Improving security to encourage Canadian investors: High Commissioner

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ISLAMABAD, July 18 (APP): High Commissioner of Canada
Perry John Calderwood Tuesday said security situation in
Pakistan was now improving, which would help Canadian investors to
explore business opportunities existing here.
Addressing the business community at Islamabad Chamber of
Commerce and Industry (ICCI), he said Canada was an advanced economy
and Pakistan could achieve better results by developing close
cooperation with it.
He said Canada was providing development assistance to
Pakistan for women economic empowerment, adding that the new
development policy of Canada would also benefit Pakistan.
He said Pakistan was a potential country for business and
investment and asked for enhancing cooperation in agriculture,
energy, mining and other sectors of the economy.
He called upon the private sectors of both countries to play
their leading role in exploiting these opportunities for the mutual
benefit of the two countries.
Canada and Pakistan could complement each other in many areas
by sharing expertise and developing partnerships, he added.
He said Canada was quite strong in oil, gas, hydro and solar
power and Pakistan could benefit from its expertise to improve its
energy generation.
Speaking on the occasion, President ICCI Khalid Iqbal Malik,
said Pakistan and Canada enjoyed old friendly relations as they
established diplomatic relations in 1947.
However, bilateral trade of just over $1 billion in 2015 did
not reflected the real potential of both countries.
He said trade in limited items was the main reason of low trade volume.
He stressed the both countries for focusing on trade
diversification to improve bilateral trade figure.
He said trade balance was in favor of Canada and it
should enhance its imports from Pakistan as many Pakistan products
could meet the needs of Canadian customers at affordable cost.
He emphasized that Canadian businessmen should benefit from
Pakistan’s IT-enabled services in animation and gaming, retail
banking and finance, mobile content, document management and call
centers.
He said Pakistan needed more oil rigs and mining equipment to
exploit its vast natural resources and Canada should take benefit of
these opportunities.
He said Canadian investors should also explore joint ventures
and investment in CPEC projects in Pakistan.
ICCI president said Pakistani exporters had to face
cumbersome visa formalities for attending trade fairs in Canada
while its travel advisories discouraged Canadian business people
from visiting Pakistan.