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ISLAMABAD, Jan 13 (APP):President of the Canada Pakistan Business Council (CPBC), Samir Dossal, performed the ceremonial market opening “Gong Ceremony” at the Pakistan Stock Exchange (PSX) on Tuesday.
The event served as a celebration of the $1 billion bilateral trade milestone and the deepening institutional ties between the PSX and the Canadian business community, said a release issued here.
In his address, Mr. Dossal expressed profound gratitude to the PSX Chairman, Mr. Ruhail Muhamad and Managing Director and CEO, Farrukh Sabzwari, while offering special recognition to Nadeem Naqvi, director of PSX and also of CPBC, for his efforts in elevating Canada-Pakistan relations and facilitating a stronger dialogue and engagement between international investors and the Pakistan capital market.
Mr. Dossal noted that it was a special occasion given the excellent performance of the Pakistan stock market.
This sends a strong positive signal to potential Canadian investors, that Pakistan has successfully navigated the challenges of the last few years and is now on a strong footing for sustained growth, he said.
Pakistan, he said with a population of over 240 million, represents a large and growing market for many Canadian goods and services.
President CPBC said that at the same time, the large diaspora of Canadians of Pakistan origin provides the potential for two way exchange of knowledge, managerial skills, investments and business opportunities.
Mr. Dossal noted that since 2012, Canada Pakistan trade has grown from $300M to over $1 Billion annually. In particular, he highlighted several areas, including:
Talking on Agri- food Sector , he said that after 3 years, regulatory requirements have been resolved between Canada & Pakistan with 500,000 tons of Canadian Canola arriving at Karachi port.
He acknowledged, Deputy Prime Minister, Muhammad Ishaq Dar and Canada’s Minister of foreign affairs , Ms. Anita Anand for their high-level coordination and special thanks to High Commissioner Tarik Ali Khan his Islamabad team for making this landmark deal possible.
He said that CPBC worked hard to facilitate the academic partnership between NED & Toronto Metropolitan University led by Dr. Mohamed Lachemi.
The MoU that has been signed will go a long way in building the bridge between the two countries through knowledge and research.
The CPBC is the premier bilateral trade organization, recently celebrating its 42nd Anniversary and a legacy of facilitating trade exceeding $1 billion annually.