Event 1. Module 3. Key Elements of IIAs and their impact on domestic reform Session Two: The rules of the game on investment incentives
|
|
- Basil Sullivan
- 5 years ago
- Views:
Transcription
1 Event 1. Module 3. Key Elements of IIAs and their impact on domestic reform Session Two: The rules of the game on investment incentives Context: understanding the political economy of investment incentives The limits on conditions to offer incentives Lessons from experience Tools to support countries in modernizing their incentives frameworks Presenter: Arthur Appleton Resource person: Roberto Echandi
2 INVESTMENT POLICY AND PROMOTION WEEK Investment Incentives: The Rules of the Game Day 2 Arthur E. Appleton Vienna October 13, 2015
3 OUTLINE A. Introduction Political Economy of Investment Incentives B. International Disciplines 1. The TRIMs Agreement (Articles III and XI GATT) 2. The SCM Agreement 3. The AoA Agreement C. Regional Disciplines 1. Overview 2. Example: NAFTA Rules Governing Performance Requirements 3
4 A. The Context: Political Economy of Investment Incentives 1. Debate exists on the efficacy of investment incentives 2. Many countries nevertheless use incentives as a means to attract investment 3. Many States fear that if they do not use incentives, they will lose out to the competition 4. Incentives can take many forms: tax holidays, cheap land, relief from requirements to hire local workers, etc. 5. Not all incentives raise issues: most States build roads, airports, infrastructure, schools, hospitals, etc. 6. Most Investment incentives go unchallenged: The glass house syndrome (exceptions exist) 4
5 A. Political Economy Considerations 7. States able to attract investment sometimes impose conditions on investment (performance requirements such as job creation, export requirements or local content requirements) 8. States need to examine which incentives and performance requirements are appropriate, effective (economically sensible) and legal in a given case 9. In this session, Roberto and I will discuss: a) Legal limits on incentives / performance requirements b) Lessons from experience c) Tools to support States that want to modernize their incentive framework 5
6 B. Legal Limits on Incentives and Performance Requirements: WTO Rules The most important WTO rules affecting investment are found in the following agreements: 1) Agreement on Trade-related Investment Measures (TRIMs) and the General Agreement on Tariffs and Trade (GATT) the disciplines are similar 2) Agreement on Subsidies and Countervailing Measures (SCM) 3) Agreement on Agriculture (AoA) 6
7 1) TRIMs and GATT The TRIMs Agreement largely repeats obligations in: - GATT Article III (national treatment) - GATT Article XI (quantitative restrictions) - Canada Administration of the Foreign Investment Review Act ( FIRA ) (BISD 30S/140, 1984) local content requirements violate Article III:4 Certain export performance requirements are OK 7
8 TRIMs Agreement a. Only applies to trade in goods not to trade in services b. Does not limit entry of investors or investment c. Applies to foreign and domestic investors d. Applies to measures designed to provide an advantage ( advantage is not defined) but includes SUBSIDIES e. All TRIMS that are inconsistent with GATT Article III or Article XI of the GATT are prohibited f. GATT exceptions are fully applicable g. The Annex to the TRIMs Agreement contains an illustrative list of prohibited measure (NOT exhaustive) 8
9 TRIMs Annex: Prohibited Measures Based on Article III:4 (GATT) deals with purchase or use: a) LOCAL CONTENT: TRIMS that require purchase or use of domestic products whether specified in terms of particular products, in terms of volume or value of products, or in terms of a proportion of volume or value of its local production b) LOCAL CONTENT / TRADE BALANCING: Limiting the purchase or use of imported products to amounts related to the volume or value of exports 9
10 TRIMs ANNEX: PROHIBITED MEASURES Based on Article XI (GATT) deals with import or export: a) TRADE BALANCING: Restricting the import of products used in or related to local production (usually to an amount related to the volume or value of local production exported) b) EXCHANGE BALANCING: Restrict the importation by an enterprise of products used in or related to its local production by restricting its access to foreign exchange to an amount related to the foreign exchange inflows attributable to the enterprise c) EXPORT RESTRICTIONS: Restrict the export or sale for export of products, whether specified in terms of particular products, volume or value of products, or proportion of volume or value of local production. 10
11 TRIMs Agreement: Performance Requirements Performance requirements condition investment based on factors such as technology transfer, import substitution and export performance. The Illustrative List covers a subset of Performance Requirements used by Members to condition investment. Performance requirements not tied to local content or trade balancing are not covered by the TRIMs Agreement Takeaway: Avoid conditioning investment on local content requirements, and trade and exchange balancing requirements. 11
