Pakistan and Canada’s bilateral trade has surpassed the $1 billion annual mark, a milestone highlighted during a ceremonial market opening at the Pakistan Stock Exchange (PSX), officials said.

Samir Dossal, president of the Canada Pakistan Business Council, rang the opening bell at the exchange, underscoring increasing engagement between Pakistan’s capital markets and the Canadian business community. The event comes as Pakistan’s equity market posts strong gains following recent macroeconomic stabilization.

PSX Chairman Ruhail Muhammad and CEO Farrukh H. Sabzwari attended the ceremony, along with representatives from financial institutions and the corporate sector.

Dossal said the strong performance of Pakistan’s stock market sends a positive signal to foreign investors, including those from Canada, reflecting progress in overcoming economic challenges. He highlighted Pakistan’s population of over 240 million as a growing market for Canadian goods and services, while noting the Pakistani-origin Canadian diaspora’s role in facilitating investment, skills transfer, and business ties.

Trade between the two countries has tripled over the past decade, rising from $300 million in 2012 to more than $1 billion annually, according to the Canada Pakistan Business Council. Growth has been driven by agrifood trade, education partnerships, and the expansion of Canadian consumer brands in Pakistan.

In agrifood, regulatory barriers that had constrained trade for three years were resolved, enabling the import of about 500,000 tons of Canadian canola through Karachi port, facilitated by coordination between authorities and the Pakistan High Commission in Canada.

In education, the council supported a partnership between NED University in Karachi and Toronto Metropolitan University, enhancing collaboration in research and innovation.

Several Canadian brands have also expanded in Pakistan. Tim Hortons opened flagship outlets in Karachi and Lahore, Mary Brown’s Chicken entered the market, and Second Cup operates over 50 outlets nationwide.

Operating for more than four decades, the Canada Pakistan Business Council facilitates trade and investment flows and engages with the Canadian Alliance for Trade, aligned with Canada’s Indo-Pacific Strategy.