The Department of Foreign Affairs and Trade (DFAT) has commenced preliminary consultations with Argentina, Pakistan and Türkiye with a view to renegotiating our decades-old bilateral investment treaties.

• Argentina (Date of entry into force: 11 January 1997)
  Agreement between the Government of Australia and the Government of the Argentine Republic on the Promotion and Protection of Investments, and Protocol
• Pakistan (Date of entry into force: 14 October 1998)
  Agreement between Australia and the Islamic Republic of Pakistan on the Promotion and Protection of Investments
• Türkiye (Date of entry into force: 29 June 2009)
  Agreement between Australia and the Government of the Republic of Turkey on the Reciprocal Promotion and Protection of Investments

Call for Submissions

DFAT is seeking submissions from interested parties to inform Australia's negotiating position in modernising Australia's BITs with Argentina, Pakistan, and Türkiye.

The opportunity to renegotiate these BITs follows the earlier update of our BIT with Uruguay, which entered into force in 2022, and the conclusion of a new modern BIT with the UAE in November 2024. Investment treaties form part of Australia's open rules-based economic architecture that helps deepen our economic engagement with partners around the world and which supports Australian trade, jobs, and prosperity.

Key renegotiation objectives

Consistent with the Government's November 2022 policy, key objectives to be addressed in the renegotiation of our BITs with Argentina, Pakistan, and Türkiye include modernising investment protection provisions to reflect current best practice. We aim to ensure there are explicit protections for governments' right to regulate in the public interest (including in relation to the environment and public health) and to remove or reform investor-State dispute settlement (ISDS) provisions. At the same time, we seek to ensure that investors' rights remain protected and that we maximise opportunities to facilitate investment flows that support energy transition, jobs and economic prosperity.

Content of Submissions

In pursuing these over-arching objectives, we seek your views on the key priorities to be taken forward as part of a future renegotiation, and any specific issues that you think should be addressed with specific partners.

Submissions may address any issue relating to renegotiation of our BITs with Argentina, Pakistan, or Türkiye. Without intending to limit the nature or scope of submissions, stakeholders may wish to address the types of safeguards that should be included to protect the Government's right to regulate in the public interest or the nature and extent of investor protections that should be included. Views on specific sectors where bilateral facilitation or enhanced collaboration between the parties would be useful, are also welcome. Other issues that stakeholders may wish to submit views on may include the scope of a renegotiated BIT, preferred exclusions from scope and dispute settlement. Stakeholders are also invited to consider and comment on the commercial, economic, regional, and other impacts that could be expected to arise from renegotiating Australia's BITs respectively with Argentina, Pakistan, and Türkiye. These suggestions are not intended to limit the issues stakeholders may wish to address in their submissions.

Submissions and confidentiality

Written submissions may take several forms – from a short email through to a more comprehensive analytical paper.

All submissions will be treated as public and may be published on this website, unless the author specifically requests that the submission, or part thereof, be handled in confidence. Unless otherwise requested, DFAT will publish the submission and the name of the submitting organisation or individual on its website. DFAT will not edit submissions prior to publishing. All details that have been included in a submission, including contact information, will be available on the DFAT website.

Submitters may request that all, or part, of a submission be treated as confidential. Material supplied in-confidence should be clearly marked 'IN CONFIDENCE' and provided in a separate attachment to non-confidential material.

By making a submission, the author(s) agree to their submission, or part thereof, being used by the Commonwealth of Australia for Commonwealth purposes.

Submissions may be lodged as follows:

By email: BITreformsubmissions@dfat.gov.au

By mail:

Bilateral Investment Treaty Reform Coordinator
Trade Law and Economic Security Division
Department of Foreign Affairs and Trade
RG Casey Building
John McEwen Crescent
Barton ACT 0221

Submissions should be lodged no later than 14 March 2025

Stakeholder consultations

The Department anticipates conducting roundtables with interested stakeholders with dates to be advised. To register your interest to attend an in-person or virtual consultation session please email: BITreformsubmissions@dfat.gov.au.