Islamabad (TDI): Pakistan and Canada have agreed to pursue closer economic ties by resuming negotiations on a long-pending bilateral investment agreement, aiming to strengthen cooperation across trade, energy, agriculture and other priority sectors.
The understanding was reached during a meeting between Federal Minister for the Board of Investment (BOI) Qaiser Ahmed Sheikh and Canadian High Commissioner to Pakistan Tarik Ali Khan in Islamabad. The meeting was also attended by Minister for Culture Aurangzeb Khichi and senior officials of the Board of Investment.
Welcoming the Canadian delegation, Minister Qaiser Ahmed Sheikh described the current trajectory of Pakistan–Canada bilateral trade as encouraging and positive.
He particularly highlighted Canada’s growing footprint in Pakistan’s canola trade, terming it a breakthrough that reflects the expanding scope of commercial engagement between the two countries.
According to the minister, such developments demonstrate the potential for diversifying trade and moving toward higher-value cooperation.
Both sides reaffirmed their commitment to further strengthen bilateral trade and investment relations and agreed to maintain close coordination to enhance overall economic engagement.
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Emphasis was placed on creating a predictable and investor-friendly framework to encourage greater participation by Canadian companies in Pakistan’s economy.
High Commissioner Tarik Ali Khan highlighted existing Canadian investments in Pakistan, citing JCM Power as a prominent example of a Canadian firm successfully operating in the country’s energy sector.
He stressed the importance of sustained collaboration in energy and other priority areas, noting that Pakistan offers significant opportunities for responsible and long-term investment.
During the briefing, Minister Qaiser Ahmed Sheikh outlined Pakistan’s investment landscape and ongoing reforms aimed at improving the ease of doing business.
He highlighted the role of the Investment and Business Facilitation Center, regulatory simplification initiatives, and incentives available under Special Economic Zones (SEZs), which are designed to attract and facilitate foreign investors.
The two sides also discussed potential investment opportunities in sectors of mutual interest, including agriculture, minerals, manufacturing, digitalization, and green energy.
These areas were identified as key drivers for future growth and cooperation, particularly in the context of sustainable development and technological advancement.
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A major outcome of the meeting was the agreement to resume negotiations on the Pakistan–Canada Investment Agreement at the earliest.
Both sides noted that an updated and robust institutional framework would help protect investments, build investor confidence, and unlock new avenues for bilateral cooperation.
Minister Qaiser Ahmed Sheikh said this was an opportune time to invest in Pakistan, describing the country as a suitable and attractive destination for foreign investors. He reaffirmed the government’s commitment to providing full facilitation and support to international partners.
Minister for Culture Aurangzeb Khichi also underscored the importance of enhancing cultural cooperation between Pakistan and Canada, highlighting opportunities for collaboration in cultural initiatives alongside economic engagement.
Concluding the meeting, the federal minister reiterated that the Board of Investment remains committed to promoting sustainable, long-term investment and strengthening Pakistan’s economic partnerships globally.
