ISLAMABAD: Pakistan’s foreign secretary stressed increasing bilateral cooperation with Italy in defense, agriculture, and economic sectors, state-run media reported this week, as the South Asian country eyes increased foreign trade and investment with other nations. 

Pakistan has always aimed to enhance its ties with European Union (EU) countries. The EU is Pakistan’s second most important trading partner, accounting for over 14 percent of Pakistan’s total trade and absorbing 28 percent of Pakistan’s total exports. 

The sixth round of Pakistan-Italy Bilateral Political Consultations (BPC) convened in Rome on Saturday, in which both sides expressed satisfaction at the “positive trajectory” of bilateral relations, the state-run Associated Press of Pakistan (APP) reported. 

“Foreign Secretary Amna Baloch while highlighting the growing trade relations between the two countries underscored the immense potential to further expand cooperation in the areas of economy, development, agriculture, defense, higher education and people-to-people contacts,” APP said. 

Italian foreign ministry’s Secretary General Ricardo Guariglia led the talks from the Italian side, state media said. 

“Both sides appreciated the similarity of views on a number of international and regional issues as well as close coordination in the UN,” the report said. 

The two representatives agreed to convene the seventh session of the dialogue next year in Pakistan, APP said. 

Pakistan has increasingly eyed foreign trade and investment from friendly countries and regional partners ever since it came to the brink of a sovereign default in 2023, before it was saved by a last-gasp bailout deal that it clinched with the International Monetary Fund (IMF). 

The South Asian country has since then attempted to undertake long-term financial reforms, increasing its exports and attracting foreign investments from other countries to ensure sustainable growth. 

It formed the Special Investment Facilitation Council (SIFC) to attract international investment in agriculture, energy, livestock, tourism, mining and minerals and other priority sectors.