By Naveed Meraj and Shahid Qureshi
ISLAMABAD: In a vibrant celebration of cultural exchange, the Embassy of Italy hosted an evening of festivities, featuring renowned designer Stella Jeans who showcased her distinctive work.
Italian Ambassador to Pakistan, Andreas Ferrarese, expressed Italy’s commitment to bolster trade with Pakistan up to 2 billion US Dollars, underlining the strong economic ties between the two nations.
Ambassador Ferrarese reassured full Italian support for Pakistan in attaining GSP+ status, emphasizing the commitment to fostering mutual economic growth. A significant development came with the extension of the Pakistan-Italian Debt Swap Agreement (PIDSA) timeline until December 31, 2024.
The agreement, initially signed in 2006, involves swapping approximately $100 million of Pakistan’s debt to Italy for development projects in sectors like health, education, agriculture, and environment.
During the extension period, the remaining PIDSA activities, including debt cancellation, ongoing project completion, asset transfer, impact evaluation, and a final report, will be accomplished.
The PIDSA Management Committee, co-chaired by the Italian Ambassador and the Secretary of the Ministry of Economic Affairs, oversees the decision-making process.
The evening also celebrated Stella Jeans, whose fashion journey involved extensive exploration of Pakistan’s Northern Areas, including Chitral, Kalash, Gilgit, and Hunza. Having presented her collection at the Milan Fashion Week, Stella highlighted the handiwork and craftsmanship of women from Pakistan’s north. Inspired by their resilience, her spring/summer 2020 collection aimed to empower these women through employment, adding a meaningful touch to international fashion.
This cultural event not only showcased the fusion of Italian and Pakistani influences but also underscored the shared commitment to economic cooperation, trade enhancement, and the promotion of Pakistan’s rich cultural heritage on the global stage.
