Pakistan and the United States began negotiating a bilateral investment agreement (BIT) in 2004 and concluded the text in 2012, but the agreement was not signed due to reservations from Pakistani stakeholders. Pakistan has concluded bilateral investment agreements with Australia, Azerbaijan, Mauritius, Bahrain, Bangladesh, Morocco, Belarus, the Netherlands, the Belgian-Luxembourg Economic Union, Oman, the Philippines, Bosnia, Portugal, Bulgaria, Qatar, Cambodia, Romania, China, Singapore, the Czech Republic, South Korea, Denmark, Spain, Egypt, Sri Lanka, France, Sweden, Germany, Switzerland, Indonesia, Syria, Iran, Tajikistan, Italy, Tunisia, Japan, Turkey, Kazakhstan, Turkmenistan, Kuwait, the United Arab Republic, the Kyrgyz Republic, the United Kingdom, Lebanon, Uzbekistan, Laos and Yemen. These investment agreements generally contain dispute settlement provisions. Where a dispute cannot be settled through mutual consultation, investors can generally initiate arbitration proceedings in accordance with the rules of the United Communities. Commission for International Trade Law, the World Bank`s International Centre for Settlement of Investment Disputes or before the Arbitral Tribunal of the International Chamber of Commerce. Pakistan is a member of the Multilateral Investment Management Agency (MIGA), an arm of the World Bank. Pakistan and the United States signed a Trade and Investment Framework Agreement (TIFA) in 2003, which provides a forum for discussing bilateral trade issues. The last intermittency meeting of the TIFA was held in Islamabad in May 2019. Pakistan has free trade agreements with Sri Lanka, China and Malaysia. Pakistan is also a member of the South Asian Regional Cooperation Association (SAARC) and has preferential trade agreements with Iran, Indonesia and Mauritius.The United States and Pakistan have adopted a bilateral tax agreement since 1959. Pakistan has also concluded double taxation treaties with Austria, Canada, Germany, Indonesia, Italy, Lebanon, Mauritius, Poland, Switzerland, Turkmenistan, Kazakhstan, the United Arab Emirates, Belgium, China, France, Greece, Iran, Japan, Libya, Saudi Arabia, Romania, Sweden, Belarus, Hungary, United Arab Emirates, Jordan, Kenya, Kuwait, Malaysia, the Netherlands, Nigeria, Norway, Oman, the Philippines, Qatar, South Africa, Syria, Tunisia, Uzbekistan, the United Kingdom, the United Kingdom, Bangladesh, the United Kingdom, Finland, India, Ireland, South Korea, Malta, Singapore, Sri Lanka, Thailand, Azerbaijan and Turkey. Describes the bilateral and multilateral trade agreements in which this country participates, including with the United States. Contains websites and other resources for U.S.
companies to get more information on how to use these agreements. Under the three successive constitutions implemented in Pakistan since its establishment as an independent state, contractual powers have traditionally been exercised by the Pakistani government. This practice has remained unchanged in the two repealed constitutions of 1956 and 1962, as well as in the current Constitution of 1973. The 1956 Constitution authorized Parliament to legislate to implement a „treaty, agreement or convention between Pakistan and another country or a decision taken in an international forum,“ but the power to enter into contracts remained an executive power of the government. Similarly, the Third List of the 1962 Constitution authorized the central legislature to enact laws on foreign affairs, including relations and transactions of all kinds with other countries, international organizations and agencies, as well as the implementation of its decisions, as well as the elaboration and implementation of treaties, conventions and agreements with other countries. . . .