Islamabad (TDI): Pakistan and Canada have reached an agreement to facilitate the trade of Canadian canola. This deal comes as Canada looks to diversify its markets for the commodity after China imposed preliminary anti-dumping duties on Canadian canola imports in August, just one year after Canada imposed a 100% tariff on Chinese electric vehicle imports.
In the joint statement, it was said that Deputy Prime Minister and Foreign Minister Ishaq Dar had a phone conversation with Canadian Foreign Minister Anita Anand on October 30. During the call, both leaders reaffirmed the strong bilateral ties between Pakistan and Canada and emphasized the importance of enhancing cooperation in key areas of mutual interest.
“Pakistan and Canada have agreed to facilitate the export of Canadian canola to Pakistan, recognizing the growing potential of Pakistan’s market for this valuable commodity,” the statement read.
The two ministers also noted the successful completion of the first round of negotiations for a Foreign Investment Promotion and Protection Agreement (FIPA). This agreement is considered a significant step towards improving the investment climate between the two countries. Minister for Investment Qaiser Ahmed Sheikh and Canadian Minister of International Trade Maninder Sidhu are leading the talks, which focus on creating a stable, transparent investment environment for both sides.
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“Both countries expressed interest in expanding bilateral cooperation on energy security and critical minerals, recognizing the growing role of Canadian companies in helping Pakistan meet its ambitious mineral development and clean energy goals,” the statement further mentioned.
Looking ahead, both ministers discussed the upcoming sixth round of bilateral consultations, which will provide a platform to advance shared priorities, strengthen government-to-government and private sector links, and explore new opportunities for strategic collaboration.
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“Pakistan and Canada are committed to working together to promote peace, prosperity, and inclusive growth, both bilaterally and globally,” the statement concluded.
Canadian Foreign Minister Anand also shared the joint statement on social media platform X, reaffirming the agreement’s significance.
