KARACHI: Canadian government and the private sector are interested topromote bilateral trade and investment in Pakistan as Canada sees anemerging potential economy and big market.
Last year, the bilateral trade figured dollars 1.4 billion, which someyears back was only $ 400 million.
And, this can be increased to $ 5 billion in next five years by takingpromotional steps on both the sides, said Ontario’s (Canada) formerminister for research, innovation and science, Dr. Reza Moridi whiletalking to media at the Gong ceremony here at Pakistan Stock Exchange onTuesday.
Hence, the bell in PSX Trading Hall is struck three times in the morning tomark the start of trade at the exchange. PSX’s CEO, Richard Morin and themembers of the Board of Directors along with senior management officers ofPSX participated.
Dr. Reza Moridi jointly headed the Canada Pakistan Business Council and ICT20-member delegation from Canada on visit to Pakistan.
Other person leading the delegation was President, Ontario Chamber ofCommerce Rocco Rossi. Dr. Moridi said many Canadian companies – engaged indifferent sectors including infrastructure, energy, information andcommunication technology- are interested in promoting bilateral trade andinvestment.
He said Pakistan is of more than 200 million consumers market and anemerging potential economy. This is very encouraging for Canadian companiesto sell their goods and make investment here.
“We want to bring two nations together by increasing interaction at thegovernments and private sectors level,” he asserted.
He said Canada is a member of G-7 block and that Pakistan should focus onit for trade and investment. He acknowledged that Pakistan was the firstcountry who produced a noble prize winner in physics named Dr. Abdul Salam.
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President and CEO of Ontario Chamber of Commerce, Rocco Rossi said that therepresentatives ICT companies in Canada amongst the delegates also had comewith a big agenda for collaboration with Pakistan’s private sector and forthe investment.
President, Canada Pakistan Business Council, Samir Dossal informed thatthis high profile Canadian delegation was scheduled to leave for Islamabadon Tuesday evening, where the representatives of differentsectors/companies of Canadian Government would have meetings with topPakistan government functionaries including the Ministers for Finance,Trade, Industries, Foreign Affairs besides the business communityrepresentatives to further the agenda of promotion of bilateral trade,investment and economic collaboration between Canada and Pakistan.
He said formation of trade and investment policies was the governments’job. And, he continued, conversation at the two governments level hadstarted on different trade and investment issues. But, we are for thepromotion of the two private sectors.
Every year, CPBC invited here some important personalities from Canada forthe same cause, he said.
He said for the first time, Canadian government had appointed a full-timeTrade Commissioner in Karachi to boost the bilateral trade. This showed theseriousness of Canadian Government on this account.
Canadian Senior Trade Commissioner here Margaux McDonald said the visit ofCanadian delegation to Karachi and Islamabad would prove helpful inpromoting the bilateral trade and investment in various sectors of Pakistan.
PSX’s Chief Executive Officer, Richard Morin welcomed the delegation andassured all kind of cooperation and support to Canadian companies, onbehalf of PSX.
