Trade talks between Pakistan and Canada will begin today

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ISLAMABAD: Trade talks between Pakistan and Canada will open in Ottawa on Monday to promote bilateral trade to its true potential.

Commerce Minister Pervaiz Malik has arrived in Ottawa on the invitation of his Canadian counterpart Francois-Phillipe Cham­pagne. He will discuss the whole gambit of trade relations between the two countries with the Canadian minister for international trade.

According to the information made available by the Pakistan High Commission in Ottawa, the current volume of bilateral trade increased by 133 per cent from Canadian $732 million in 2013 to $1.8 billion during the last year.

Both sides recognise that there exists a huge potential for enhancing the bilateral trade.

The two countries continue talks for a bilateral foreign investment protection and promotion agreement. Such a treaty will provide greater predictability and certainty for Canadian investors considering investment opportunities in Pakistan. Canada’s objective in entering into these negotiations is to secure a comprehensive high-quality agreement which will protect investors through the establishment of a framework of legally binding rights and obligations.

Besides meeting Canadian Minister for Agriculture Lawrence MacAulay and Minister for Immigration Ahmed Hussen in Ottawa, Pervaiz Malik is also expected to meet the Canadian investors and businessmen in Mon­treal and the Ontario Chamber of Commerce in Toronto.

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