The Federal Commerce Minister Humayun Akhtar Khan on Tuesday discussed with the Italian officials about trade and economic matters, with complete understanding of each other's position on bilateral and multilateral business relations. Humayun Akhtar is, currently, in Italy to discuss enlarging the scope of bilateral trade and market access opportunities, for Pakistan, says a fax message received here.
The Commerce Minister held separate meetings with Adolfo Urso, Vice Minister-in-charge of External Trade and Giovanni Castellaneta National Security Advisor and the Principal Foreign Policy Advisor to the Prime Minister.
Humayun Akhtar highlighted the progress and stability, Pakistani economy had attained during the last few years as a result of astute economic policies of the government.
However, he stressed upon Italy to continue its support for meeting and sustaining the developmental needs of Pakistan.
He pointed out the highly vulnerable export base in Pakistan's economy and how important it was for the European Union to ensure the continuity of their understanding on the issue of market access.
Adolfo Urso, in the light of Italy's own proactive support for the fight against international terrorism, expressed his country's recognition and appreciation for the principled stand, Pakistan was taking in an ongoing fight against international terrorism.
He acknowledged Pakistan's commitment and struggle against international terrorism, which was at a huge cost to its own economy and social fabric.
He assured Italy's unequivocal support to protect and promote the interests of Pakistan.
Italian Minister shared and agreed with the Minister of Commerce that both countries stand to gain by collaborating in the textiles, leathers, marble and gems & Jewellery sectors and that there should be more interactions between enterprises of both the countries.
Urso expressed his enthusiasm to visit Pakistan along with a delegation of business people and entrepreneurs in April 2005 to further bilateral trade ties.
With exports of dollars 454 million and imports of dollars 312.6 million (in 2003-2004), Italy is Pakistan's 7th largest export destination and 15th largest source of imports.