Pakistan will renegotiate all bilateral investment treaties (BITs) on the basis of new BIT template being finalised by the government, a top official of the Board of Investment said.
Turkish construction company Bayindir filed a claim under the 1995 Turkey-Pakistan bilateral investment treaty at the ICSID on October 12.
Pakistan will pursue individual trade deals with Saudi Arabia, the United Arab Emirates and Oman, a Pakistani official said on Sunday, as talks with the Gulf Cooperation Council remain stalled.
Kenya and Pakistan have ended a long-standing tariff war that hurt trade between the two countries, mainly Kenyan tea exports.
Protests have erupted in Pakistan’s port city Gwadar against a severe shortage of water and electricity and threats to livelihoods, part of a growing backlash against China’s multibillion-dollar belt and road projects in the country.
Terminating 23 BITs is an important step for Pakistan, but if relationships with the WTO, the IMF and the World Bank remain, economic efficiency will continue to be prioritised over social justice and the rights of citizens.
The Board of Investment (BoI) is all set to sign treaties with foreign countries in line with the new Bilateral Investment Treaty (BIT) template, which was approved by Prime Minister Imran Khan last week, sources said.
Decision aimed at avoiding international arbitration with foreign firms .
Pakistan and Bahrain agreed to start talks on a free trade agreement for trade liberalisation and increasing the volume between the two countries.
Pakistan and Bahrain will sign a memorandum of understanding for the promotion of trade and investment opportunities during the second session of Pak-Bahrain Joint Ministerial Commission.
Thailand aims to conclude talks on a free trade agreement (FTA) with Pakistan by the end of this year.
Pakistan and Uzbekistan on Wednesday agreed to finalise bilateral Preferential Trade Agreement (PTA) within three months to further boost bilateral trade volume.
Pakistan Prime Minister has approved the new Bilateral Investment Treaty template whereby any dispute will now be remedied through local arbitration.
Preferential trade agreement between Pakistan and Uzbekistan, bilateral cooperation in other areas including transit trade, customs, banking, trade and investment, transport and other MoUs and agreements will be signed.
Pakistan is all set to sign the Transit Trade Agreement (TTA) with Uzbekistan in Tashkent on July 15, paving the way for having access for its products to the 90 billion dollars market of five Central Asian States.
Republic of Korea Suh Sangpyo has expressed his desire to sign a Free Trade Agreement (FTA) with Pakistan, saying that a FTA is essential for the promotion of bilateral trade.
Since Pakistan is already facing problems in attracting any new investment, it may not be in a position to terminate its bilateral treaties en bloc. Therefore, the only option is to review and renegotiate the scope of existing treaties and enter into any new negotiations with utmost care.
Pakistan and Sri Lanka are exploring ways to enhance the bilateral trade under the Free Trade Agreement between the two countries.
Not only are the BITs not necessary for attracting FDI, they have potential costs as well. A case in point is Pakistan, which is a signatory to 52 BITs, but has a rather poor record of attracting FDI.
Delegations from both countries met virtually at the second round of Pakistan-Thailand bilateral political consultations.