12 2) Subsidies and Countervailing Measures (SCM) Subsidies are sometimes applied as an investment incentive Subsidy defined: (1) Financial Contribution (2) By a Government Body (3) That Confers a Benefit 12
13 Subsidies: Specificity A subsidy Must be specific to violate SCM specificity can take many forms: Enterprise specificity (particular company / companies) Industry specificity (particular sector) Regional specificity (particular region) 13
14 SCM: How to Avoid specificity: Use objective criteria or conditions for eligibility and amount of the subsidy that are automatic, neutral, which do not favour certain enterprises over others, and which are economic in nature and horizontal in application Must be spelled out in law and strictly adhered to Possible example: base subsidies on number of employees or size of enterprise (without running afoul of conditions specified in this and other slides) - Avoid enterprise, industry or regional specificity - Watch out for de facto benefits 14
15 The Three Types of Subsidies 1. PROHIBITED (Red Light) 2. ACTIONABLE (Amber Light) 3. NON-ACTIONABLE (Green Light) lapsed in 2000!! a. Research & Development Subsidies b. Disadvantaged Region Subsidies c. Environmental Subsidies 15
16 SCM: Prohibited Subsidies (Red Light) Prohibited Subsidies (Article 3 and Annex I ) are all deemed to be specific (can be de jure or de facto). No need to prove adverse effects - Contingent on export performance - Targeting use of domestic over imported goods (Export and import substitution subsidies i.e. local content) - This should sound familiar (TRIMs, GATT, FIRA) De facto specificity - Limited number of enterprises - Predominant use by certain enterprises - Disproportionate large subsidies to certain enterprises - Manner in which discretion exercised by granting authority (to grant or refuse a subsidy) 16
17 SCM: Actionable Subsidies (Amber Light) How to avoid Actionable subsidies: Avoid specificity Limit adverse effects to the economic interests of trading partners if there is specificity Takeaway: Many WTO Members use various forms of subsidies. If not based on fulfillment of local content or export performance requirements and if not otherwise specific some policy space exists for subsidies 17
18 3) Agreement on Agriculture (AoA) Agricultural subsidies: the SCM Agreement applies to subsidies for agricultural products subject to Article 21 of the AoA (which gives the AoA precedence). Domestic Support (pillar 2 of the AoA): The AoA allows Members to use certain subsidies that would otherwise violate the SCM Agreement but seeks to discipline these subsidies (which supposedly do not distort trade) 18
19 AoA: Domestic Support (Subsidies) Three categories of domestic support: Amber Box market price support, non-exempt direct payments and input subsidies Trade distorting but possibly legal (or illegal!) Scheduled and were subject to reduction commitments. Blue Box Unlimited. Designed to reduce distortion. Possibly trade distorting but permitted. Designed to reduce production. (Production limiting programmes) (Now actionable under the SCM) (See Art.6.5 AoA) Green Box Unlimited. Not trade distorting so allowed. (See Annex 2 AoA) (Now actionable under the SCM) If it is not green or blue, it s amber. 19
20 AoA: Export Subsidies The SCM Agreement prohibits all export subsidies not allowed by the AoA (SCM definition of subsidy applies) AoA prohibits a Member from providing export subsidies in excess of its scheduled commitments Article 9 of the AoA lists six types of export subsidies and subjects them to reduction commitments: 1. Cash payments contingent on export performance 2. Disposal through export of gov t stocks below domestic market price 3. Export subsidies paid by producers and processors financed by government action (taxes and levies) 4. Marketing subsidies (except widely available promotional subsidies) 5. Transport and freight subsidies on better terms than domestic rates 6. Subsidies for agricultural products contingent on their incorporation into exported products 20
21 AoA: Takeaways The AoA takes precedence over the SCM Pay attention to scheduled AoA commitments if you intend to use export subsidies or domestic support programs to attract agricultural investment Green Box programs offer the safest alternatives. They are unlimited if in accord with Annex 2 AoA. They include: Programs that not targeted at specific products; Income support decoupled from production or prices; Environmental and regional development programs. (Note similarity with now expired non-actionable/green Light subsidies under SCM) 21
22 C. Regional Disciplines on Investment Incentives Most BITs do not cover investment incentives Some BITs include limitations on performance requirements Some limit obligations to TRIMs Agreement (BIT Canada and Costa Rica) Other BITS go beyond TRIMs 2004 Canada Model BIT, Chapter on Investment in U.S. FTAs Apply also to investment in services Obligations to abstain from imposing a specific list of banned performance requirements Includes exceptions May apply the same rules and disciplines vis-à-vis all other countries that are not a Party to the Agreement 22
