In a significant stride towards fostering international business relations, the Pakistan Association of Auto Parts & Accessories Manufacturers (PAAPAM) and the Canada-Pakistan Business Council (CPBC) joined forces through a memorandum of understanding (MoU). The signing ceremony, held at PAAPAM’s office, marked a pivotal moment for Pakistan’s auto part industry seeking globalisation and partnerships.
The MoU aims to fortify business and investment connections between Pakistan and Canada. The event witnessed the signing by Samir Dossal, President of CPBC, and Munir Bana, Chairman of PAAPAM. Athar Khan, Trade Commissioner at Canadian Trade Service, and Ghulam Ali Shah Pasha, a board member of Pakistan Trade Development Authority (TDAP), were also present, along with the PAAPAM managing committee.
Highlighting the potential of bilateral cooperation, especially in engineering goods and services, Dossal emphasised the opportunities for trade, joint ventures, and acquisitions. Bana lauded CPBC’s proactive approach and anticipated that the MoU would create new avenues for bilateral trade and collaboration. He noted PAAPAM’s commitment to international quality standards within the automotive sector, asserting its ability to thrive in the global market.
The ceremony also marked the establishment of a working committee to devise strategies such as joint ventures, strategic alliances, and technology transfers.
Published in The Express Tribune, August 30th, 2023.
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