Mr. Pervaiz Malik, Commerce Minister of Pakistan held a meeting with Ontario Chamber of Commerce, here today to brief them on economic opportunities in Pakistan. President of Ontario Chamber of Commerce Mr. Rocco Rossi and representatives of large multinational companies of Canadian origin attended the meeting, says a press release received here today from Ottawa. The Minister said that Pakistan has overcome socio-economic and security related challenges and laid down the foundation of sustained economic growth in the Country. “The government’s prudent policies have restored macroeconomic stability and improved security situation has created favourable environment for economic growth”, he said. The Minister said that according to World Data Atlas, Pakistan joined the club of trillion dollar economies in 2017. Similarly, Price Water House Coopers Report 2017 has projected Pakistan to become the world’s 20th largest economy by 2030. Pakistan has also improved in the Ease of Doing Business indicators and the country has been recognized as one of the top ten performers globally in business regulation. The Minister informed that the GDP growth increased to 5.2 percent in 2017, the highest in 10 years. Agriculture accounts for 19 percent, Industry 21 percent and Services sector has reached 60 percent of GDP in 2017.Pakistan’s Investment Policy, one of the most liberal in the region, provides conducive environment for attracting FDI. The Minister invited members and officials of Chamber to invest in Pakistan where there is no restriction on repatriation of profits and dividends. He informed that no foreign firm has made losses in Pakistan. Besides the China-Pakistan Economic Corridor, investors from USA, UK, France, Germany, Japan, Switzerland, South Korea and the oil rich Gulf States are investing in Pakistan, he added. Mr. Rocco while briefing the Minister said that Ontario Chamber of Commerce represent 60,000 large and small businesses in Ontario. He appreciated the vibrant Pakistan entrepreneurs who are contributing to Canadian economy. He expressed the desire to forge enhanced trade relations with Pakistan. The members of Ontario Chamber, doing business in Pakistan, informed about their experience in Pakistan and invited their colleagues to first visit Pakistan and see the opportunities that are available for profit making. The chamber agreed to boost ties with Chambers of Commerce and Industry in Pakistan through exchange of visits.
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