ISLAMABAD: Pakistan and Canada have agreed to facilitate the export of Canadian canola to the South Asian country, they said in a joint statement late Monday, amid Ottawa’s search for new markets for the commodity.
The statement came days after Pakistani Foreign Minister Ishaq Dar held a “productive” telephonic conversation with his Canadian counterpart Anita Anand, emphasizing the importance of deepening cooperation in areas of mutual interest, according to the Pakistani foreign ministry.
Canada has been looking to open new markets for canola after China announced preliminary anti-dumping duties on Canadian canola imports in August, a year after Canada said it would levy a 100 percent tariff on the import of Chinese electric vehicles.
The agreement between Pakistan and Canada to allow Canadian canola imports comes after the two sides held the first round of negotiations toward a Foreign Investment Promotion and Protection Agreement (FIPA) in Sept., which reflected their commitment to fostering trade.
“Pakistan and Canada agreed to facilitate the export of Canadian canola to Pakistan, recognizing the significant potential of Pakistan’s expanding market for this Canadian commodity,” the Pakistani foreign office said in a joint statement.
