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Title Investment Provisions in RTAs

Title Investment Provisions in RTAs. W. A. Dymond November 14, 2003. Investment Provisions in RTAs. Where are they found The case for investment provisions The content of these provisions The challenge of multilateralization The options Good News, Bad News.

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Title Investment Provisions in RTAs

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  1. Title Investment Provisions in RTAs W. A. Dymond November 14, 2003

  2. Investment Provisions in RTAs • Where are they found • The case for investment provisions • The content of these provisions • The challenge of multilateralization • The options • Good News, Bad News

  3. Where Investment Provisions are Found • NAFTA, U.S., Canadian and Mexican RTAs • APEC, ASEAN, MERCOSUL, Andean Pact – statements of intent • FTAA? • Australia – NZ not • BITs: almost 2,200 in 2002

  4. The Case for Investment Provisions in RTAs • Investment as driver of economic growth • Market reform and trade liberalization • MNEs as mobilizers of capital • Restoring bad reputations

  5. The Content of Investment Provisions in RTAs Non-discrimination Expropriation Minimum Standard of treatment Transfers Performance Requirements Establishment Investor state dispute settlement

  6. The Challenge of Multilateralization: • Arguments For: • Multilateral agreements are better than regional or bilateral ones • Existing WTO provisions provide a launch pad

  7. The Challenge of Multilateralization: • Arguments Against: • Investment not a trade issue: no place for multilateral approach • Need to maintain policy flexibility in face of power asymmetries • RTAs can be tailored: multilateral agreements cannot be

  8. Issues to Resolve • Architecture • Reconciliation • Special and differential treatment

  9. Architecture • Beneficiaries and States • Depth and duration of intrusive obligations • Balance of advantage

  10. Reconciliation • Vienna Convention • Supercession clause in NAFTA • Broad network of RTAs and BITS creates major reconciliation 10task

  11. Special and Differential Treatment • Rational for S&D in investment provisions • Could investment provisions be multilateralized without S&D?

  12. Options • Post Cancun pace of RTAs and Bits likely to accelerate • Doha Mandate not sustainable • GATS options • Declaration of principles

  13. Good News Bad News Story • Good News • Bad News • Risks manageable

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