Islamabad: Pakistan and Canada have expressed their commitment to expanding trade and investment relations through a new Foreign Investment Promotion and Protection agreement. This development emerged during delegation-level talks between the two countries at the foreign office in Islamabad. Deputy Prime Minister Ishaq Dar represented Pakistan, while the Canadian delegation was led by Foreign Minister Anita Anand.
According to Radio Pakistan, the Canadian Foreign Minister, during a joint press stakeout, stated that this modern investment framework, to be completed at the earliest possible date, will promote businesses in both countries by providing greater predictability and confidence to grow. The Deputy Prime Minister welcomed Canadian investment in priority sectors such as education, energy, mining and critical minerals, agriculture, infrastructure, and Information Technology, inviting Canadian companies to explore emerging opportunities in Pakistan.
The discussions also covered cooperation in education, labor mobility, consular matters, science and technology, climate change, and people-to-people exchanges. Ishaq Dar emphasized the longstanding and multifaceted relations between the two countries, underpinned by historical linkages, people-to-people contacts, and a vibrant Pakistani diaspora in Canada. He noted both sides reaffirmed their commitment to sustained engagement and agreed to build upon the momentum generated by this visit through enhanced institutional cooperation, regular bilateral consultations, and greater interaction between relevant ministries and stakeholders.
The Canadian Foreign Minister highlighted opportunities to expand agricultural trade with Pakistan, noting that Pakistan imported more than 470,000 tons of Canadian Canola during the last crop year. She expressed interest in more Pakistani products in Canada, including rice, textiles, and sporting goods, and emphasized deepening cooperation in sectors contributing to future economic growth.
She also referred to collaboration in renewable energy, mentioning the Canadian company JCM Power's upcoming development of a 240-megawatt Dhabeji hybrid wind and solar project in collaboration with Karachi Electric. Additionally, she noted potential collaboration in mining and critical minerals through Barrick Gold's investment in the Reko Diq project.
Anita Anand announced Canada's investment of more than 2.2 million dollars in three new security initiatives with Pakistan through Interpol and the UN, focusing on border management, terrorism, financial crimes, and training for law enforcement professionals. Furthermore, she unveiled three new development assistance initiatives valued at 45 million dollars to support Pakistani communities in adapting to climate change, expanding access to education, and improving reproductive health and family planning services, especially in flood-affected areas.
Through these initiatives, Pakistan and Canada aim to strengthen their relations for the benefit of their peoples, with Pakistan being a key partner in Canada's trade diversification strategy. The Canadian Foreign Minister also acknowledged Pakistan's efforts in supporting dialogue aimed at a sustainable and peaceful resolution to regional tensions in the Middle East.