23 Regional Disciplines on Investment Incentives The investment and services chapters of Preferential Trade Agreements (PTAs) often exclude National Treatment obligations from applying to subsidies PTAs frequently include more detailed disciplines on performance requirements NAFTA provides an excellent example 23
24 NAFTA Example (An FTA) Article No Party may impose or enforce any of the following requirements, or enforce any commitment or undertaking, in connection with the establishment, acquisition, expansion, management, conduct or operation of an investment of an investor of a Party or of a non-party in its territory: (a) to export a given level or percentage of goods or services; (b) to achieve a given level or percentage of domestic content; (c) to purchase, use or accord a preference to goods produced or services provided in its territory, or to purchase goods or services from persons in its territory; (d) to relate in any way the volume or value of imports to the volume or value of exports or to the amount of foreign exchange inflows associated with such investment; 24
25 NAFTA Example (An FTA) Article 1106 (e) to restrict sales of goods or services in its territory that such investment produces or provides by relating such sales in any way to the volume or value of its exports or foreign exchange earnings; (f) to transfer technology, a production process or other proprietary knowledge to a person in its territory, except when the requirement is imposed or the commitment or undertaking is enforced by a court, administrative tribunal or competition authority to remedy an alleged violation of competition laws or to act in a manner not inconsistent with other provisions of this Agreement; or (g) to act as the exclusive supplier of the goods it produces or services it provides to a specific region or world market. 25
26 2012 NAFTA Dispute: Mobil Investments Canada Inc. and Murphy Oil Corporation v Government of Canada Heard under ICSID s Additional Facility Rules The Tribunal ruled that a Canadian Petroleum Board s imposition of a new requirement that foreign investors must spend millions of dollars per year on R&D and education and training (E&T) breached NAFTA Chapter 1106(1)(c). Tribunal found that R&D and E&T are services, and that the Board s measure was mandatory Tribunal found that a Canadian treaty reservation permitting performance requirements for its crude petroleum and natural gas industries was not applicable 26
27 D. Conclusions 1) Avoid conditioning private sector investment on local content requirements 2) Avoid trade balancing and exchange balancing requirements 3) Avoid export subsidies or import substitution subsidies (prohibited subsidies) 4) Avoid subsidies that are specific (targeted at an enterprise, industry or region) 5) Act consistently with scheduled commitments under the AoA 6) Make good use of the Green Box 7) Act in accord with obligations under bilaterals, RTAs 27
28 DISCUSSION Lessons learned from experience World Bank tools to support States that want to modernize their incentive framework Strategies for investment attraction (incentives) that do not violate international and regional commitments 28
29 INVESTMENT POLICY AND PROMOTION WEEK THANK YOU 29
Investment and Sustainable Development: Developing Country Choices for a Better Future
The Fifth Annual Forum of Developing Country Investment Negotiators 17-19 October, Kampala, Uganda Investment and Sustainable Development: Developing Country Choices for a Better Future BACKGROUND DOCUMENT
More informationCourse on WTO Law and Jurisprudence Part I: Basic WTO Legal Principles
Course on WTO Law and Jurisprudence Part I: Basic WTO Legal Principles The Agreement on Agriculture (II) Session 23 12 May 2016 DOMESTIC SUPPORT UNDER THE AOA In WTO non-legal terminology, domestic subsidies
More informationAnti-dumping and Subsidy Issues in Agricultural Trade. Presentation by G. Tereposky Thomas & Partners CATPRN Workshop 6 March 2005
Anti-dumping and Subsidy Issues in Agricultural Trade Presentation by G. Tereposky Thomas & Partners CATPRN Workshop 6 March 2005 Overview of Presentation 1. Introduction 2. What is dumping? 3. What is
More informationOrganisation for Economic Co-operation and Development 15 May 1996 Organisation de Coopération et de Développement Economiques
Unclassified DAFFE/MAI/EG3(96)2 Organisation for Economic Co-operation and Development 15 May 1996 Organisation de Coopération et de Développement Economiques Negotiating Group on the Multilateral Agreement
More informationCourse on WTO Law and Jurisprudence Part II: WTO Law on Services, Intellectual Property, Trade Remedies, and Other Disciplines
Course on WTO Law and Jurisprudence Part II: WTO Law on Services, Intellectual Property, Trade Remedies, and Other Disciplines IMPORT LICENSING AND TRIMS Session 21 30 March 2017 AGENDA I. Import licensing
More informationWTO Agreement on Agriculture. Bishkek, 26 May 2015
WTO Agreement on Agriculture diwakar.dixit@wto.org Bishkek, 26 May 2015 Came into effect in 1995 Covers three areas/pillars: Market access (border measures) Domestic support Export competition Coverage/scope:
