KARACHI: There is huge potential to increase bilateral traded between Pakistan and Italy and the volumes could increase to $5 billion.

These views were expressed by Italian Consul General in Karachi Danilo Giurdanella while talking on “Business Opportunities between Italy and Pakistan”, at a meeting jointly organized by Rotary Club of Karachi Centennial and Rotary Club Karachi South at a local hotel on Saturday.

He said that current volume of bilateral traded between the two friendly countries is less than $2 billion.

He informed that Italy is one of the largest buyer of Pakistan rice especially basmati rice. Over 80 percent rice consumed in Italy is imported from Pakistan, he added. Besides rice, Italy imports leather and its products, textile and other items from Pakistan.

Pakistan exports textile machinery, pharma and medical devices and other items from Italy.

He pointed out that Italian Consulate General is making all its efforts to improve trade between the two countries. There is huge potential to work together especially in tourism, renewable energy and other sectors, he said.

He said Italy is 8th largest economy and 10th highest exporter in the world. Pakistan and Italy enjoy good relations. He said Italy was one of the biggest supporters of Pakistan for GSP Plus status in the European Union member countries.

Charter President, Rotary Club of Karachi Centennial Navaid M Khan, Rotary Club Governor Dr Aftab Imran and others also spoke on this occasion and expressed their view over trade relations between the two countries. They also gave suggestions to increase bilateral trade between Pakistan and Italy.

A large number of people from different walks of life attended the event.