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January 22, 2020

Fiat Looking at Pakistan as Possible Investment Destination

Italian car manufacturer Fiat was looking at Pakistan as a possible investment destination, Italy’s new envoy for Pakistan Ambassador Stefano Pontecoryo said.

At a meeting with Pakistan’s Finance Minister Ishaq Dar in Islamabad on Dec. 10, the ambassador said that Pakistan not only provided lower labour cost but also could be a hub for Fiat exports to a wide region extending from China in the east to Lebanon in the west and including entire central Asia, a statement from the Finance Ministry said.

Italy is seeking to boost its commercial ties with Pakistan and plans to reopen its Trade Commission in Karachi and reinforce its Trade Office at the embassy in Islamabad to also cover the industrial city of Sialkot and Lahore. Italy’s Trade Commissioner is due to visit Pakistan next week for discussions on business and trade.

A delegation of Italian businessmen would visit Pakistan early next year to establish contacts with the business community in the South Asian country.

“Transport, agricultural machinery, frozen food, furniture making, marble industry, textile, leather and energy sector would be our main areas of interest” said the Italian envoy.

Finance Minister Dar noted the untapped business potential between the two countries and offered to hold “Investment Promotion Conference” to make information available to the potential Italian investors.

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