US Hints That IP Failings Likely To Stall Bilateral Investment Treaty With Pakistan

by Lorys Charalambous, for LawAndTax-News.com, Cyprus

04 October 2004

Speaking last week to the regional media, a senior official with the US Embassy in Islamabad observed that action taken by the government of Pakistan to address the country's failings in terms of the protection of intellectual property can only speed negotiations on the bilateral investment treaty which was unveiled by US Trade Representative Robert Zoellick last Tuesday.

"There are certain problems that are stalling a bilateral investment treaty between the two countries. We want to see the introduction and better enforcement of IPRs and the resolution of investment disputes, particularly in the energy sector," the official announced, according to the Pakistan Daily Times.

He went on to add:

"We would also like Pakistan to enforce laws on optical disks to check piracy. All these initiatives will pave the way for the early signing of a bilateral investment treaty and a free trade agreement between the two countries."

Speaking with regard to the unveiling of the investment treaty during Commerce Minister Hamayun Akhtar Khan's visit to the United States last week, the embassy official announced that:

"We have just completed work on our model of the bilateral investment treaty. It includes a solid mechanism for international arbitration to secure our investment."

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