ISDS Case Map
Pakistan
Trade and industry in favour of free trade has pleaded with the government to ensure well-defined rules of engagement with Indian government and advised the bureaucracy to do its homework and examine trade factsheet before making any commitment one way or another.
Pakistan's federal government will develop a model text of Bilateral Investment Treaties (BITs) with the assistance of the Ministry of Law and Justice Division to ensure protection to investment on reciprocity basis.
Earlier last month, a three-member bench of the Supreme Court headed by Chief Justice Iftikhar Chaudhry declared null and void the Reko Diq gold and copper mine agreement, the Chagai Hills Exploration Joint Venture Agreement (CHEJVA), with Tethyan Copper Company (TCC).
The Supreme Court recently declared void and illegal a mining deal for the Reko Diq copper project signed 20 years ago between the Balochistan government and international mining companies.
The South Asia Free Trade Agreement (Safta) appears to be a ‘disaster’ for Pakistan’s agricultural sector and is backed only by the industrial lobby.
It is wonderful that the stance of the government of Balochistan has been upheld by the Supreme Court (SC) of Pakistan. Decision given on 7th January, 2013 by the SC has declared the agreement on Reko Diq signed on July 23, 1993 as void and in conflict with the laws of the country. Tethyan Copper Company Pvt Limited (TCC) also lost its case in the International Centre for Settlement of Investment Disputes (ICSID) on December 13, 2012.
The Most Favoured Nation status to Pakistan could not prove instrumental in increasing agriculture exports to India, observed a report sponsored by the United States Agency for International Development (USAID).
There are several safeguarding measures under WTO regime to save industry even after normalisation of trade with India, as delay in this regard will jeopardise the process of liberalisation of trade between the two neighbours.
Thailand has expressed its intention to sign a Free Trade Agreement with Pakistan to further promote trade and economic relations between the two countries.
Several European countries have declined Pakistan’s offer for signing a free trade agreement (FTA) or preferential trade agreement (PTA) with them as Pakistan will not agree to their demand of opening the auto sector and government procurement under the said agreements.
