Need for bilateral investment treaty stressed: Canadian HC's team visits PBIT

A seven-member delegation from the Canadian High Commission in Islamabad visited Punjab Board of Investment and Trade (PBIT) on Wednesday led by Political and Commercial Counsellor Allison Stewart to exchange views on the current evolving opportunities in the Punjab's priority economic sectors. The delegation also included Counsellor Mark Scullion at the Canadian Consulate General in Mumbai, India, five trade commissioners in Pakistan, three at the High Commission in Islamabad and two at the Canadian Consulate General in Karachi.
Counsellor Stewart stressed the need for a bilateral investment treaty to ease the process of doing business in one another's countries. She said, "There is obvious potential for Canadian assistance and investment in areas such as clean water provision and oil and gas." PBIT Chief Executive Officer Amena Cheema said, "Canadian investment and expertise could play a critical role in areas such as clean water provision, food processing and energy."
Counsellor Scullion said, "It was easier to do business in Pakistan than in India, where bureaucratic processes are very cumbersome. More Canadian companies will look at investing in Pakistan in the near future because of the improved investment environment." A detailed discussion session was held on opportunities found in the China-Pakistan Economic Corridor in forestry products and services, education, agriculture and agri-food, information and communication technology, power, oil and gas and mining.