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Elements of Investment Liberalization: Thailand’s Perspectives

Elements of Investment Liberalization: Thailand’s Perspectives. Dr. Vilawan Mangklatanakul 2 October 2007. Thailand’s FTA experiences. ASEAN as the first FTA separate investment agreements for liberalization and protection. Bilateral agreements containing investment chapters:

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Elements of Investment Liberalization: Thailand’s Perspectives

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  1. Elements of Investment Liberalization:Thailand’s Perspectives Dr. Vilawan Mangklatanakul 2 October 2007

  2. Thailand’s FTA experiences • ASEAN as the first FTA • separate investment agreements for liberalization and protection. • Bilateral agreements containing investment chapters: • TAFTA, Thai-New Zealand, JTEPA • Ongoing negotiations: • Thai-India, Thai-EFTA, ASEAN-China, ASEAN-Korea, ASEAN-Australia-New Zealand, BIMSTEC

  3. Current Positions of Thailand • Covers 5 non-service sectors: manufacturing, fishery, agriculture, forestry, and mining and quarrying • Other mode 3 services to be covered in services chapter/agreement. • Positive list approach to liberalization

  4. Current Positions of Thailand (2) • The scope of ‘investment’ covers only FDI • Prohibit only TRIMS-based performance requirements

  5. Current Positions of Thailand (3) • Provide MFN for post-establishment stage only • Scope of dispute settlement mechanisms: • No prior consent • Excludes performance requirements, pre-establishment breaches

  6. Concluding Remarks • Dilemma: the need to attract FDI vs the need to protect domestic businesses • To strike the right balance is difficult. • No perfect model that is appropriate for all negotiating partners. • Should aim for a cautious and flexible approach which takes into account different levels of development

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