Federal Minister for Commerce Khurram Dastgir Khan said that Pakistan had refused to accept US model on Bilateral Investment Treaty.
The Board of Investment is working on Pakistan’s own template of a bilateral investment treaty, which will replace the existing treaties with different countries. And all the future ones will be negotiated on the new template.
Pakistan has rejected the United States’ proposed draft of a Bilateral Investment Treaty (BIT) between the two countries, saying the acceptance of the US template would carry ‘dangerous obligations’ for the country.
US Commerce Secretary Penny Pritzker finally admitted publicly that the Obama administration no longer has the ability to get legislative approval for any trade agreements with Pakistan, and hence is focusing on getting more US businesses to invest in Pakistan.
Pakistan’s Board of Investment is working on Pakistan’s own template of a bilateral investment treaty, which will replace previous treaties and serve as basis for new ones.
Pakistan and Turkey on Tuesday agreed to finalise a Free Trade Agreement (FTA) after their leaders announced that the two countries are embarking on fresh trade liberalisation initiatives.
Pakistan’s National Assembly was informed that the government is in process to ink Free Trade Agreement–II with China and also efforts were in process to sign Free Trade Agreements with ASEAN countries.
Pakistan Finance minister says the government will review its existing bilateral investment treaties and develop a template for future ones.
If any further proof were required that too much emotion in our relationship with Beijing is harmful to our interests, the disclosures from the ongoing review of Pakistan’s Free Trade Agreement with China ought to be sufficient.
Pakistan has asked China, under the Pak-China FTA, for compensation for losses it is incurring due to massive import of Chinese products.
The Nawaz Sharif government is in an unnecessary haste to settle and pay millions, possibly billions, of dollars as compensation for the Reko Diq gold and copper mines to a discredited and ousted Canadian-Chilean mining consortium, a decision if made may resemble the infamous circular debt payment of Rs500 billion in the early days of the PML-N government.
Pakistan is working on a proposal for early initiation of negotiations with Nigeria on Free Trade Agreement (FTA) to boost bilateral trade.
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.
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, 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.
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 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.
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.
Commerce Minister Khurram Dastgir Khan on Wednesday said that negotiations on signing of a free trade agreement with Japan were progressing.
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.