More informationOverview of WTO Rules: Subsidies and Trade Remedies. Prof. Mukesh Bhatnagar Centre for WTO Studies IIFT, New Delhi
Overview of WTO Rules: Subsidies and Trade Remedies Prof. Mukesh Bhatnagar Centre for WTO Studies IIFT, New Delhi Email: mbhatnagar@nic.in Trade Remedies WTO Members aspire for free trade However, free
More informationTRADE-RELATED INVESTMENT MEASURES
CHAPTER 9 Chapter 9: Trade-related Investment Measures TRADE-RELATED INVESTMENT MEASURES OVERVIEW OF RULES 1. BACKGROUND OF THE RULES After the late 1980s, a significant increase in foreign direct investment,
More informationArticle 2. National Treatment and Quantitative Restrictions
1 ARTICLE 2 AND THE ILLUSTRATIVE LIST... 1 1.1 Text of Article 2 and the Illustrative List... 1 1.2 Article 2.1... 2 1.2.1 Cumulative application of Article 2 of the TRIMs Agreement, Article III of the
More informationWorld Trade Law. Text, Materials and Commentary. Simon Lester and Bryan Mercurio with Arwel Davies and Kara Leitner
World Trade Law Text, Materials and Commentary Simon Lester and Bryan Mercurio with Arwel Davies and Kara Leitner HART- PUBLISHING OXFORD AND PORTLAND, OREGON 2008 Part I Introduction to the Legal and
More informationLOCAL CONTENT. Kazakhstan- Mining & Petroleum
LOCAL CONTENT Kazakhstan- Mining & Petroleum The project 1 - background Resource-rich countries are increasingly inserting requirements for local content ( local content provisions ) into their legal framework,
More informationT h e l e g a l i t y o f t h e p r o p o s e d U. S. b o r d e r a d j u s t m e n t t a x " u n d e r W T O l a w
T h e l e g a l i t y o f t h e p r o p o s e d U. S. b o r d e r a d j u s t m e n t t a x " u n d e r W T O l a w P h i l i p p e D e B a e r e 1. This Memorandum addresses the legality under WTO law
More informationPART I CHAPTER 1 MOST-FAVOURED-NATION TREATMENT PRINCIPLE
PART I CHAPTER 1 MOST-FAVOURED-NATION TREATMENT PRINCIPLE 1. OVERVIEW OF RULES (1) The Background of Rules: Most-Favoured-Nation Treatment (MFN) Most-Favoured-Nation treatment or MFN, which requires Members
More informationWORLD TRADE ORGANIZATION
WORLD TRADE ORGANIZATION WT/DS139/AB/R 31 May 2000 (00-2170) Original: English CANADA CERTAIN MEASURES AFFECTING THE AUTOMOTIVE INDUSTRY AB-2000-2 Report of the Appellate Body Page i I. Introduction...1
More informationNorth American Free Trade Agreement. Chapter 11: Investment
NORTH AMERICAN FREE TRADE AGREEMENT (NAFTA), TEXT OF THE AGREEMENT (EXCERPTS RELATING TO THE PROTECTION OF INVESTMENTS, CHAPTER 11: ARTICLES 1101-1120) North American Free Trade Agreement PART FIVE: INVESTMENT,
More informationUlla KASK Agriculture and Commodities Division WTO
Ulla KASK Agriculture and Commodities Division WTO World Trade Organization/ 154, rue de Lausanne / 1211 Geneva 21 / Switzerland / ulla.kask@wto.org 1 Outline A. Introduction A. The WTO and environment
More informationLOCAL CONTENT. Tanzania - Mining
LOCAL CONTENT Tanzania - Mining The project 1 - background Resource-rich countries are increasingly inserting requirements for local content ( local content provisions ) into their legal framework, through
More informationAgreement on Trade-Related Investment Measures
1 of 30 3/15/2010 2:17 AM THE WTO WTO NEWS TRADE TOPIC español français home > resources > publications > wto analytical index > table of contents > investment WTO ANALYTICAL INDEX: INVESTMENT Agreement
More informationCANADA. Chapter 8. Quantitative Restrictions 1) EXPORT RESTRICTIONS ON LOGS
Chapter 8 CANADA Japan needs to monitor Canada s service sector. Canada has continued the use of policies which protect culture-related industries, and in June 2000 a proposal was made for tougher inspection
More informationNATIONAL TREATMENT PRINCIPLE
Chapter 2 National Treatment Principle Chapter 2 NATIONAL TREATMENT PRINCIPLE OVERVIEW OF RULES National treatment (GATT Article III) stands alongside MFN treatment as one of the central principles of
More informationPROTOCOL ON THE ACCESSION OF THE PEOPLE'S REPUBLIC OF ClDNA. Preamble
PROTOCOL ON THE ACCESSION OF THE PEOPLE'S REPUBLIC OF ClDNA Preamble The World Trade Organization ("WTO"), pursuant to the approval of the Ministerial Conference of the WTO accorded under Article XII of
More informationTRADE-RELATED INVESTMENT MEASURES
Chapter 8 TRADE-RELATED INVESTMENT MEASURES 1. OVERVIEW OF RULES After the late 1980s, a significant increase in foreign direct investment, especially in developing countries, took place throughout the
More informationLOCAL CONTENT. Botswana- Mining
LOCAL CONTENT Botswana- Mining The project 1 - background Resource-rich countries are increasingly inserting requirements for local content ( local content provisions ) into their legal framework, through
More informationWTO Appellate Body rules against USA in the Cotton Dispute Case. Parthapratim Pal
WTO Appellate Body rules against USA in the Cotton Dispute Case Parthapratim Pal In a recent ruling of significance for the evolving agricultural trade regime, a WTO Appellate Body (AB) has supported all
More informationRatnakar Adhikari. Presented at Training on International Trading System 7-9 February 2012, Lalitpur
