Mr. Rocco Rossi, the President of Ontario Chamber of Commerce that represents more than 60,000 big and small businesses, met with Pakistan’s Commerce Minister Pervaiz Malik and discussed areas to boost business ties and enhance interaction between business entities of the two countries.
The Pakistani minister is visiting Canada to highlight business opportunities in Pakistan where business climate has improved in the wake of improving security situation that has held the economy hostage for many years.
After a string military operations in the past two to three years, many terrorist groups have fled the country and number of terrorist incidents has significantly reduced. Pakistan says that its economy has suffered more than $100 billion in direct and indirect losses due to its role in fighting global terrorism.
Mr. Malik briefed the Canadian businessmen and representatives of large multinational companies about the improving situation in Pakistan in the backdrop of improving economic indicators and security-related issues, says an official statement.
He referred to the World Data Atlas that tracks global trade statistics, according to which 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.
Pakistan’s GDP growth has also witnessed an upward trend and posted 5.2 percent growth in 2017, the highest in 10 years.
Mr. Rocco 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.