KARACHI, Feb 19: Canadian entrepreneurs are seeking joint ventures in the information technology, food industry, auto parts, telecom, health care and education.

This was stated by leader of the 17-member Canadian delegation, Anwar Andy Merchant and Member, Canadian Parliament, Jim Karygiannis during a meeting with the businessmen at the Federation House on Tuesday.

They said it is time to expand the trade volume between the two countries by diversifying their interest to these sectors instead of relying on textile and leather products.

A good potential exists for setting up a display centre in Canada so that Canadians could know about Pakistani products. They also called for establishing warehouse in Canada to access the North American markets.

They offered Canadian expertise in preservation of fruits like apples and mangoes.

They stressed the need for giving top priority to bring economic stability in Pakistan, which could ultimately lead to the political stability of the country.

Jim said that Canada is a multi-cultural society where people from around the globe, mostly Asians, are residing, and majority of them are Pakistanis.

Almost 57 per cent of the population of Toronto is from other countries. He said North American countries are carefully watching the post-September 11 developments in Pakistan.

Anwar expressed the hope that the trade between the two countries, which currently stands at $300 million, will touch to one billion dollars in the next five years provided entrepreneurs set up joint ventures in new areas.

President, FPCCI, Iftikhar Ali Malik said Canada has invested $2.6 million in July-December 2001, and the investment, he expressed the hope, would increase.

He said that Canadian businessmen can take advantage of Pakistan’s strategic position as gateway to Afghanistan and CIS markets.

Vice President, FPCCI, Haroon Rasheed said the multi-cultural and multi-lingual society in Canada presents a unique opportunity for the local businessmen to increase exports as there is no language or cultural barrier.

The Canadian delegation also met the chairman Export Promotion Bureau, Tariq Ikram.

Jim said that the delegation is here to engage local counterparts to start a conversation and begin business. Tariq Ikram said that the trade volume could be increased with sound planning and dedication.