Consul General of Italy in Karachi Fabrizio Bielli on Wednesday emphasized the need to enhance economic, trade, and investment ties between Italy and Pakistan, setting an ambitious yet achievable target of doubling the existing trade volume to at least $3 billion in the coming years.
“There is significant untapped potential in various sectors, including energy, agriculture, water recycling, and industrial machinery,” he said during a visit to the Karachi Chamber of Commerce and Industry (KCCI). “Italy is a global leader in producing high-quality machinery for the textile sector as well as advanced medical equipment, including incubators for newborns. We are in a strong position to support Pakistan in addressing its growing healthcare infrastructure needs,” he added.
Having taken charge as consul general two months ago, Bielli expressed keen interest in exploring Karachi’s economic landscape and its potential for future collaboration. “There are promising prospects in the pharmaceutical sector as well,” he said. “We should work towards creating joint ventures to manufacture Italian pharmaceutical products in Pakistan.”
In support of this objective, he advised the KCCI to develop and share a comprehensive sectoral requirement report three times a year. “This document would help us channel key insights to the relevant sectors in Italy, enabling Italian institutions and businesses to better understand the opportunities available in Karachi and across Pakistan,” he said.
He encouraged KCCI members to leverage services offered by the Italian Trade Promotion Section at the Consulate. He noted the section was actively working to boost bilateral trade and investment, with a particular focus on supporting small and medium-sized enterprises. “More than just a window, a door is open at the Italian Consulate for promoting trade and investment ties,” he said. “Let’s work together to identify opportunities and strengthen economic and commercial relations between our two countries.”
During the visit, KCCI Senior Vice President Ziaul Arfeen noted that the European Union is Pakistan’s largest export destination, surpassing $8 billion in fiscal year 2023-24, and Italy is a significant trading partner. “The bilateral trade volume between the two countries crossed $1.6 billion in FY24, with the balance of trade favoring Pakistan,” he said, adding Pakistan’s exports to Italy totaled $1.12 billion.
According to Arfeen, the recent hike in U.S. tariffs is an opportunity for Pakistan to strengthen ties with its strategic and trade partners. “This is also an opportunity for Pakistan and Italy to find ways and explore avenues to pursue economic diplomacy to enhance bilateral trade and boost exports between the two countries,” he added.
Arfeen said that by adopting global best practices such as the circular economy, water treatment, and renewable energy, Pakistan could significantly enhance the sustainability of its textile sector, improve productivity, and boost product quality. “Pakistan and Italy can also work together to bring advanced engineering and design expertise into the local automotive industry,” he said.
Emphasizing Pakistan’s strategic location, $374 billion GDP, 241.49 million population, and rich natural and energy resources, the KCCI official said it was a prime destination for global business and trade. The coastal belt of more than 1,000km, stunning tourist attractions, and special economic zones under the China-Pakistan Economic Corridor (CPEC) enhance this appeal, he added.
“The Special Investment Facilitation Council (SIFC) targets sectors like mining, energy, agriculture, I.T., and tourism through a one-window facility,” he noted. “Thus, Italian companies can seize investment opportunities in CPEC and SIFC, which are the tools for regional economic transformation,” he said, adding both countries can develop public-private partnerships in tourism, hospitality services, and launch joint campaigns to attract more international visitors, driving growth and boosting revenue.