View this email in your browser
<https://mailchi.mp/law/perspective-243?e=763bcf158c>
哥伦比亚大学国际直接投资展望中文版都可以在我们的网站查看：
http://ccsi.columbia.edu/publications/columbia-fdi-perspectives.
*Columbia FDI Perspectives*
Perspectives on topical foreign direct investment issues
No. 243 January 14, 2019
Editor-in-Chief: Karl P. Sauvant ([log in to unmask])
Managing Editor: Marion A. Creach ([log in to unmask])
*Five key considerations for the WTO investment-facilitation discussions, *
*going forward*
<https://columbia.us6.list-manage.com/track/click?u=ab15cc1d53&id=ece1c418ea&e=763bcf158c>
*** <#m_7033819107054821191_m_2267108756063750536__edn1>
by
Karl P. Sauvant** <#m_7033819107054821191_m_2267108756063750536__edn2>
After a year of deliberations, the WTO’s structured discussions on a
multilateral framework on investment facilitation for development took
stock, on December 6, 2018, of what had been achieved so far.[1]
<#m_7033819107054821191_m_2267108756063750536__edn3> In seven substantive
meetings in 2018, delegates made significant headway in identifying the
possible elements of an investment-facilitation framework (IFF) aimed at
improving transparency and predictability of investment measures;
streamlining and speeding up administrative procedures and requirements;
and enhancing international cooperation, information sharing, the exchange
of best practices, and relations with stakeholders, including dispute
prevention.[2] <#m_7033819107054821191_m_2267108756063750536__edn4>
On average, 70 delegations attended the meetings, both sponsors and
non-sponsors of the Ministerial Declaration. The result was a checklist of
issues and a work program and meeting schedule for the first half of 2019,
with the goal of developing the elements of a multilateral IFF for
submission to the 2020 WTO Ministerial.
In further working on an IFF, delegates should reflect on five key issues
to achieve a broadly acceptable outcome:
- *Scope*. The discussions should remain strictly focused on technical
issues directly related to investment facilitation for development and
continue to make it crystal clear that they will not eventually address
market access, investment protection and investor-state dispute settlement.
Instead of seeking an abstract definition of investment facilitation, the
scope of an IFF could be defined pragmatically by identifying the specific
investment-facilitation measures a framework should cover. Remaining
focused on such technical issues as transparency and avoiding the most
controversial issues surrounding the investment regime increases the
chances of agreeing on a framework.
- *Development dimension*. The Ministerial Statement explicitly speaks
about “investment facilitation for development.” Hence, any framework
should directly address the development dimension and serve the Sustainable
Development Goals. In particular, it should not only facilitate investment
flows in general, but host countries should be allowed—if not supported—to
give special facilitation support to “sustainable” investments, i.e.,
investments with certain “sustainability characteristics” that directly
increase the likelihood that investments have desired impacts in host
countries. Hence, the framework should contain provisions that support host
countries in, e.g., establishing linkage programs that upgrade domestic
firms to become potential suppliers to foreign affiliates (if the latter so
choose). Linkages allow domestic firms benefit from the tangible and
intangible assets of foreign affiliates, and foreign affiliates benefit
from the capacities of domestic firms and shortened supply chains.
Promoting best practices and exchanges of experiences are furthermore
helpful. Ensuring that investment facilitation contributes directly to
development is particularly important to bring more developing countries on
board and, additionally, thwart the impression that “facilitation”
primarily benefits investors.
- *Balance*. The discussions have focused so far entirely on what host
countries can do to facilitate investment—and doubtlessly they are central
actors. But home countries and MNEs play a role too. A number of (developed
and developing) home countries support their outward investors in one way
or the other. Making home country measures (e.g., financial support for
outward investors’ feasibility studies) more transparent, for example,
increases the effectiveness of an IFF. Similarly, many MNEs have corporate
social responsibility policies; inviting them to make these better known
would be of use to host countries. In distinction to most (host-country
focused) investment agreements, an IFF with obligations for both host and
home countries increases the chances of arriving at a consensus.
