ISLAMABAD, Jan 25: Three agreements were signed between Pakistan and Canada in the IT sector here on Thursday.

The agreements were signed by the representatives of the signing companies in the presence of the Canadian High Commissioner in Pakistan and Premier Dalton McGuinty of Ontario, Canada, according to a statement issued by the Board of Investment.

The signatories of these agreements are TenXc Wireless, Canada with Coherent Designs, Pakistan, Research in Motion, Canada, with Innovs Limited, Pakistan; Pathways Group, Canada with Si3, Pakistan.

Oober Inc. of Richmond Hill, Ontario, also announced that it was opening its software development centre in Islamabad.

Earlier, speaking at a breakfast meeting arranged by the Board of Investment in honour of the visiting delegation from Ontario, Canada in a local hotel in Islamabad, Ms Sandra Pupoatello, Minister of Economic Development and Trade Minister Responsible for Women’s Issues, said that Pakistan had undergone a remarkable economic transformation which had put the country on the radar of international investment.

"Pakistan is not what we read about it, Pakistan is what we have seen here during our visit. It is the future investment destination and a time will come in near future when everybody will say, "the world is in Pakistan, where are we," she added.

Appreciating the investor-friendly policies of the government, she said this was the first delegation from Ontario, which has visited Pakistan and we have seen immense opportunities in almost every sector of economy.

Emphasising upon the investment opportunities in IT, infrastructure, power, health, agriculture and livestock, oil and gas and housing and construction, she asked the members of her delegation to take full benefit of these for mutual benefits.

She also stressed the need for more interaction and cooperation between the two countries.

Mr Omar Ayub, minister of state for finance, in his address said that as a result of macro-economic reforms, Pakistan’s economy was now booming at fast growth rate.

The rising Foreign Direct Investment figures are a proof of increasing investments in all sectors of economy in Pakistan.

This all, he said, has been possible because of conducive investment climate created through liberal policies of the government.

Highlighting the vast potential that exists in Pakistan in all sectors, he called upon the Canadian investors to invest in any sectors they like as all sectors were available for investment where no government permission was required.

Earlier, BOI secretary, Mr Talat Miyan, said the investment policies of Pakistan were the most liberal in the whole region and all sectors of economy were open for 100 per cent foreign equity.

The secretary briefed them about the investment incentives and opportunities available in Pakistan.

He assured all support from Government of Pakistan and BOI to Canadian investors and told them that this was the right time to invest in Pakistan.