Publish Date : 5/18/2007 6:38:00 AM Source : PRO to CM
As part of the Government of Pakistan’s strategy to secure greater and more favorable market access and as part of lobbying in various European capitals on the issue of Pakistan – European Union Free Trade Agreement, Federal Minister of Commerce Mr. Humayun Akhtar Khan has arrived in Italy.
The Federal Minister of Commerce held separate meetings with Italian Deputy Prime Minister and Foreign Minister Mr. Massimo D’Alema and the Minister for International Trade and European Policies, Emma Bonino; and representatives of major exporters of textile machinery to Pakistan. A wide range of bilateral trade and economic matters were discussed with complete understanding of each other’s position on the bilateral and multilateral trade matters.
Mr. Humayun Akhtar Khan at the outset acknowledged the support of the Italian Government. He stressed upon Italy to continue its support for meeting and sustaining the development needs of Pakistan. The Minister elaborated that at this stage when Pakistan and European Union are due to meet for the first time for the Joint Commission meeting, we expect more understanding and cooperation from member states of the European Union on the commencement of negotiations leading to and FTA with the EU.
The Minister of Commerce effectively laid out the case for Pakistan. He pointed out the highly vulnerable export base of Pakistan’s economy and how important it was for the European Union to ensure the continuity of their understanding of the market access issue. The Italian Foreign Minister welcoming Mr. Humayun Akhtar Khan expressed his enthusiasm to his official visit to Pakistan next week. The forth coming visit will further increase bilateral and trade ties between the two countries.
The Italian Minister appreciated the arguments put forth by the Commerce Minister. Mr. Massimo D’Alema stated that both countries stand to gain by collaborating and expressed complete understanding on Pakistan’s request for support on the issue of Pak – EU FTA. At the meeting with Emma Bonino, Minister for International Trade and European Policies, the Federal Minister said that Pakistan expected understanding and Cooperation from Italy, at a stage when the Government is engaged in major social reforms, strengthens the democratic system, elimination of terrorism and helping to restore peace and stability in the region.
The Minister apprised his Italian counterpart that Pakistan is seeking immediate commencement of negotiations leading to an FTA with the EU- Pakistan. The Italian Minister expressed understanding on Pakistan’s viewpoint, and assured support of her government. She said that Italy is cognizant of Pakistan’s economic needs and values its relations with Pakistan, both bilaterally and as well as through the European Union. She opinioned, that Italy had always supported Pakistan’s political, economic, commercial and trade interests.
Mr. Humayun Akhtar Khan, Minister for Commerce had additional meetings with representatives of Italian textile manufacturing suppliers in Pakistan. The Minister apprised the importers of the contribution of the textile industry to Pakistan. The participants were briefed on the initiatives taken by the current government to increase exports and support foreign investors.
With exports of USD 485,285 million and imports of USD 523,590 (in 2006) Italy is Pakistan’s 7th largest export destination and 15th largest source of import.
Pakistan
