Significant economic reforms and improvements in the security situation are creating greater confidence internationally in the promise of increasing business with Pakistan.
This was stated by the Canadian High Commissioner to Pakistan David Collins while speaking at the launch of Social Development in Pakistan Annual Review 2005-06 at a local hotel here on Saturday.
"I mention 'security' as an issue", he said adding Canada believes that to do business either as an importer or exporter requires a reliable security frame work and the rule of both civil and criminal law.
He stated that by the year 2010, projections are that Asia will account for 63 percent of the world's population and over 50 percent of global production and 40 percent of global consumption.
He was of the view that the volume of trade between Asia and North America will continue to grow at a fast pace that we are now witnessing. That is why Canadian companies are keen to strengthen their presence in Asia and Pakistan.
He added that Pakistani companies can and should be also able to play a greater role in Asia's evolution. "Economic strength keeps us all fed and housed, but citizenship of the world demands far more than looking after oneself," he said.
"From our perspective, Pakistan has played a useful and constructive role in issues of direct interest to Canada such as the environment, the law of the sea and peacekeeping", he pointed out and added that as Commonwealth Nations we share a commitment to democracy and the rule of law.
The connection between Pakistan and Canada goes deeper still. Canada is home to a large and energetic community of Pakistani-Canadians who contribute rich threads to the tapestry of out nation. Many have maintained and nurtured strong ties with Pakistan and have helped foster interest in both countries in cultivating out commercial and cultural relations.
The importance of Pakistani-Canadians to the Canadian business community is strength for both the countries and provides depth to the relations. He pointed out that the level of trade between Pakistan and Canada was very small, amounting to only about $200 million in bilateral trade. "In recent years Canadian companies have found here some promising markets for oil and gas equipment, minerals, agricultural commodities and telecommunications equipment as well as helicopters,". he said added that Pakistan now ranks much higher amongst Canada's trading partners with bilateral trade since 2003 has exceeded $550 million.
He assured that Canada would continue to support Pakistan's progressive integration into the international economic community. "I am confident that with continuation of economic reforms in Pakistan we will see the expansion of our economic relations, not only in the field of trade but also in those of investment and joint ventures", he said.
Former finance minister Sartaj Aziz also spoke on this occasion and briefed the participants about overall economic situation in the country.
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