Ratnakar Adhikari Presented at Training on International Trading System 7-9 February 2012, Lalitpur Historical background WTO in a nutshell Major agreements of the WTO 17 years of WTO Recent developments
More information5 Implications of WTO s agreement for logistics FTZs 29
Chapter 5: Implications of WTO s agreement for logistics FTZs 87 5 Implications of WTO s agreement for logistics FTZs 29 World Trade Organization (WTO) obligations have direct policy implications for the
More informationLOCAL CONTENT. Tanzania - Petroleum
LOCAL CONTENT Tanzania - Petroleum The project 1 - background Resource-rich countries are increasingly inserting requirements for local content ( local content provisions ) into their legal framework,
More informationTRADE-RELATED INVESTMENT MEASURES
CHAPTER 9 TRADE-RELATED INVESTMENT MEASURES A. OVERVIEW OF RULES 1. BACKGROUND OF THE RULES After the late 1980s, a significant increase in foreign direct investment, especially in developing countries,
More informationNATIONAL TREATMENT PRINCIPLE
Chapter 2 NATIONAL TREATMENT PRINCIPLE 1. OVERVIEW OF RULES National treatment (GATT Article III) stands alongside MFN treatment as one of the central principles of the WTO Agreement. Under the national
More informationExpanding Trade and Investment in South Eastern Europe Friedrich Ebert Stiftung Brussels April 2007
Expanding Trade and Investment in South Eastern Europe Friedrich Ebert Stiftung Brussels 18-21 April 2007 A Reader s Guide to CEFTA 2006 Per Magnus Wijkman Technical Advisor to the SP TWG Elements of my
More informationWTO disciplines on Domestic support. Belgorod, Russian Federation 20 November 2013
WTO disciplines on Domestic support Diwakar.dixit@wto.org Belgorod, Russian Federation 20 November 2013 Agreement on Agriculture* Covers three areas/pillars: Market access (border measures) Export competition
More informationCHAPTER 2 NATIONAL TREATMENT AND MARKET ACCESS FOR GOODS ARTICLE 2.1. Objective
CHAPTER 2 NATIONAL TREATMENT AND MARKET ACCESS FOR GOODS ARTICLE 2.1 Objective The Parties shall progressively liberalise trade in goods and improve market access over a transitional period starting from
More informationDetailed Presentation of Domestic Support
WTO E-LEARNING COPYRIGHT 12 Detailed Presentation of Domestic Support OBJECTIVES Present the second pillar of the Agreement on Agriculture: Domestic Support Outline the Conceptual Framework of the rules
More informationILLUSTRATIVE MOCK EXAMPLES
ILLUSTRATIVE MOCK EXAMPLES ILLUSTRATIVE 1 MOCK EXAMPLES OF NOTIFICATIONS UNDER ARTICLE 25.1 The following matrix can be used to determine what type of notification must be made 2 : Does your Government
More informationEvent 1. Module 2. The Converging Strands Between Trade and Investment Session Two: The mega regionals, impacts for members and non-members
Event 1. Module 2. The Converging Strands Between Trade and Investment Session Two: The mega regionals, impacts for members and non-members The different mega-regionals: groupings, agendas, contents and
More informationOverview of Presentation
Overview of Presentation Introduction to International Investment Policy and Law Defining the Scope of Application in IIAs Investment Protection in IIAs Relative Standards of Treatment: National and Most-
More informationGATT Obligations: -Shailja Singh Assistant Professor Centre for WTO Studies, New Delhi
GATT Obligations: Article I (MFN), II (Bound Rates), III (National Treatment), XI (QRs), XX (Exceptions) and XXIV (FTAs) March 06, 2012 -Shailja Singh Assistant Professor Centre for WTO Studies, New Delhi
More informationGATT Obligations: Article I (MFN), II (Bound Rates), III (National Treatment), XI (QRs), XX (Exceptions) and XXIV (FTAs) -Shailja Singh
GATT Obligations: Article I (MFN), II (Bound Rates), III (National Treatment), XI (QRs), XX (Exceptions) and XXIV (FTAs) -Shailja Singh Assistant Professor Centre for WTO Studies, New Delhi GATT - Structure
More informationLOCAL CONTENT. Philippines Mining
LOCAL CONTENT Philippines Mining The project 1 - background Resource-rich countries are increasingly inserting requirements for local content ( local content provisions ) into their legal framework, through
More informationTECHNICAL COOPERATION HANDBOOK ON NOTIFICATION REQUIREMENTS AGREEMENT ON SUBSIDIES AND COUNTERVAILING MEASURES. Revised August 2013
TECHNICAL COOPERATION HANDBOOK ON NOTIFICATION REQUIREMENTS AGREEMENT ON SUBSIDIES AND COUNTERVAILING MEASURES Revised August 2013 1. This section of the Handbook on Notification Requirements covers the
More informationUruguay Round. The GATT. A Negotiating History ( ) KLUWER LAW INTERNATIONAL TERENCE P. STEWART, EDITOR VOLUME IV: THE END GAME (PART I)
The GATT Uruguay Round A Negotiating History (1986-1994) TERENCE P. STEWART, EDITOR VOLUME IV: THE END GAME (PART I) KLUWER LAW INTERNATIONAL The Hague London Boston TABLE OF CONTENTS Introduction xxi
More informationAGREEMENT ON SUBSIDIES AND COUNTERVAILING MEASURES: NEED FOR CLARIFICATION AND IMPROVEMENT
WORKING PAPER NO. 101 AGREEMENT ON SUBSIDIES AND COUNTERVAILING MEASURES: NEED FOR CLARIFICATION AND IMPROVEMENT ANWARUL HODA RAJEEV AHUJA MAY, 2003 INDIAN COUNCIL FOR RESEARCH ON INTERNATIONAL ECONOMIC
