LAHORE

Punjab Board of Investment and Trade (PBIT) and Canada Pakistan Business Council on Tuesday inked a Memorandum of Understanding (MoU) to collaborate in efforts to promote trade and investments between the two countries.

The MoU signing activity held here during visit of a 10-member delegation led by Patrick Brown (MPP, Leader of Official Opposition in Ontario, Torronto/Leader of Conservtive Party) and Ms. Salma Ataullah Jan (Canadian Senator of Pakistani origin) to Punjab Board of Investment and Trade.

The PBIT team gave a comprehensive presentation on potential projects in Education, Livestock & Dairy, Food, Energy, Infrastructure and Mines & Minerals sectors. The Board Chairman Abdul Basit and CEO Ms. Amena Cheema were also present. Ms. Amena said, "We look forward to enhance trade with Canada and Training & Education is one of the potential areas where Punjab and Ontario can collaborate."

Mr. Patrick said student exchange programme between Pakistani and Canadian universities is the easiest way to establish cultural ties and promote people to people contact.

Pakistan-Canada Business Council President Mr. Dossal said Canada pursues a broad range of interests in the context of bilateral relations with Pakistan including development cooperation, people-to-people links, regional security and defense, governance and human rights, trade and investment. Pakistan and Canada were engaged in bilateral trade worth $700 million (2013).

Senator Salma Attaullah Jan Said, "Pakistan is the most misunderstood country in the world and we really need to change this perception as I myself and my colleague Mr. Patrick feel safer here as compared to India."

The meeting also decided that Canadian companies operating in the neighbor countries would be identified and encouraged to set up their businesses in Pakistan. Canada is currently implementing multiple development projects in Pakistan especially Health, Gender Development and Dairy sector, besides supporting Pakistan in upgrading its Electoral System.

The delegation visit from Canada showed that investment climate in Pakistan was improving and now even the developed countries like Canada were eager to increase bilateral trade with Pakistan, the PBIT Chairman observed.