ISLAMABAD: Pakistan and Australia on Thursday agreed to continue talks to finalise a new bilateral investment treaty (BIT) to foster and expand opportunities in key sectors including energy, mining, technology, agriculture and industrial development.

The two countries reaffirmed their intention to continue the dialogue to fine-tune the existing 1998 Pakistan-Australia Bila­teral Investment Treaty, with a view to conclude a modern, balanced, and forward-looking treaty framework that will promote investment flows.

The understanding was reached after the conclusion of the Islamabad round of negotiations. The Australian delegation was led by First Assistant Secretary Depart­ment of Foreign Affairs and Trade Patricia Holmes, while the Pakistani side was led by Board of Investment Additional Secretary Zulfiqar Ali.

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The two sides later formally signed the agreed minutes recording the significant progress achieved during the Islamabad round of negotiations.

Minister for Board of Investment Qaiser Ahmed Sheikh appreciated the constructive engagement between Pakistan and Australia and emphasised the government’s commitment to ensuring a modern investment climate aligned with global best practices.

He highlighted that Pakistan is entering a new phase of investment policy reforms, aimed at promoting transparency, investor confidence, and long-term economic cooperation with global partners.

Published in Dawn, November 21st, 2025