Ontario Chamber Of Commerce Briefed About Economic Opportunities In Pakistan

Minister for Commerce Pervaiz Malik Saturday visited Ontario Chamber of Commerce and briefed its president and body members about economic opportunities in Pakistan

ISLAMABAD, (UrduPoint / Pakistan Point News - 17th Feb, 2018 ) :Minister for Commerce Pervaiz Malik Saturday visited Ontario Chamber of Commerce and briefed its president and body members about economic opportunities in Pakistan.

President Ontario Chamber of Commerce Rocco Rossi and representatives of large multinational companies of Canadian origin attended the meeting, a press release said received here from Ottawa, capital of Canada.

The minister said Pakistan had 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 created favorable environment for economic growth", he said.

Malik said 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, he added. The minister informed the GDP growth had been increased to 5.2 percent in 2017, the highest in 10 years, adding, 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." He invited members and officials of the chamber to invest in Pakistan where there was no restriction on repatriation of profits and dividends, informing that no foreign firm had 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. Rocco while briefing the minister said Ontario Chamber of Commerce represented 60,000 large and small businesses in Ontario.

He appreciated the vibrant Pakistani 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 available there.

The chamber agreed to boost ties with chambers of commerce and industry in Pakistan through exchange of visits.