LAHORE - Pakistan has a shining future and was a best destination for doing business and picture portrayed by international media about this great country has nothing to do with reality.

Top businessman from Italy, Massimiliano Pasqualini expressed these views in a meeting with acting president of Lahore Chamber of Commerce and Industry (LCCI) Khawaja Shahzad Nasir, vice president Fahim-ur-Rehman Sehgal and former Executive Committee member Chaudhry Khadim Hussain here on Saturday.

Terming Pakistani nation as peace loving, he said, “There is no truth behind the negative propaganda by the international media as I have found Pakistan a great country with immense economic potential.”

Massimiliano Pasqualini said that businessmen of both the countries should hold sector-wise study to evolve a comprehensive joint strategy to enhance volume of trade between the two brotherly countries.

He said that Pakistan was the most important country of Asia and its private sector had the ability to do a lot at economic front. They must have strongest liaison with their Italian counterparts to extract huge benefits from Italian expertise.

He said that businessmen of Italy consider Pakistan as an emerging market and were keen to make investment and joint ventures in various economic sectors, asserting that there was a huge business potential in the two countries that should be tapped. He said that there was a vast scope for joint ventures in energy, pharmaceutical, agro infrastructure, automobile, textile and marble sectors.

LCCI acting president Khawaja Shahzad Nasir said that Italy had been very supportive to Pakistan within the European Union (EU) with special reference to trade-related issues. Italy was Pakistan’s third biggest market in Europe and bilateral trade was likely to touch new heights in near future.

He said Pakistan attached the highest importance to its relations with Italy in various fields. He said that climate for foreign investors in Pakistan was so conducive that they could now have 100 per cent equity and there were no restrictions on remitting dividend, profits, fee etc.

“The Italian investors can invest in agro-based industries, construction, mining, textiles and tourism sectors, where Pakistan could contribute and find complimentary areas in design and fashion. Other sectors included IT and telecommunication,” he maintained.

LCCI Vice President Fahim-ur-Rehman Sehgal said that Italian businessmen could take advantage from the investment-friendly climate of Pakistan that offered best return on the foreign investment with economic policies providing for legal protection to foreign investment. Despite ups and down and other problems, not a single foreign investor had suffered in Pakistan.

He said that it was high time for the Italian investors to come to Pakistan and make investments as the country was fast becoming hub of economic activity in the region. He said that there was vast scope in the field of dairy products in which Italy enjoys expertise and hence both the countries could make huge profits.

Chaudhry Khadim Hussain said that Italy was an important trading partner of Pakistan in Europe which simultaneously came at 4th place among the top importing and exporting destinations for Pakistan in European Union. He said that it was encouraging to see that volume of bilateral trade was being maintained over one billion dollar.