Pak-Canada FTA vital to minimise trade imbalance

KARACHI (APP) - There is a need of free trade agreement (FTA) between Pakistan and Canada to minimize
the trade imbalance between both the countries.
The issue was discussed in a meeting with Bruce Archibald, Deputy Minister of International Trade and
investment Government of Ontario and Pakistan Trade Delegation headed by Mohibullah Shah Chief Executive
of Trade Development Authority of Pakistan, said statement issued by Federation of Pakistan Chambers of
Commerce and Industry here on Saturday.
While welcoming the Pakistan trade delegation, Bruce Archibald said the visit of delegation and
Canada-Pakistan Trade Expo will go a long way in promotion of bilateral trade and possibility of signing of FTA.
He said that the interaction between the business community of both the countries will lead to FTA which will
definitely create a win win situation to both the countries.
Underlining the need of FTA, Chief Executive of TDAP Mohibullah Shah said FTA will give a level playing filed to
Pakistani exporters and manufactures in Canadian market as presently the customs tariff is the main barrier in
promotion of Pakistans export to Canada. Due to the facility of duty free access to Canada, the other
competitors of Pakistan are capturing the major share of Canadian market.
While expressing the geographical advantages of both the countries, President FPCCI Sultan Ahmed Chawla
said that FTA between both the countries will result in expansion of exports of both the countries.
He said that Pakistan has already signed FTA with China which is the world largest market and Canadian
investors can make use of the FTA between Pakistan and China.
Through FTA between Pakistan and Canada, Canadian investors will have an advantage to penetrate in the
Central Asian countries which are considered unexplored market.
Chawla stated that Pakistan was confronting with many challenges and this was need of the hour that Canada
should facilitate Pakistan by providing duty free access to its market.
He said that Canada-Pakistan Trade Expo at Canada has proved that the Pakistani products have all the
potential to have a major share in the Canadian market.
He further informed the Deputy Minister that the situation in Pakistan is not as worst as is being projected in the
media.
He said that some parts of Pakistan which were disturbed are getting to the normality.
He invited the Canadian investors to make investment in Pakistan which offers good returns particularly in the
field of power generation.
Chairman, Pakistan Canada Business Council of FPCCI, S.M. Muneer informed the him about the large range
of products being displayed in Canada-Pakistan Trade Expo which indicates the seriousness of Pakistani
exporters for Canadian market.
He emphasized the need that both countries should come forward to reduce the barriers in trade.
FTA between both the countries which will lead to promotion of bilateral trade and open investment
opportunities.