ISLAMABAD - The second session of Pakistan-Italy Joint Economic Commission, held in Islamabad yesterday, discussed the current status of the economic situation, an overview of reforms, priorities, bilateral, institutional and trade relations.

The Italian delegation was led by Mr Ivan Scalfarotto, Deputy Minister for Economic Development while Pakistan’s side was led by Rana Muhammad Afzal Khan, Parliamentary Secretary for Finance and Economic Affairs. Both the sides identified areas of cooperation and agreed on the need to have greater economic and commercial exchanges for mutual benefits of the two countries.

The inaugural session of the JEC was held in Rome, Italy, on March 22-23, 2006. The two sides agreed to form four working groups: Energy and Infrastructure Development, Trade and Joint Venture, Agriculture and Agro Industries and Information Technology Collaboration. The second session of the JEC was held in Islamabad after the passage of a decade. Along with the Italian co-chair, 25 official delegates from different departments of Italy also participated in the JEC.

From Pakistan’s side, the Economic Affairs Division secretary, senior representatives from the Finance Division, Ministry of Foreign Affairs, Commerce, Water and Power, National Food Security and Development, Climate change, Communication, Federal Board of Revenue, Board of Investment and provincial departments of agriculture participated in the event.