Islamabad : Pakistan and Canada have agreed to deepen their economic partnership by moving forward with a new Foreign Investment Promotion and Protection Agreement (FIPPA) aimed at boosting bilateral trade and investment.
The understanding was reached during delegation-level talks at the Ministry of Foreign Affairs in Islamabad. Pakistan’s delegation was led by Deputy Prime Minister and Foreign Minister Ishaq Dar, while Canadian Foreign Minister Anita Anand headed the Canadian side.
Speaking at a joint press briefing after the meeting, Anita Anand said both governments are committed to finalising a modern investment agreement at the earliest. She said the proposed framework would provide a transparent and predictable environment for investors, encouraging businesses in both countries to expand with greater confidence.
Deputy Prime Minister Ishaq Dar said Pakistan is keen to attract Canadian investment in key sectors, including education, energy, mining, critical minerals, agriculture, infrastructure, and information technology. He invited Canadian businesses to explore the country’s growing investment opportunities.
Dar said the two sides also discussed enhancing cooperation in education, labour mobility, consular affairs, science and technology, climate action, and people-to-people exchanges.
He noted that Pakistan and Canada share a longstanding relationship based on historical ties, strong community links, and the vibrant Pakistani diaspora living in Canada.
The deputy prime minister said both countries reaffirmed their commitment to maintaining regular engagement and agreed to strengthen institutional cooperation, increase bilateral consultations, and improve coordination among relevant ministries to build on the momentum created by the Canadian foreign minister’s visit.
He added that expanding trade and investment remains a central pillar of Pakistan-Canada relations, with both sides aiming to promote stronger business partnerships and greater commercial interaction.
Anita Anand said Canada sees considerable potential to expand 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 increasing presence of Pakistani exports, including rice, textiles, and sporting goods, in Canadian markets.
She also highlighted opportunities for cooperation in sectors that support long-term economic growth.
On clean energy, Anand announced that Canadian company JCM Power, in partnership with Karachi Electric, will soon begin work on the 240-megawatt Dhabeji hybrid wind and solar power project.
She identified mining and critical minerals as important areas for future collaboration, citing Barrick Gold’s investment in the Reko Diq mining project as an example of growing economic cooperation.
Calling Pakistan an important partner in South Asia, Anand also announced more than $2.2 million in funding for three new security initiatives to be implemented with Interpol, the United Nations, and other international partners.
She said the programmes will strengthen border management, support counterterrorism efforts, combat financial crimes, and improve the training of law enforcement agencies.
The Canadian foreign minister further announced $45 million for three new development assistance programmes. The funding will help Pakistani communities adapt to climate change, improve resilience, expand access to education—particularly for girls—and strengthen reproductive health and family planning services.
She added that the assistance will also support communities still recovering from the devastating floods that affected Pakistan in recent years.
Anand described Pakistan as an important part of Canada’s trade diversification strategy, saying both countries have significant potential to expand cooperation for the mutual benefit of their people.
She also appreciated Pakistan’s efforts to encourage dialogue and support peaceful initiatives aimed at easing ongoing tensions in the Middle East.
