ISLAMABAD: Pakistan and Australia concluded a negotiation round aimed at modernizing the 1998 Pakistan-Australia Bilateral Investment Treaty, Pakistan's Press Information Department (PID) said on Thursday.
Delegations from both countries held what officials described as positive and constructive discussions on the initial articles of a prospective updated treaty.
The Board of Investment also posted on X, saying Federal Minister Qaiser Ahmed Sheikh successfully concluded the Islamabad round of negotiations.
The prospective treaty seeks to establish a "modern, balanced, and forward-looking treaty framework" that promotes investment flows while safeguarding the legitimate interests of both countries, PID said.
Federal Minister for the Board of Investment Qaiser Ahmed Sheikh, who led Pakistan’s side, reaffirmed the government’s commitment to ensuring an investment climate aligned with global best practices.
He highlighted Pakistan's new phase of "investment policy reforms aimed at promoting transparency, boosting investor confidence and expanding long-term economic cooperation with international partners," according to PID's official statement.
"Pakistan’s determination to foster sustainable investment partnerships, increase investor protection, and expand opportunities in key sectors including energy, mining, technology, agriculture, and industrial development," he said.
Treaty to support increased investment flows
Under the government’s strategic direction, Pakistan is committed to diversifying investment avenues and collaborating with global partners to accelerate economic growth, said Sheikh.
The minister commended the contributions of both negotiating teams and expressed confidence that modernizing the treaty will support increased investment flows, deeper commercial cooperation, and a mutually beneficial economic partnership.
The Board of Investment said it remains committed to promoting investment and strengthening bilateral ties while supporting domestic and foreign investors in line with Pakistan’s economic development objectives.
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