February 27, 2020: Badar Shamim, former Chairman, Brampton Board of Trade, Canada and President, Candus International Consulting Thursday said that Pakistan’s ICT companies have great potential to explore business partnerships in Canada.
He along with Ms Margaux McDonald, Senior Trade Commissioner of Canada in Pakistan visited Islamabad Chamber of Commerce and Industry and exchanged views with Muhammad Ahmed Waheed President, Tahir Abbasi Senior Vice President, Saif ur Rehman Vice President.
They also met with other members of the local business community for further improving bilateral trade and economic relations between Pakistan and Canada, said a press release.
Badar Shamim said that Canada has $800 billion annual trade with USA and Pakistan could get beneficial results for its economy by promoting trade cooperation with Canada.
He said that Canada has signed FTAs with G-7 Group countries and Pakistan can increase its exports to these countries by promoting trade with Canada.
He said that Pakistan could attract FDI by developing transparent trade laws and regulations.
He said that needs for capital and development projects were emerging in developing countries and his purpose of visiting Pakistan was to explore JVs and investment prospects for Canadian companies.
He assured that he would try to share information about business and investment opportunities in Canada for Pakistani companies with ICCI so that its members could capitalize on them.
Muhammad Ahmed Waheed, President, Islamabad Chamber of Commerce & Industry said that Pakistan was an emerging market and emphasized that Canadian investors explore JVs and investment with technology transfer to achieve lucrative results in Pakistan.
He said that many MNCs of the world were now taking a keen interest in Pakistan and time was ripe for Canadian companies to seriously look at business prospects in Pakistan.
He said that by investing in Pakistan, Canadian companies could get easy access to Central Asian and other markets.
He said that Pakistan-Canada bilateral trade was around 1.5 billion dollars, which was far less than the actual potential of both countries and stressed that both sides should make strong efforts for trade promotion.
He assured that ICCI would fully cooperate with Canadian companies in finding the right partners in Pakistan.