Italian Development Council inaugurated

Saturday, November 21, 2009
News desk

KARACHI: Italian Development Council, an affiliate of the Italian International Chambers of Commerce for promotion of trade and industry between Pakistan and Italy, was launched recently.

The IDC is committed to boosting bilateral trade and investment between both the countries. Italy Ambassador Vincenzo Prati highlighted importance of Pakistan as a trade partner on the occasion.

Saleem Mandviwalla, Board of Investment Chairman, said formation of the IDC is a sign of commitment from the Italian trade community. He hoped success of the IDC. Tariq Ikram, IDC President told the participants that the IDC has planned to hold a single country roadshow of Pakistan in Italy by the end of May 2010 with partners like Trade Development Authority of Pakistan, Board of Investment, Punjab Board of Investments and trade to bolster business from Pakistan. It will invite investors and businessmen from Italy as well. A conference will also be held during this roadshow.

President Asif Ali Zardari, in a message, said the inauguration of the Italian Development Council (IDC) is a landmark development for promoting business and trade ties between Pakistan and Italy. He congratulated the Pakistani and Italian businessmen and entrepreneurs for forming this important professional body of investors and entrepreneurs.

He said: “I wish to acknowledge the efforts of the Italian Ambassador in Pakistan Vincenzo Prati and the Italian Consul General in Karachi for lending crucial support for the establishment of IDC.”

He said there are many areas of business and trade in which Pakistani and Italian businessmen can cooperate for mutual benefit. Food and agriculture, gemstone technology, marble quarrying and cutting, oil exploration, energy, textiles and leather value addition are some of the areas where the investors and businessmen from the two countries can do mutually profitable business.

Pakistan offers a host of incentives to enterprising businessmen and investors. The incentives offered include Special Economic Zones promising long tax holidays, low cost labour force, one window operation for setting up businesses and a very competitive environment to do business.