More informationANNEX D REQUEST FOR THE ESTABLISHMENT OF A PANEL
Page D-1 ANNEX D REQUEST FOR THE ESTABLISHMENT OF A PANEL Contents Page Annex D Request for the Establishment of a Panel Document WT/DS257/3 D-2 Page D-2 ANNEX D REQUEST FOR THE ESTABLISHMENT OF A PANEL
More informationAGREEMENT ON AGRICULTURE
AGREEMENT ON AGRICULTURE Members, Having decided to establish a basis for initiating a process of reform of trade in agriculture in line with the objectives of the negotiations as set out in the Punta
More informationDifferential electricity taxes: Meandering the murky line between protectionism and environmental protection
Differential electricity taxes: Meandering the murky line between protectionism and environmental protection Kateryna Holzer World Trade Institute 17th Global Conference on Environmental Taxation Groningen,
More informationTHE UNIVERSITY OF THE WEST INDIES
THE UNIVERSITY OF THE WEST INDIES EXAMINATIONS OF January 2007 CODE AND NAME OF COURSE: LAW6330 Advanced Public International Trade Law DATE AND TIME: DURATION: 3 HOURS INSTRUCTIONS TO CANDIDATES: This
More information1of 23. Learning Objectives
Learning Objectives 1. Describe the various situations in which a country may rationally choose to protect some industries. 2. List the most common fallacious arguments in favour of protection. 3. Explain
More informationWTO ANALYTICAL INDEX SCM Agreement Article 3 (Jurisprudence)
1 ARTICLE 3... 2 1.1 Text of Article 3... 2 1.2 General... 2 1.3 "Except as provided in the Agreement on Agriculture"... 3 1.4 Article 3.1(a)... 3 1.4.1 General... 3 1.4.2 "contingent in law upon export
More informationPrepared for Members and Committees of Congress
Prepared for Members and Committees of Congress Œ œ Ÿ This report examines U.S. commodity subsidy programs against an emerging set of criteria that test their potential vulnerability to challenge in the
More informationMechanics: Presentation and commentator from the IP team
Event 2. Breakout Sessions Mechanics: Presentation and commentator from the IP team Breakout Session 3: Sustainability Topics Chair: Ivan Nimac Presenter Arthur Appleton, Syed A. Mahmood, Grahame Dixie
More informationArticle 2. Specificity
1 ARTICLE 2... 1 1.1 Text of Article 2... 1 1.2 General... 2 1.3 Article 2.1... 3 1.3.1 General... 3 1.3.1.1 Order of analysis... 4 1.3.2 Chapeau of Article 2.1... 5 1.3.2.1 "certain enterprises"... 5
More informationRegional Trade Agreements and the WTO: WTO Consistency of East Asian RTAs
Regional Trade Agreements and the WTO: WTO Consistency of East Asian RTAs Seung Wha CHANG Professor of Law Seoul National University September 12-13 I. Introduction 1. East Asian RTAs in Effect (as of
More informationDECISION No 2/2000 OF THE EC-MEXICO JOINT COUNCIL of 23 March 2000 (2000/415/EC)
L 157/10 DECISION No 2/2000 OF THE EC-MEXICO JOINT COUNCIL of 23 March 2000 (2000/415/EC) THE JOINT COUNCIL, Having regard to the Interim Agreement on trade and traderelated matters between the European
More information1. OVERVIEW OF RULES. (1) Rules of Origin
CHAPTER 9 RULES OF ORIGIN 1. OVERVIEW OF RULES (1) Rules of Origin Rules of origin are used to determine the nationality of goods traded in international commerce, however, there are no internationally
More informationSummary of negotiating objectives
Summary of negotiating objectives On 29 October 2015 New Zealand and European Union (EU) leaders announced the intention to start the process for negotiations to achieve swiftly a deep and comprehensive
More informationThe agreement of principal relevance in the WTO context is the Agreement on Subsidies and Countervailing measures (the "SCM Agreement").
AFTER BREXIT: State Aid under WTO disciplines David Unterhalter SC and Thomas Sebastian Amidst the speculation as to what legal regime is likely to govern the UK s trading relationships with its major
More informationInternational Agreements Covering Foreign Investment in Services: Patterns and Linkages
8 International Agreements Covering Foreign Investment in Services: Patterns and Linkages federico ortino and audley sheppard* i. introduction With the growth of the service industry in the last 30 years,
More informationExpanding supply chains and required transparency in export restrictions of raw materials
Expanding supply chains and required transparency in export restrictions of raw materials Junichiro Kuroda Principal Director Multilateral Trade System Department Ministry of Economy, Trade and Industry
More informationFor purposes of this subtitle
TITLE 19 - CUSTOMS DUTIES CHAPTER 4 - TARIFF ACT OF 1930 SUBTITLE IV - COUNTERVAILING AND ANTIDUMPING DUTIES Part IV - General Provisions 1677. Definitions; special rules For purposes of this subtitle
More informationCHAPTER TWO NATIONAL TREATMENT AND MARKET ACCESS FOR GOODS
CHAPTER TWO NATIONAL TREATMENT AND MARKET ACCESS FOR GOODS SECTION A Common Provisions Article 2.1 Objective The Parties shall progressively and reciprocally liberalise trade in goods over a transitional
More informationAn Analysis: Trade-Related Investment Measures and Vietnamese Law
