Pakistan, Canada agree to deepen trade and investment ties

ISLAMABAD: Pakistan and Canada on Monday reaffirmed their commitment to strengthening bilateral ties, with a focus on expanding trade, investment, security cooperation and development partnerships during talks between Deputy Prime Minister and Foreign Minister Ishaq Dar and his Canadian counterpart Anita Anand.

Canadian Foreign Minister Anita Anand is on her first official visit to Pakistan since assuming office at the invitation of Deputy Prime Minister Ishaq Dar.

Addressing a joint press stakeout after delegation-level talks at the Foreign Office, Anand described Pakistan as “an important partner for Canada in South Asia and beyond” and announced new investments in security cooperation and development assistance.

She said both countries had agreed to work towards finalising a modern Foreign Investment Promotion and Protection Agreement (FIPA).

Ishaq Dar welcomed Canadian investment in priority sectors, including education, energy, mining and critical minerals, agriculture, infrastructure and information technology, and invited Canadian companies to explore emerging opportunities in Pakistan.

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He said Pakistan and Canada enjoy longstanding and multifaceted relations, underpinned by historical ties, a vibrant Pakistani diaspora in Canada and growing economic cooperation.

Highlighting commercial ties, Anand said Canada sees significant opportunities to expand agricultural trade with Pakistan. She noted that Pakistan imported more than 470,000 tonnes of Canadian canola during the last crop year and welcomed increased exports of Pakistani products, including rice, textiles and sporting goods, to Canada.

She said Canadian company JCM Power, in collaboration with K-Electric, is expected to begin development of the 240-megawatt Dhabeji hybrid wind and solar project. She also highlighted the potential for greater collaboration in mining and critical minerals, including through Barrick Gold’s investment in the Reko Diq project.

Anand announced that Canada will invest more than C$2.2 million in three new security initiatives with Pakistan through Interpol, the United Nations and other partner organisations.

She also announced three new development assistance initiatives worth C$45 million, aimed at helping Pakistani communities adapt to climate change, strengthen resilience, expand access to education—particularly for girls—and improve reproductive health and family planning services. The programmes will also support communities recovering from the devastating floods experienced in recent years.

Anand said Pakistan is an important part of Canada’s trade diversification strategy and that both countries have significant opportunities to deepen bilateral cooperation for the mutual benefit of their people.

She also acknowledged Pakistan’s efforts to promote dialogue aimed at achieving a peaceful and sustainable resolution of tensions in the Middle East.