- *Ground-level practical input*. Investment facilitation throughout the
life cycle of projects involves a myriad of practical issues familiar to
investment promotion agencies (IPAs) and international investors. WTO
delegates (most of whom are well-versed in trade matters but not always in
investment matters) should find ways (apart from domestic stakeholder
consultations) to benefit from the pragmatic experience of investment
practitioners. For example, a non-governmental, neutral organization could
organize a commentary group, consisting primarily of practitioners, to
provide evidence-based input to ensure the relevance and effectiveness of a
framework.
- *Capacity building*. Negotiating and implementing an IFF requires
considerable resources, which most least-developed countries and many
developing countries do not have. Strengthening specifically these
countries’ IPAs (typically the lead investment agencies)—not only to
implement a framework, but also to attract especially sustainable
investment in a highly competitive world FDI market—is central for
countries to benefit from any framework. (For comparison, US$300 billion
were mobilized between 2006 and 2016 for the WTO’s aid-for-trade
initiative, reaching 146 countries.[3]
<#m_7033819107054821191_m_2267108756063750536__edn5>) Providing
technical assistance through an IFF is particularly important for the
least-developed countries, many of which are currently not participating
actively in the structured discussions.
Arriving at an IFF is a considerable challenge at a time when
multilateralism is under attack. However, since all countries seek to
attract investment to advance economic growth and sustainable development,
it ought to be possible to negotiate a framework, incrementally but with a
critical mass. In doing so, care should be taken to take different concerns
into account, while not overloading the negotiations. Accordingly, perhaps
some issues may have to be left for a built-in agenda for future
negotiations.
------------------------------
* <#m_7033819107054821191_m_2267108756063750536__ednref1> *The Columbia FDI
Perspectives are a forum for public debate. The views expressed by the
author(s) do not reflect the opinions of CCSI or Columbia University or our
partners and supporters. Columbia FDI Perspectives (ISSN 2158-3579) is a
peer-reviewed series.*
** <#m_7033819107054821191_m_2267108756063750536__ednref2> Karl P. Sauvant (
[log in to unmask]) is Resident Senior Fellow at the Columbia Center on
Sustainable Investment, a joint center of Columbia Law School and the Earth
Institute at Columbia University. The author wishes to thank Axel Berger,
Felipe Hees and Hamid Mamdouh for their useful comments on an earlier draft
and Fabien Gehl, Ahmad Ghouri and Kavaljit Singh for their helpful peer
reviews.
[1] <#m_7033819107054821191_m_2267108756063750536__ednref3> For background,
see, ICTSD, “Crafting a framework on investment facilitation” (Geneva:
ICTSD, 2018)
<https://columbia.us6.list-manage.com/track/click?u=ab15cc1d53&id=c5be5c6d03&e=763bcf158c>,
https://www.ictsd.org/themes/services-and-digital-economy/research/crafting-a-framework-on-investment-facilitation
.
[2] <#m_7033819107054821191_m_2267108756063750536__ednref4> “Joint
Ministerial Statement on Investment Facilitation for Development,”
WT/MIN(17)/59
<https://columbia.us6.list-manage.com/track/click?u=ab15cc1d53&id=418beac12a&e=763bcf158c>
.
[3] <#m_7033819107054821191_m_2267108756063750536__ednref5> OECD/WTO, *Aid
for Trade at a Glance 2017* (Paris: OECD, 2017), p. 3
<https://columbia.us6.list-manage.com/track/click?u=ab15cc1d53&id=5138f8eb7a&e=763bcf158c>
.
