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Pakistan


Pakistan: Government to move carefully in approving US-proposed BIT
The government has decided to move carefully in respect to approving the new Bilateral Investment Treaty (BIT) template proposed by the United States as it contains clauses with far-reaching negative implications for the economy of Pakistan.
Pakistan sore at Indian auto invasion in Lanka
The Pakistan Automotive Manufacturers Association (PAMA) has urged the Pakistan government to put automobiles and auto parts in the negative list of the Free Trade Agreement (FTA) with Sri Lanka to safeguard Pakistani manufacturers against the entry of cheaper Indian products manufactured in Lanka.
Pakistan likely to expand FTA trade with Sri Lanka
Pakistan, Sri Lanka’s second largest trade partner in the region, has indicated interest in expanding its free trade agreement (FTA) trade with the island, creating growth in bilateral trade, which already exceeds the US $ 460 million mark, according to Sri Lanka’s trade ministry.
Trade experts see nothing concrete in Pak-US action plan
The Joint Action Plan signed last week by Pakistan and the US in Washington under Trade and Investment Framework Agreement (Tifa) is more of a goodwill gesture than anything concrete that can benefit the country, according to experts.
Pakistan still pays 9pc duty on leather export to China under FTA regime
Pakistan is not benefiting from Free Trade Agreement with China, as the leather industry is still paying around 9 per cent import duty on its export goods to China owing to non-implementation of zero-duty under FTA regime.
Implementation of FTA with Indonesia urged
Emphasising the need for enhanced trade relations between Pakistan and Indonesia, the Chairman Senate Syed Nayyer Hussain Bokhari on Thursday observed that the Free Trade Agreement (FTA) between the two needs to be implemented in letter and spirit for mutual growth and prosperity.
Minister hints at FTA with Japan
Commerce Minister Khurram Dastgir Khan on Wednesday said that negotiations on signing of a free trade agreement with Japan were progressing.
FTAs with China, Malaysia damaging poultry industry
Free Trade Agreements signed with Malaysia as well as China, without taking the real stakeholders onboard, are damaging the local poultry industry, as the imports of processed chicken products under FTA with Malaysia are subject to zero percent import duty and from China at 16% import duty.
Afraid of free trade
Diplomacy in South Asia is given over to give-no-quarter bureaucrats, who cleave to a nationalism that continues to trump economics.
Pak moves int’l forum against Turkish power firm
The Ministry of Water and Power has approached the Washington-based International Centre for Settlement of Investment Disputes (ICSID) and challenged the jurisdiction of a tribunal which has been hearing a damage suit worth $334 million sought by a Turkish power firm, Karkey Karadeniz Elektrik Uretim (KKEU), against Pakistan.
Comprehensive FTA with South Korea proposed: Mamnoon
President Mamnoon Hussain on Tuesday urged the need for transforming the traditional close and cordial relationship between Pakistan and Republic of Korea into a substantive trade and economic partnership to the mutual benefit of the peoples of the two countries. The President stated this during his meeting with Chung Hong-won, Prime Minister of the Republic of Korea here at the Presidency.
Pakistan seeks free trade agreement with South Korea
Prime Minister Nawaz Sharif said Monday that Pakistan sought a free trade agreement with South Korea, DawnNews reported.
US, Pakistan review plan to expand trade, investment
The United States and Pakistan have held initial discussions on a joint plan to expand trade and investment flows over the next five years, says a statement issued on Thursday.
Pakistan, Bahrain to sign BIT
Pakistan and Bahrain will sign Bilateral Investment Treaty (BIT) in addition to other pacts during the visit of King of Bahrain Hamad Bin Isa Al-Khalifa, official sources told Business Recorder.
Govt may revisit all preferential, free trade agreements
The government of Pakistan is revisiting all the FTAs and PTAs as there is a growing realisation among policymakers that they had been poorly negotiated and were now causing injury to the domestic industry, official sources said on Tuesday.
Turkish firm’’s claim: government seeks 20 days to file reply
Pakistan has sought a 20-day extension to file its reply to the International Centre for Settlement of Investment Disputes (ICSID) against a damage claim of $2.1 billion filed by Turkish firm M/s Karkey Karadeniz Elektrik Uretim. The sources said Pakistan had to submit its reply to the international body by February 28, 2014 but it was delayed due to a change in legal firm.
Farmers to resist free trade with India
Punjab’s farmers forged an alliance on Thursday to resist any move to allow free trade with India in agricultural products from Wagah-Attari land route, claiming that such a decision would destroy country’s agriculture and throw its growers out of business.
Talks on BIT require new template, US tells Pakistan
The United States has conveyed to the Pakistan Muslim League government that future negotiations on Bilateral Investment Treaty will be held on the basis of a new template as the old template lapsed in 2012.
Karkey files another $2.1b damages claim against Pakistan
Karkey Karadeniz Electricity Production Corporation (Karkey) has filed a memorial to the World Bank’s International Centre for Investment Disputes (ICSID) claiming $2.1 billion damages against government of Pakistan.
Malaysia-Pakistan FTA to be reviewed by month-end, says Mustapa
Malaysia and Pakistan will review the free trade agreement (FTA) between both countries by month-end, says International Trade and Industry Minister Datuk Seri Mustapa Mohamed.