We exist. I'm a Canadian P.Eng. (Software). I got my experience working on software for controlling unmanned vehicles, and I know a few dozen other Software P.Engs.

Requiring some amount of local experience makes sense, as a major part of engineering is ensuring your project abides by all local laws that govern what you're doing. Getting the required work experience under the supervision of another engineer is a lot rarer than in other disciplines, but on the bright side, that P.Eng. title is required a lot less often than in other disciplines.

With that being said, it certainly is difficult for foreign engineers to get their degrees recognized. If any improvement is to be made on that front, the government almost certainly will need to prod the engineering associations into doing a better job of evaluating foreign credentials.