PR No. 37 CANADIAN COMPANIES SHOULD BENEFIT FROM THE INVESTMENT OPPORTUNITY THAT LIES IN PAKISTAN DUE TO ECONOMIC BOOM AND DEMOGRAPHIC DIVIDEND; TARIQ AZIM KHAN Islamabad: March 6, 2017.
“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”, said Tariq Azim Khan, Pakistan’s High Commissioner to Canada in a meeting with Mr. Chuck Davidson, President of Manitoba Chamber of Commerce at Winnipeg, says a press release received here today from Ottawa.
While briefing the President of the Chamber on economics achievements the country has made in the last few years, he said that that the GDP growth before 2013 stood at 3%, and now the country is expected to achieve 5.5% GDP growth rate this year. He informed that we are hoping that the economy would grow over 8% between 2018 and 2025 while marinating a-single-digit inflation. He informed that the Pakistan Stock Exchange (PSX) is best performing stock exchange in Asia and its index has risen from 18000 to 50,000 in a short span of only three years. He added that the Chinese investment in CPEC and the booming middle class in Pakistan have given confidence to the foreign investors. He informed that the ongoing infrastructure and energy projects under CPEC will usher in a new era of prosperity and development in the region
The High Commissioner further informed Mr. Chuck Davidson that the trade between Pakistan and Manitoba province has risen almost 100 percent during the last two years but still there exists huge potential for enhancing trade between the two countries. He said that textile products including bed linen, sports goods, surgical instruments, basmati rice, leather products and mangoes from Pakistan are of best quality in the world. He offered the Chamber to host a delegation of investors for visit to Pakistan to explore the investment opportunities that lie in the country and to meet with their Pakistani counterparts for developing synergies.
Mr. Chuck Davidson informed the High Commissioner that the cultural diversity of the province due to immigration boom during the last few years brought positive developments in the economy of the Province. He said that the Province has a diverse economy led by the agriculture sector. He informed that Manitoba’s main exports to Pakistan remained agriculture products including lentils, seeds, oilseeds and spices.
He agreed that there is a huge potential for cooperation between Manitoba and Pakistan. He said the province is manufacturer of agriculture related machinery and possibility can be explored for investment in Pakistan. He said that over 70 smaller chambers in the province are linked to main Manitoba Chamber of Commerce and he would let all the chambers know about the opportunities existing in Pakistan. Both sides agreed to work together for enhancing trade and for exchange of business delegations for exploring trade opportunities. Mr. Anis Khan, President Pakistan Business Association of Manitoba was also present in the meeting.