Italy and Pakistan
have recently signed new agreements
for specific economic activities. At the Pak-Italy Joint Economic Commission
, the parties signed three letters of intent
in the fields of textiles, footware and stone
. For the latter business activity, the parties also concluded a memorandum of understanding
, set up between the institutions regulating this field of operations. Our team of lawyers in Italy
can assist businessmen with advice on other agreements
signed in this country.
Business relations between Italy and Pakistan
The representatives of Italy and Pakistan
have discussed on the manner in which bilateral relations
can be further enhanced and, at the same, how to increase the level of investments
between the two states; our team of Italian lawyers
can advise on the legislation for investments
It was noted that the bilateral trade
between Pakistan and Italy increased in 2016
and that this activity can be further developed, as it did not reach its full potential. In order to increase the business activities between the two countries, the representatives of both states mentioned that it is necessary to facilitate the market access
operating in various business fields, as well as to diversify the range of goods and services traded between Italy and Pakistan
In this sense, the parties have agreed on the following:
• increase the level of institutional collaboration;
• promote the development of small and medium sized companies;
• promote specific business activities.
The main business operations that will be promoted in the near future are:
• oil and gas;
Trading between Italy and Pakistan
Following the access of Pakistan
at the generalized scheme of preferences (GSP)
concluded with the European Union
, the trading activities
between Italy and Pakistan
have increased in the last four years by 35%
. In 2014
entered the GSP Plus
, which allowed it to import
products on the European Union’s market
, a regulation which is available up until 2023.
If at the level of 2013, the total level of trade between the two countries was set up at EUR 909.96 million, in 2016, it reached EUR 1.2 billion.
Businessmen are invited to contact our law firm in Italy
for further information on the applicable regulations related to the business sectors presented above.