An Analysis: Trade-Related Investment Measures and Vietnamese Law Prepared by RUSSIN & VECCHI and SIDLEY AUSTIN BROWN & WOOD LLP and U.S.-VIETNAM TRADE COUNCIL EDUCATIONAL FORUM With funding provided by
More informationCHAPTER NINE INVESTMENT. 1. This Chapter shall apply to measures adopted or maintained by a Party related to:
CHAPTER NINE INVESTMENT SECTION A: INVESTMENT ARTICLE 9.1: SCOPE OF APPLICATION 1. This Chapter shall apply to measures adopted or maintained by a Party related to: investors of the other Party; covered
More informationMOST-FAVOURED-NATION TREATMENT PRINCIPLE
Chapter 1: Most-Favoured Nation Treatment Principle CHAPTER 1 MOST-FAVOURED-NATION TREATMENT PRINCIPLE A. OVERVIEW OF RULES 1. BACKGROUND OF THE RULES Most-Favoured-Nation ( MFN ) treatment requires Members
More informationCHAPTER [X] INVESTMENT SECTION X SCOPE
Disclaimer: The negotiations between EU and Japan on Economic Partnership Agreement have not been concluded yet. Therefore, the whole texts are also still under negotiations and not finalised. However,
More informationPreview. Chapter 10. The Political Economy of Trade Policy: international negotiations. International Negotiations of Trade Policy
Chapter 10 The Political Economy of Trade Policy: international negotiations Preview International negotiations of trade policy and the World Trade Organization Preferential Trade Agreements 10-2 International
More informationWT/DS472/R WT/DS497/R
- 305 - Brazil could indeed devise a WTO-consistent rule that is effectively aimed at credit-accumulating companies, to avoid the problem of credit-accumulation. 1604 7.1237. In light of the above, the
More informationBorder Measures: Legal Issues in International Trade
Border Measures: Legal Issues in International Trade For Asia Trade and Climate Change Dialogue Bangkok, 30 April 1 May 2009 by ITD, IISD and ICTSD Chang-fa Lo NTU Chair Professor/Lifetime Distinguished
More informationFREE TRADE AGREEMENT BETWEEN THE EFTA STATES AND MEXICO
FREE TRADE AGREEMENT BETWEEN THE EFTA STATES AND MEXICO SUMMARY The Free Trade Agreement between the EFTA States and Mexico was signed in Mexico City on 27 November 2000 and entered into force on 1 July
More informationPART FIVE INVESTMENT, SERVICES AND RELATED MATTERS. Chapter Eleven. Investment
PART FIVE INVESTMENT, SERVICES AND RELATED MATTERS Chapter Eleven Investment Section A - Investment Article 1101: Scope and Coverage 1. This Chapter applies to measures adopted or maintained by a Party
More informationMOST-FAVOURED-NATION TREATMENT PRINCIPLE
Chapter 1: Most-Favoured Nation Treatment Principle CHAPTER 1 MOST-FAVOURED-NATION TREATMENT PRINCIPLE OVERVIEW OF RULES 1. BACKGROUND OF THE RULES Most-Favoured-Nation ( MFN ) treatment requires Members
More informationCase Studies from WTO Chair Holders
WTO Public Forum, WTO Chairs Programme Session: Case Studies from WTO Chair Holders "Impact of Regional Integration on Inclusive Trade Liberalisation, Competitiveness and Welfare: The Case of Turkey-EU
More informationPART FIVE INVESTMENT, SERVICES AND RELATED MATTERS. Chapter Eleven. Investment
CHAP-11 PART FIVE INVESTMENT, SERVICES AND RELATED MATTERS Chapter Eleven Investment Section A - Investment Article 1101: Scope and Coverage 1. This Chapter applies to measures adopted or maintained by
More informationComparing Dispute Settlement Systems: NAFTA and WTO. CREP Workshop 13 September 2005 Junji Nakagawa (ISS)
Comparing Dispute Settlement Systems: NAFTA and WTO CREP Workshop 13 September 2005 Junji Nakagawa (ISS) Introduction Overlap of jurisdiction between the dispute settlement procedure under an RTA and the
More informationLOCAL CONTENT. Nigeria Petroleum
LOCAL CONTENT Nigeria Petroleum The project 1 - background Resource-rich countries are increasingly inserting requirements for local content ( local content provisions ) into their legal framework, through
More informationU.S. Export Restraints on Crude Oil Violate International Agreements And Are Vulnerable To Challenge
U.S. Export Restraints on Crude Oil Violate International Agreements And Are Vulnerable To Challenge This article summarizes how the current export restrictions on U.S. crude oil are direct violations
More informationSINGAPORE AND COSTA RICA SIGN FREE TRADE AGREEMENT
SINGAPORE AND COSTA RICA SIGN FREE TRADE AGREEMENT SINGAPORE, 6 April 2010 - Singapore and Costa Rica today signed the Singapore-Costa Rica Free Trade Agreement (SCRFTA), strengthening bilateral ties between
More informationTrade Policy Outlook for 2014 The EU Dimension
Trade Policy Outlook for 2014 The EU Dimension Textile & Apparel Importer Trade and Transportation Conference Robert MacLean Partner, Squire Sanders, Brussels New York November 6, 2013 39 Offices in 19
More informationChapter 7 SUBSIDIES AND COUNTERVAILING MEASURES
Chapter 7 SUBSIDIES AND COUNTERVAILING MEASURES 1. OVERVIEW OF RULES (1) Background of rules It has been widely acknowledged since the establishment of the GATT in 1947 that subsidies could be an element
More informationCHAPTER 8 TRADE-RELATED INVESTMENT MEASURES
CHAPTER 8 TRADE-RELATED INVESTMENT MEASURES 1. OVERVIEW OF RULES (1) Trade-Related Investment Measures In the late 1980 s, there was a significant increase in foreign direct investment throughout the world.
