Canada negotiating agreement to reduce investment barriers

Canada is currently negotiating with Pakistan a bilateral foreign investment protection agreement, which would reduce barriers to mutual investment. The Canadian High Commission stated this at a reception on Friday to celebrate 144th birthday of Canada. The reception was attended by diplomats, foreign dignitaries, Pakistani ministers and other government officials.
Cake was also cut to mark the National Day Celebration. In his address of welcome, Canadian High Commissioner in Pakistan, Ross Hynes, recalled some of the Canadian business ventures in Pakistan. He said that the joint venture of a Canadian Chilean firm, Tethyan Copper Company (TCC), has proposed a copper and gold mining investment at Reko Diq of over $3 billion, which would make it the largest foreign investment in Pakistan''s history.
Balochistan Finance Minister Asim Kurd Gailo was also invited to the reception. Minister for Petroleum and Natural Resources Dr Asim was the chief guest. The High Commissioner said that Canada''s friendship with Pakistan dates back to 1947 when Canada was one of the first countries to recognise Pakistan''s independence. "We are one of Pakistan''s earliest development partners. Over the years, our relationship has developed extensive and intensive human tires impelled in part by the presence in Canada of an estimated 300,000 citizens of Pakistani origin".
Canada Day, which was formerly Dominion Day, is the national day of Canada. Canada Day is a federal statutory holiday celebrating the anniversary of the July 1, 1867, enactment of the British North America Act (today called the Constitution Act, 1867), which united three British colonies into a single country, called Canada, within the British Empire. Originally called Dominion Day, the name was changed in 1982, the year that Canada gained full independence from the United Kingdom. Canada Day observances take place throughout Canada as well as internationally. Minister for Petroleum Dr Asim in his short speech congratulated the High Commissioner of Canada on the national day. He appreciated all-out efforts of the Government of Canada for making Pakistan peaceful and more prosperous through their development projects.