Australia is actively engaged with Pakistan in many sectors encompassing fight against terror, defence, economic development, good governance, humanitarian support and education etc. and wants to further develop multi-dimensional relations with Pakistan for strengthening its economy.

This was said by H.E. Mr. Timothy Spencer George, High Commissioner of Australia while addressing the business community at Islamabad Chamber of Commerce & Industry. He said Australia is providing 16-million dollars annual aid to Pakistan and has so far provided 28 million dollars.

He said in the past a Pak-Australia Business Forum was established which remained dormant and it should be re-established to accelerate bilateral business relations between the two countries.

He said Pak-Australia Joint Trade Committee will hold its next in February 2010 in Pakistan to discuss and explore possibilities of enhancing trade and investment.

He said Australia has provided more than 500 scholarships to Pakistani students and about 7000 Pakistani students are studying in Australia while his country plans to provide 100 scholarships to Pakistan specifically in agriculture sector.

Mr. Timothy said Australia is also providing military and police training to Pakistani forces and was the founding member of Friends of Democratic Pakistan group, which shows its interest to help Pakistan. He said Australia is providing valuable technical and other support to Pakistan in agri-business, dairy and livestock and while it wants to enhance its engagement with Pakistan in energy, construction, mineral, oil & gas, IT, telecommunication and many other sectors of mutual interest.

Speaking about Australia’s economic strength, he said Australia is the 14th largest economy in the world and 4th largest economy in Asia with lowest debt, , AAA sovereign rating, resilient banking system and 2nd lowest unemployment rate in the world. Therefore, Pakistan will benefit a lot by promoting relations with Australia. He said Australian High Commission is working on providing multiple business visas to genuine businessmen.

In his welcome address, Zahid Maqbool, President, Islamabad Chamber of Commerce & Industry thanked Australia for doubling its development assistance to Pakistan up to $ 120 million over the next two years. He said bilateral trade, which is hovering around 650-million dollars did not reflect true potential of both countries and people-to-people contact, granting more study visas to Pakistani students, holding of single country exhibitions, establishing joint business councils at chambers level and frequent exchange of business delegations should be encouraged to tap full potential of trade and investment in both countries.

He said although some Australian companies are present in Pakistan, but stressed that more of its companies should come to Pakistan to invest in different sectors of its economy as Pakistan is a safe place for investment.

He said Australia should cooperate with Pakistan for imparting technical & vocational training which will help in providing skilled manpower to our industry.

ICCI Vice President Ahsan Zafar Bakhtawari also spoke on the occasion and thanked the visit guest for improving trade and economic relations between the two countries.