Pakistan and Canada have concluded the third round of negotiations on a proposed Bilateral Investment Treaty (BIT) in Islamabad, as both countries seek to strengthen economic ties and encourage cross-border investment.
Federal Minister for the Board of Investment Qaiser Ahmed Sheikh and Canadian High Commissioner to Pakistan Tariq Ali Khan attended the closing ceremony.
Both officials praised the efforts of their negotiating teams following three days of discussions on the proposed agreement.
The Canadian High Commissioner, Tariq Ali Khan, said continued cooperation was important to developing a balanced treaty that would facilitate investment, build business confidence and support mutually beneficial economic relations.
The Federal Minister, Sheikh, commended the negotiating teams for their commitment and professionalism. He said the proposed treaty could provide investors with a more predictable and transparent framework, helping to encourage investment between the two countries.
Pakistan was committed to improving its investment climate and expanding opportunities for Canadian investors, the minister said.
He identified renewable energy, mining, agriculture and information technology as key sectors for potential cooperation.
Representatives of both negotiating teams signed the minutes of the talks at the closing ceremony, formally recording the proceedings of the third round.
The successful conclusion of the third round reflects the continued commitment of both countries to advancing negotiations on the Bilateral Investment Treaty and strengthening the foundation for long-term investment partnerships.
The proposed treaty is expected to contribute to greater investor confidence, enhanced economic engagement, and expanded opportunities for businesses in both countries.