Minister for Finance and Revenue, Senator Muhammad Aurangzeb, has emphasized the importance of diversifying trade and expanding market access between Pakistan and Canada, including greater cooperation in agriculture and agricultural commodities.

He was talking to Canadian High Commissioner to Pakistan Tarik Ali Khan, who called on him in Islamabad today.

During the meeting, they discussed bilateral economic relations, trade and investment, and avenues for strengthening economic cooperation between Pakistan and Canada.

The Finance Minister briefed the High Commissioner on Pakistan's recent economic progress and the Government's continued focus on maintaining macroeconomic stability, strengthening external buffers and advancing structural reforms. He noted that the recent improvement in Pakistan's sovereign credit profile reflected progress made in economic stabilization and reform.

The Finance Minister also briefed the High Commissioner on the Government's recent measures to provide relief to citizens in the wake of the prevailing situation. He highlighted Prime Minister Shehbaz Sharif's recent three-month fuel relief programme, with an allocation of around 75 billion rupees, aimed at providing targeted relief to eligible consumers.

The discussion covered measures to further strengthen investor confidence and facilitate greater Canadian investment in Pakistan. The High Commissioner highlighted the importance of further strengthening the investment-related arrangements between the two countries. The two sides emphasized continued engagement to support a more predictable and facilitative environment for investors.

The High Commissioner highlighted the considerable scope for expanding the presence of Canadian companies in Pakistan, particularly in view of the relatively limited existing footprint. Mining, agriculture, renewable energy and other sectors were identified as areas offering potential for investment and joint ventures.

The two sides also discussed matters relating to the export processing zone regime and the operations of a Canadian-linked recycled clothing business. The Finance Minister noted the employment and environmental benefits associated with such operations and assured that the matter would be taken up with the relevant authorities.

The Finance Minister also highlighted the Government's privatization agenda, including opportunities in the aviation sector, and reiterated Pakistan's interest in attracting credible, long-term international investors and expanding commercial partnerships with Canadian businesses.

The Canadian High Commissioner appreciated the Government's efforts to strengthen economic stability and expressed Canada's continued interest in expanding trade, investment and business engagement with Pakistan. He underscored the importance of sustained dialogue and greater collaboration between the business communities of the two countries.