Canada is an import-oriented country and the business community of Pakistan have a good opportunity to tap this potential market for trade and exports. The Pakistani private sector can set up a base in Canada and capture the North American market. This was said by Faisal Kakar, Deputy Head of Mission-designate to Canada while exchanging views with the business community during his visit to Islamabad Chamber of Commerce and Industry.

Faisal Kakar said that he can facilitate online B2B meetings between Pakistani and Canadian entrepreneurs to explore areas of mutual cooperation. He said that Pakistan can export many products to Canada including rice, textiles, IT & software and others. He said that 6-7 Lac strong Pakistani community is living in Canada and some of them have reached the Canadian parliament, therefore, they can play an effective role in improving trade and economic ties between Pakistan and Canada. He assured that he would try to share information with ICCI about business opportunities for Pakistan in Canada so that the private sector can make efforts to take advantage of them.

Speaking at the occasion, Ahsan Zafar Bakhtawari, President, Islamabad Chamber of Commerce & Industry said that the bilateral trade between Pakistan and Canada in 2020 was just around US$ 1.11 billion, which is not according to the actual potential of both countries. He said that with better efforts, bilateral trade can be increased to 3-5 billion US dollars. He stressed that both countries should focus on developing strong business linkages between their private sectors to explore new areas of cooperation. He said that the Pakistani High Commission in Canada should explore the products that are in good demand in Canada and share such information with chambers of commerce & industry so that our private sector can capture better market share in Canada. He said that many sectors of Pakistan’s economy offer great opportunities for JVs and investment and stressed that the Pakistani diaspora in Canada should be motivated to invest in Pakistan.

Faad Waheed, Senior Vice President ICCI said that Pakistan and Canada are agro-based economies and have good potential to enhance cooperation in this sector.