BOI: Pakistan to Renegotiate Bilateral Investment Treaties Soon
According to news sources, Secretary Board of Investment (BoI) Fareena Mazhar stated in Islamabad that Pakistan intends to renegotiate bilateral investment treaties (BIT) in accordance with the newly designed government template.
With the aid of the United Nations Conference on Trade and Development, the government is establishing a new framework and changes in this respect (UNCTAD). Secretary Fareena remarked at the World Investment Forum’s International Investment Agreement’ Conference that Pakistan’s bilateral investment treaty (BIT) partners had struck agreements on multiple fronts.
In addition, according to Fareena, Pakistan has currently signed 53 Bilateral Investment Treaties (BITs) with other nations, of which 32 are in force, five have been cancelled, and 16 have been signed but are not yet in force.
It was noted that, in order to safeguard sustainable development and improve outcomes for partners, the government has designed a new BIT template with the aid of internationally renowned experts and UNCTAD.
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