More informationSPECIAL & DIFFERENTIAL TREATMENT IN THE WTO
SPECIAL & DIFFERENTIAL TREATMENT IN THE WTO Training Programme for Myanmar, CWS/IIFT, 3 April 2014 Presentation outline The GATT/WTO Framework Development provisions in the GATT/WTO: a chronology Special
More informationUnited States Subsidies on Upland Cotton. Recourse to Article 21.5 of the DSU by Brazil. Third Participant s Submission of Australia
United States Subsidies on Upland Cotton (WT/DS267) Third Participant s Submission of Australia Geneva, Third Participant s Submission of Australia Page 2 TABLE OF CONTENTS TABLE OF CASES...3 INTRODUCTION...5
More information1.5 The General Agreement on Tariffs and Trade (GATT)
1.5 The General Agreement on Tariffs and Trade (GATT) LEARNING OBJECTIVES 1. Learn the basic principles underpinning the GATT. 2. Identify the special provisions and allowable exceptions to the basic principles
More information5. Stabilization Policies and the WTO
5. Stabilization Policies and the WTO Summary Tancrede Voituriez, CIRAD and IDDRI Jean-Pierre Rolland, Arlène Alpha, GRET This paper tackles the question of the compatibility of public market stabilization
More informationCompliance with Article III, GATT - consideration of fiscal/non-fiscal issues for Alcohol Excise in Thailand. Hafiz Choudhury Program Advisor, ITIC
Compliance with Article III, GATT - consideration of fiscal/non-fiscal issues for Alcohol Excise in Thailand Hafiz Choudhury Program Advisor, ITIC Summary 1. Overview of WTO regime - Article III of GATT
More informationSUMMARY OF CONTENTS. Introduction page 1
SUMMARY OF CONTENTS Introduction page 1 part i Foundations 13 1 Objective and forms of non-discrimination 15 2 Particularities of trade in services and GATS 23 3 Legal elements of non-discrimination obligations
More informationLOCAL CONTENT. South Africa Mining & Petroleum
LOCAL CONTENT South Africa Mining & Petroleum The project 1 - background! Resource-rich countries are increasingly inserting requirements for local content ( local content provisions ) into their legal
More informationEconomy Report: Korea
2005/FTA-RTA/WKSP/013 Economy Report: Korea Submitted by: Ms. Hyo-eun Jenny KIM, Korea Workshop on Identifying and Addressing Possible Impacts of RTAs/FTAs Development on APEC Developing Member Economies
More informationTRADE-RELATED INVESTMENT MEASURES
CHAPTER 8 TRADE-RELATED INVESTMENT MEASURES 1. OVERVIEW OF RULES (1) Trade-Related Investment Measures In the late 1980s, there was a significant increase in foreign direct investment throughout the world.
More informationLOCAL CONTENT. Angola Petroleum
LOCAL CONTENT Angola Petroleum The project 1 - background Resource-rich countries are increasingly inserting requirements for local content ( local content provisions ) into their legal framework, through
More informationCONVENTION ESTABLISHING THE EUROPEAN FREE TRADE ASSOCIATION. Consolidated version, last amended on 20 September 2010
CONVENTION ESTABLISHING THE EUROPEAN FREE TRADE ASSOCIATION Consolidated version, last amended on 20 September 2010 THE EUROPEAN FREE TRADE ASSOCIATION 9-11, Rue de Varembé Geneva Convention establishing
More informationInvestment Liberalization: Some Key Elements and Issues in Today s Negotiating Context
Issues in International Investment Law Background Papers for the Developing Country Investment Negotiators Forum Singapore, October 1-2, 2007 Investment Liberalization: Some Key Elements and Issues in
More informationTiSA: Analysis of the EU s Dispute Settlement text July 2016
TiSA: Analysis of the EU s Dispute Settlement text July 2016 (Professor Jane Kelsey, Faculty of Law, University of Auckland, New Zealand, September 2016) The EU proposed a draft chapter on dispute settlement
More informationSpecial Economic Zones as a Trade Facilitation Measure. Asia Pacific Trade Facilitation Forum 2011
Special Economic Zones as a Trade Facilitation Measure Asia Pacific Trade Facilitation Forum 2011 SEZs presentation content: 1. What are SEZs and what role do they play? 2. Experience with SEZs and emerging
More informationAgriculture Subsidies and Trade. US$ Billion
1 Agriculture Subsidies and Trade 600 500 166 US$ Billion 400 300 200 21 378 100 210 0 Total subsidies Total exports Developed countries Developing countries 2 % Average Tariffs 70 60 50 62 40 30 20 29
More informationU.S. Export Restraints on Crude Oil Violate International Agreements And Are Vulnerable To Challenge
U.S. Export Restraints on Crude Oil Violate International Agreements And Are Vulnerable To Challenge This article summarizes how the current export restrictions on U.S. crude oil are direct violations
More informationThinking Outside the Trade Treaty Box Remarks by Scott Sinclair made to the CLC Industrial Policy Conference September 22, 2004
Volume 5 Number 3 November 2004 Thinking Outside the Trade Treaty Box Remarks by Scott Sinclair made to the CLC Industrial Policy Conference September 22, 2004 While trade treaties have limited many of
More informationChina is not a market economy according to EU law. And there is no indication that it will suddenly become a market economy any time soon.
A PRAGMATIC APPROACH TO CHINA MES: WAIT FOR THE WTO TO DECIDE Why mitigating options don t work, the risks of a unilateral interpretation of the Protocol and the key pillars of an effective antidumping
More informationPerspectives on U.S. Agricultural Trade Policy
Perspectives on U.S. Agricultural Trade Policy Organized Symposium: U.S. & Canadian Agricultural Trade Positions: Navigating Trade Issues Parr Rosson Texas A&M University AAEA Annual Meetings Montreal,
More informationNATIONAL TREATMENT AND MARKET ACCESS FOR GOODS. Section A: Scope and coverage. Article. Scope. Article. Objective
NATIONAL TREATMENT AND MARKET ACCESS FOR GOODS Section A: Scope and coverage Scope This Chapter shall apply to trade in goods between the Parties. Objective The Parties shall progressively and reciprocally
More informationTO DETERMINE THE POSITION TO BE ADOPTED BY THE COMMUNITY IN THE CO-OPERATION COUNCIL TO SETTLE THE DISPUTE
COMMISSION OF THE EUROPEAN COMMUNITIES Brussels, 13.11.1998 COM(1998) 624 final 98/0313 (ACC) Proposal for a COUNCIL DECISION TO REFER THE DISPUTE REGARDING THE LAW OF UKRAINE ON THE STIMULATION OF AUTOMOBILE
More information