 2024 Olympics inauguration reception
![Glowing tributes mark 69th birthday of President Z ..](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019637.jpg)
Glowing tributes mark 69th birthday of President Zardari at Governor's House
![Players unaware of spying scandal as Canada Olympi ..](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019635.jpg)
Players unaware of spying scandal as Canada Olympic coach sent home: official
![Naqvi hails Pak women cricketers for going down fi ..](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019013.jpg)
Naqvi hails Pak women cricketers for going down fighting against SL
!['Sabotage' on French rail network before Olympics: ..](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019634.jpg)
'Sabotage' on French rail network before Olympics: What we know
More Stories From Pakistan
-
NDMA Advisory: More Monsoon Rains-wind, Thundershowers from July 28-31
6 hours ago -
Armed Forces, tri services chiefs pay homage to Captain Sarwar Shaheed
6 hours ago -
Agriculture dept inks agreement with Bakhabar Kissan
6 hours ago -
Rana Sanaullah Khan joins Paris 2024 Olympics inauguration reception
6 hours ago -
Glowing tributes mark 69th birthday of President Zardari at Governor's House
6 hours ago -
Balochistan CM announce depoliticizing of police, Levies force
6 hours ago
-
PTI creating unrest, halting economic progress in country: MNA
6 hours ago -
ISSI holds webinar on “Elections in Iran : Regional and International Insights”
6 hours ago -
ECP defers written test for seats of election officers
6 hours ago -
PN assists in firefighting, evacuation efforts for stranded civilians of Kashif Centre fire incident
6 hours ago -
Women's rights protection is govt's top priority. Hina Parvez Butt
6 hours ago -
"We stand in solidarity with Azma Bokhari”: Secretary Women’s Parliamentary Caucus
6 hours ago