Pakistan, Canada to resume FIPA talks

Express Tribune reported, citing a statement issued on Tuesday, that Pakistan and Canada will resume talks on a Foreign Investment Promotion and Protection Agreement (FIPA) in the first week of October. Both governments want to settle pending points and complete the pact.

The next round was agreed at a meeting in the Ministry of Commerce between Federal Minister Jam Kamal Khan and Canadian High Commissioner Tarik Ali Khan, with senior officials including Commerce Secretary Jawad Paul in attendance. Kamal Khan asked officials to carry out preliminary consultations before the next session, stating that the government is committed to addressing genuine investor concerns.

The Canadian envoy called FIPA a foundational step for raising Canadian investment, saying that legal safeguards, arbitration and mechanisms for settling disputes would strengthen investor confidence. He added that the accord would also send a positive message to more than 300,000 Canadians of Pakistani origin. Discussions also covered agriculture, mining and clean energy, along with aviation and value-added industries, and a proposed hybrid renewable-energy project in Jhimpir.