Pakistan, Canada agree to deepen bilateral partnership, expand cooperation across multiple sectors

Islamabad (Web Desk): Pakistan and Canada have agreed to strengthen their economic relationship by advancing a new Foreign Investment Promotion and Protection Agreement designed to encourage greater bilateral trade and investment.

The agreement was reached during delegation-level discussions at the Foreign Office in Islamabad. 
Pakistan's delegation was led by Deputy Prime Minister and Foreign Minister Ishaq Dar, while Canadian Foreign Minister Anita Anand headed the visiting delegation.

Addressing a joint press stakeout after the meeting, Canadian FM Anita Anand said that both governments are committed to concluding a modern investment agreement as soon as possible.

She said the proposed framework would provide businesses in both countries with a stable and transparent investment environment, enabling investors to expand their operations with greater confidence.

Speaking on the occasion, DPM/FM Ishaq Dar said that Pakistan is looking forward to attracting Canadian investment in priority sectors, including education, energy, mining, critical minerals, agriculture, infrastructure and information technology. He invited Canadian companies to explore the country's expanding investment opportunities.

DPM Dar said that both sides also held detailed discussions on strengthening collaboration in education, labour mobility, consular affairs, science and technology, climate action and people-to-people exchanges.

He noted that Pakistan and Canada share a long-standing and wide-ranging relationship built on historical ties, close community links and the vibrant Pakistani diaspora residing in Canada.

The deputy prime minister said the two countries reaffirmed their commitment to maintaining regular engagement and agreed to build on the momentum created by the Canadian foreign minister's visit through stronger institutional cooperation, frequent bilateral consultations and closer coordination among relevant ministries and stakeholders.

He added that enhancing economic cooperation remains a key pillar of Pakistan-Canada relations, with both sides focusing on expanding trade and investment through stronger business-to-business partnerships and increased commercial interaction.

Anita Anand said Canada sees significant opportunities to increase agricultural trade with Pakistan. She noted that Pakistan imported more than 470,000 tonnes of Canadian canola during the previous crop year and welcomed the growing presence of Pakistani products, including rice, textiles and sporting goods, in Canadian markets. 

She added that Canada is also interested in expanding cooperation in sectors that can support long-term economic growth.

Highlighting clean energy collaboration, Anand announced that Canadian company JCM Power, together with Karachi Electric, will soon begin work on the 240-megawatt Dhabeji hybrid wind and solar project.

She also identified mining and critical minerals as key sectors for future cooperation, referring to Barrick Gold's investment in the Reko Diq project.

Describing Pakistan as an important Canadian partner in South Asia and beyond, AFM Anand announced more than $2.2 million in funding for three new security initiatives that will be implemented in collaboration with Interpol, the United Nations (UN) and other organisations.

She said the programmes will enhance border management, strengthen counterterrorism efforts, combat financial crimes and improve training for law enforcement agencies.

The Canadian foreign minister also announced three new development assistance programmes worth $45 million.

She said the funding will support Pakistani communities in adapting to climate change, improving resilience, expanding access to education—particularly for girls—and strengthening reproductive health and family planning services.

The Canadian FM added that the initiatives will also assist communities still recovering from the devastating floods that struck Pakistan in recent years.

Anand described Pakistan as an important part of Canada's trade diversification strategy, saying both countries have substantial potential to further strengthen bilateral cooperation for the shared benefit of their people.

She also acknowledged Pakistan's efforts to promote dialogue aimed at achieving a lasting and peaceful solution to the continuing regional tensions in the Middle East.