China has pledged to provide trade concessions to Islamabad that it is not getting from the United States and European Union
The Board of Investment (BoI) has been tasked to formulate Special Economic Zone Act (SEZA), update the existing Promotion and Protection of Investment Act 1976 and conclude Bilateral Investment Treaties (BIT) and Free Trade Agreement (FTA) with other countries specially the United States.
Pakistan does not keep in line with the provisions of South Asian Free Trade Agreement (SAFTA) concerning imports from India, said Sharat Sabharwal, High Commissioner of India during his visit to the Karachi Chamber of Commerce and Industry (KCCI) on Wednesday.
Pakistan and China have increased bilateral trade agreements with the help of the Free Trade Agreement (FTA) which was signed between the two countries in 2005.
The European Union told Pakistan on Friday it could gain increased access to EU markets in one to three years but ruled out immediately granting Islamabad new trade concessions.
Pakistan and the United States are scheduled to restart negotiations on Bilateral Investment Treaty (BIT) in the third week of May
Pakistan and Nepal have decided to hold their joint economic commission’s meeting this year in Islamabad. It is stalled for the last five years.
China and Pakistan, which have strongly increased bilateral trade this decade with the help of a series of free-trade agreements (FTAs), have committed to doubling their commerce within the next three to four years.
Talks of signing of FTA between Pakistan and GCC have been making the rounds for several years but both sides have only now reached at some concrete work to move ahead.
Pakistan is to appeal for free trade access to, and eventually a free trade agreement with, Europe during a landmark summit with EU leaders next month
The All-Pakistan Fruit and Vegetable Importers and Exporters Association has urged the government to sign free trade agreements with Ukraine, Indonesia and Europe to give boost to export of kinno, which is in great demand in these countries.
Belgium, being the Capital of Europe and centre of European politics and policy making, should support the efforts for signing free trade agreement between Pakistan and European Union, says the Karachi Chamber of Commerce and Industry
Under the bilateral treaty, the German government would provide insurance guarantees to investments by its companies in Pakistan and cover their political and security risks.
Addressing the Fifty Years of Bilateral Investment Treaties Conference in Germany, Pakistani PM Yousuf Raza Gilani said: “We are looking forward to early commencement of negotiations on a Free Trade Agreement.”
Pakistan will co-host with Germany world’s first-ever International Conference on Investment Treaties in Frankfurt from December 1-3, aimed at examining the policy issues that will shape international investment laws in the years to come.
Pakistan and Germany will sign the enhanced version of “bilateral investment treaty” during the visit of Prime Minister Yousaf Raza Gilani to Germany early next month.
Visiting US lawmakers on Friday announced they would move a bipartisan resolution in the House of Representatives to seek the early signing of a free trade agreement (FTA) with Pakistan.
Negative trade balance is not always negative. It could be looked in a broader context said the Head of Chancery of the Pakistan High Commission in Sri Lanka Balal Akram. Referring to the negative trade balance between the countries which is favourable to Pakistan Akram said that 35 per cent of Sri Lankan imports from Pakistan are raw material for the apparel industry.
The European Union has finally agreed to initiate talks on Free Trade Agreement with Pakistan and the first round of negotiations would be held in February 2010.
Islamabad and the 27-member European Union will start negotiations on a possible free trade agreement, an unfulfilled dream of Pakistan, with a meeting on 20 October.