Pakistan and Italy will expand and promote mutual trade in garments and textiles. Trade bodies of both countries will manage business contacts, seminars, business meetings, presentations, exhibitions and other arrangements to make potential partners and export possibilities available.
They will assist in small and medium-sized business development, provide technical assistance, search for partners for trade and joint ventures as well as render other services of interest for business enterprises of both parties. Pakistan will provide visa assistance for Italian companies, besides arranging factory visits for Italian delegations and B2B meetings with its members on their arrival in Pakistan. The MoU will go a long way in helping Pakistan’s value-added garment manufacturers to find their way into Italian market.
The countries have agreed to regularly exchange, provide and update each other on information that they have about new technological developments for machinery and accessories for the textile sector in Italy and the international market as well as information about the textile sector in Pakistan. Italy is Pakistan’s largest export destination within the EU after the United Kingdom and Germany.
Pakistani exports to Italy consist of textiles, clothing and leather apparel. Around 90 per cent of Pakistan’s exports to Italy are textile- and leather-related products. Almost half of Italy’s exports to Pakistan fall in the category of machinery and equipment.