*The material in this Perspective may be reprinted if accompanied by the
following acknowledgment: “Karl P. Sauvant, ‘Five key considerations for
the WTO investment-facilitation discussions, going forward,’ Columbia FDI
Perspectives, No. 243, January 14, 2019. Reprinted with permission from the
Columbia Center on Sustainable Investment (**www.ccsi.columbia.edu
<http://www.ccsi.columbia.edu>**).” A copy should kindly be sent to the
Columbia Center on Sustainable Investment at **[log in to unmask]*
<[log in to unmask]>*.*
For further information, including information regarding submission to the
*Perspectives*, please contact: Columbia Center on Sustainable Investment,
Marion A. Creach, [log in to unmask]
*Most recent Columbia FDI Perspectives*
<https://columbia.us6.list-manage.com/track/click?u=ab15cc1d53&id=c59a66f202&e=763bcf158c>
- No 242, Matthew Stephenson and Jose Ramon Perea, “How to leverage
outward FDI for development? A six-step guide for policymakers,” December
31, 2018
- No. 241, Robert W. Schwieder, “Lessons for a future advisory center on
international investment law,” December 17, 2018
- No. 240, Felipe Hees, Henrique Choer Moraes, Pedro Mendonça
Cavalcante, and Pedro Barreto da Rocha Paranhos, “Investment facilitation:
leaving the past behind,” December 3, 2018
*All previous FDI Perspectives are available at
**http://ccsi.columbia.edu/publications/columbia-fdi-perspectives/
<http://ccsi.columbia.edu/publications/columbia-fdi-perspectives/>**. *
*Other relevant CCSI news and announcements*
- *We are accepting applications for our three upcoming executive
trainings on: Extractive Industries and Sustainable Development
<https://columbia.us6.list-manage.com/track/click?u=ab15cc1d53&id=e88be1f3eb&e=763bcf158c>
(June 3–14, 2019), Sustainable Investments in Agriculture
<https://columbia.us6.list-manage.com/track/click?u=ab15cc1d53&id=035352ebf8&e=763bcf158c>
(June 11–21, 2019) and Investment Treaties and Arbitration for Government
Officials
<https://columbia.us6.list-manage.com/track/click?u=ab15cc1d53&id=891db47e6b&e=763bcf158c>
(June 17–27, 2019).* Each program is designed to equip participants with
the necessary skills, analytical tools and frameworks to address relevant
challenges and opportunities, and to encourage a rich dialogue about best
practices from around the globe.* More information about each training,
including brochures and applications, is available at the links above.*
Applications are accepted on a rolling basis. Participants will receive a
Statement of Attendance from Columbia University.
- *On January 30, 2019*, CCSI, the Columbia SIPA MPA in
Development Practice Program, the Institute for the Study of Human Rights,
RightsLink, and the Human Rights Institute will co-sponsor a discussion
at Columbia Law School with Jeffrey Sachs, the Special Advisor to the UN
Secretary-General on the SDGs, and Philip Alston, the UN’s Special
Rapporteur on extreme poverty and human rights, on the relationship between
finance, human rights, and the SDGs, including a focus on current trends
toward privatization. *For more information, and to register, please see
our website here
<https://columbia.us6.list-manage.com/track/click?u=ab15cc1d53&id=17055e08b6&e=763bcf158c>.*
- *On February 19, 2019*, CCSI, the Institute for the Study of Human
Rights, and the Saltzman Institute of War and Peace Studies will co-host
"Is Liberalism Making the World Less Fair? Three Authors Discuss Their
Recent Books on Investor vs. Human Rights in the Global Economy," at
Columbia Law School. *Please see our website here
<https://columbia.us6.list-manage.com/track/click?u=ab15cc1d53&id=59931bcebe&e=763bcf158c>
for more information.*
Karl P. Sauvant, Ph.D.
