ISDS Case Map
Pakistan
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.
Diplomacy in South Asia is given over to give-no-quarter bureaucrats, who cleave to a nationalism that continues to trump economics.
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.
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.
Prime Minister Nawaz Sharif said Monday that Pakistan sought a free trade agreement with South Korea, DawnNews reported.
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.
