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Pak-Italy Economic Relations: Foreign Remittances Ascend Upto 92%

According to Andrea Ferrarese, the Italian ambassador to Pakistan, “huge opportunities exist to increase mutual trade and investment between Pakistan and Italy,” and businesspeople and merchants from both nations stand to benefit.

Read: Azad Pattan Power Project to Generate 3064 GWH Electricity

In August 2021, Italian employees’ remittances to Pakistan increased by 92 percent compared to August 2020, making Italy the largest sender of remittances from the European Union.

According to data, workers’ remittances from Italy to Pakistan reached an all-time high of $601 million in FY21, making Italy the sixth largest global source of workers’ remittances to Pakistan and the first EU country.

Read: Pakistan to Implement International Commitments Agreed Under GSP+ Mechanism

In a speech to the business community in Islamabad, the envoy urged Pakistani businesspeople and merchants to strengthen bilateral trade and economic ties between the two nations.

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