Resident Senior Fellow
Columbia Center on Sustainable Investment
Columbia Law School - Earth Institute
Ph: (212) 854-0689
Fax: (212) 854-7946
*Copyright © 2019 Columbia Center on Sustainable Investment (CCSI), All
rights reserved.*
[log in to unmask]
*Our mailing address is:*
Columbia Center on Sustainable Investment (CCSI)
Columbia Law School - Earth Institute, Columbia University
435 West 116th Street
New York, NY 10027
Add us to your address book
<https://columbia.us6.list-manage.com/vcard?u=ab15cc1d53&id=a61bf1d34a>
unsubscribe from this list
<https://columbia.us6.list-manage.com/unsubscribe?u=ab15cc1d53&id=a61bf1d34a&e=763bcf158c&c=f4e5d485c2>
update subscription preferences
<https://columbia.us6.list-manage.com/profile?u=ab15cc1d53&id=a61bf1d34a&e=763bcf158c>
[image: Email Marketing Powered by Mailchimp]
<http://www.mailchimp.com/monkey-rewards/?utm_source=freemium_newsletter&utm_medium=email&utm_campaign=monkey_rewards&aid=ab15cc1d53&afl=1>
--
*Karl P. Sauvant, PhD*
*Resident Senior Fellow*
*Columbia Center on Sustainable Investment*
Columbia Law School - The Earth Institute, Columbia University
435 West 116th St., Rm. JGH 825, New York, NY 10027
| p: (212) 854 0689 | cell: (646) 724 5600 e: [log in to unmask]
| w: www.ccsi.columbia.edu | t: @CCSI_Columbia
<https://twitter.com/CCSI_Columbia>
"Arriving at Sustainable FDI Characteristics", "Putting FDI on the G20
Agenda", "International Investment Facilitation: By Whom and for What?",
"Moving the G20's Investment Agenda Forward", "Emerging Markets and the
International Investment Law and Policy Regime", "Sustainable FDI for
Sustainable Development", "Towards an Investment Facilitation Framework:
Why? What? When?", "Beware of FDI Statistics!", "Towards an Indicative List
of FDI Sustainability Characteristics", “The Importance of Negotiating Good
Contracts", "A New Challenge for Emerging Markets: the Need to Develop an
Outward FDI Policy”, "China Moves the G20 toward an International
Investment Framework and Investment Facilitation", "The Next Step in
Governance: The Need for Global Micro-regulatory Frameworks", and "The
Evolving International Investment Law and Policy Regime: Ways Forward"
*are* available
at https://ssrn.com/author=2461782 and
http://www.works.bepress.com/karl_sauvant/.
--
*Karl P. Sauvant, PhD*
*Resident Senior Fellow*
*Columbia Center on Sustainable Investment*
Columbia Law School - The Earth Institute, Columbia University
435 West 116th St., Rm. JGH 825, New York, NY 10027
| p: (212) 854 0689 | cell: (646) 724 5600 e: [log in to unmask]
| w: www.ccsi.columbia.edu | t: @CCSI_Columbia
<https://twitter.com/CCSI_Columbia>
"Arriving at Sustainable FDI Characteristics", "Putting FDI on the G20
Agenda", "International Investment Facilitation: By Whom and for What?",
"Moving the G20's Investment Agenda Forward", "Emerging Markets and the
International Investment Law and Policy Regime", "Sustainable FDI for
Sustainable Development", "Towards an Investment Facilitation Framework:
Why? What? When?", "Beware of FDI Statistics!", "Towards an Indicative List
of FDI Sustainability Characteristics", “The Importance of Negotiating Good
Contracts", "A New Challenge for Emerging Markets: the Need to Develop an
Outward FDI Policy”, "China Moves the G20 toward an International
Investment Framework and Investment Facilitation", "The Next Step in
Governance: The Need for Global Micro-regulatory Frameworks", and "The
Evolving International Investment Law and Policy Regime: Ways Forward"
*are* available
at https://ssrn.com/author=2461782 and
http://www.works.bepress.com/karl_sauvant/.
____
AIB-L is brought to you by the Academy of International Business.
For information: http://aib.msu.edu/community/aib-l.asp
To post message: [log in to unmask]
For assistance: [log in to unmask]
AIB-L is a moderated list.
