Canadian investors urged to explore Pakistan

KARACHI: Pakistan has invited Canadian companies to benefit from the investment opportunities unfolding in the country following game-changing economic development and
rising demographic dividend, a statement said on Monday.

"As Pakistan is on a threshold of economic boom, there lies a huge potential for Canadian firms to capitalize on the spurring growth that has led to huge demand of consumer goods,” High Commissioner to Canada Tariq Azim Khan told Chuck Davidson, president of Manitoba Chamber of Commerce during a meeting in Winnipeg.

“Pakistan’s GDP growth before 2013 stood at 3 percent, and now it is expected to achieve 5.5 percent growth rate this year.”

Khan informed Davidson Pakistan’s economy is set to grow over 8 percent between 2018 and 2025 --with a single-digit inflation.

“Pakistan Stock Exchange (PSX) has been declared the best performing capital market in Asia
and its benchmark index has risen from 18000 to 50,000 in only three years,” he added.

The Chinese investment, he said, in China-Pakistan Economic Corridor (CPEC) and the booming middle class in Pakistan have boosted the confidence of foreign investors to a heartening measure.

“The ongoing infrastructure and energy projects under China-Pakistan Economic Corridor will usher in a new era of prosperity and development in the region,” the Pakistani high commissioner said.

Khan also briefed Davidson the trade between Pakistan and Manitoba province has risen almost 100 percent during the last two years, but still, there exists a huge potential for enhancing trade between the two countries.

“Textile products including bed linen, sports goods, surgical instruments, basmati rice, leather products, and mangoes from Pakistan are of best quality in the world,” Khan said offering the chamber to host a delegation of Canadian investors in Pakistan, where they can explore the investment opportunities that lie in the country and meet with their counterparts for developing synergies.

Speaking on the occasion, Davidson told Khan the cultural diversity of the province due to immigration boom during the last few years has had a positive impact on economy of the province.

“Manitoba has a diverse economy led by the agriculture sector. Its main exports to Pakistan were agriculture products including lentils, seeds, oilseeds and spices,” he added.  Moving forward, he agreed there was a huge potential for cooperation between Manitoba and Pakistan, while both sides agreed to work together for enhancing trade and for exchange of business delegations for exploring trade opportunities. Anis Khan, President Pakistan Business Association of Manitoba was also present in the meeting.