FAISALABAD, Oct 15 (APP): Political, Economic and Commercial Counselor of Canadian High Commission Daniel Arsenault said that Pakistan is facing commercialization challenges of its indigenous research while Canada would provide climate smart technologies in addition to collaborating with Faisalabad Chamber of Commerce & Industry (FCCI) to promote Faisalabad into a vibrant Textile Circular City.
Addressing the business community at FCCI Complex, he said that untapped potential of bilateral trade volume must be exploited for the benefit of two countries.
“Our objectives should be to identify ways to increase bilateral trade”, he said and added that Canadian foreign minister Anita Anand had discussed a wide range of issues with her Pakistani counterparts and she felt re-energized to further grow our economic relations.
About foreign investment promotion and protection agreement, he said that Canadian negotiators are scheduled to visit Pakistan next week for the third round of negotiations.
“We look forward to a successful round of discussion”, he said and hoped that it would conclude the FIPA by 2027.
About leveraging the Pakistani Diaspora in Canada, he said that they are regular travelers and could contribute to strengthen our relationship because they understand both countries and their culture.
He stressed upon the FCCI to consider more systematically with the Pakistani High Commissioner in Canada to enhance Pakistani exports.
He agreed that there are significant opportunities in two-way agricultural partnership. ‘’Faisalabad is one of the regions of Pakistan where we could learn a great deal from the dairy sector’’, he said and highlighted the importance of edible oil processing as well as processing of lentils and pulses.
He said that Pakistan imports agricultural commodities, processes them, add value and themselves resulting products in domestic and international markets.
“I believe this is a very positive example of economic cooperation in demonstrating how our two countries are connecting through trade and value addition”, he added.
Earlier, President FCCI Arif Ehsan Malik in his address of welcome introduced Faisalabad and FCCI. He said that FCCI aspires to work closely with your team to build stronger trade and investment links between Faisalabad and Canada.
He mentioned the need to expand bilateral trade with measurable goals, connect Faisalabad directly with Canadian buyers, improve textile and apparel markets access, strengthen compliance and responsible sourcing, develop two-way agriculture and food partnership, encourage Canadian investment in Faisalabad, support investment confidence, build a circular Faisalabad partnership with technical cooperation from Canada, connect skills, research and industry, mobilize the Pakistani-Canadian business community, facilitate genuine business travelers and a concrete follow up mechanism.
Arif Ehsan Malik particularly stressed the need to build a circular economy in Pakistan and requested that a team from Canada should visit a textile waste recycling facility and help connect us with Canadian technology providers and potential financers for a defined pilot project in textile recycling or industrial waste water reuse.
He said that a quarterly progress review should be made mandatory to make this meeting productive and result oriented.
A question-answer session was held which was participated by the Senior Vice Chairman APBUMA, Waheed Khaliq Ramay, Sheikh Muhammad Fazil, Junaid Baig, Mughess Khokhar, Hamza Yasin, Hunain Hamid and Dr Muzammil from NTU.
Later, FCCI Vice President Muhammad Yasin offered a vote of thanks while Arif Ehsan Malik presented FCCI shield to Daniel Arsenault.
