IEG Co-Convenors Summary Report to CTI

Transcription

1 2016/SOM3/CTI/054 Agenda Item: 10 IEG Co-Convenors Summary Report to CTI Purpose: Consideration Submitted by: IEG Convenor Third Committee on Trade and Investment Meeting Lima, Peru August 2016

2 IEG CO-CONVENORS SUMMARY REPORT TO CTI Investment Expert Group (IEG) held its second meeting (IEG2) for 2016 at Lima Convention Center in Lima, Peru on August 2016, prior to IEG2, IEG convened Investment Policy Dialogue, in the theme of Approaches to Management of Foreign Investment to share experience amongst APEC investment policy-makers and regulators, initiated by Australia in the morning of 15 August. The IEG meeting was attended by delegates from 13 Member Economies and three guests (UNCTAD (remote participation), WEF and University of Buenos Aires) as well as PECC as official observer of IEG. 1. IMPLEMENTATION (including key developments since last meeting) OF 2016 WORK PLANS WITH PARTICULAR REFERENCE TO APEC LEADERS/ MINISTERS/SOM DECISIONS OF 2015: A) SUPPORT THE MULTILATERAL TRADING SYSTEM The meeting received a summary update from UNCTAD on International Investment Agreements (IIAs) issues and IIA Reform (taking stock and charting the way forward) as well as Investor- State Dispute Settlement (ISDS) and highlights from decisions rendered in 2016 (IIA Issues Note), substantial discussions were followed and continuous cooperation on these areas were confirmed by the members. Study on international investment law was introduced by WEF and University of Buenos Aires at IEG2, which can give potential outcomes in collaboration among members and external stakeholders. B) ADVANCING REGIONAL ECONOMIC INTEGRATION Exploring an FTAAP The significance of active discussions and reviewing existing analytical work on investment issues relevant to FTAAP Study was confirmed. Global Value Chain Cooperation IEG received introduction form Japan on its CTI project, the Improving the investment climate for GVCs Development under APEC Strategic Blueprint for Promoting Global Value Chains Development and Cooperation as well as Study on Enhancement of Integration of Regional Value Chains in Asia and Latin America and the Caribbean, and Japan asked the members active participation to the activities. Investment Australia, based on the members agreement in IEG1 in 2016, hosted the APEC Investment Policy Dialogue on Foreign Direct Investment (FDI) under IEG1 for following objectives: - To provide IEG members with an opportunity to learn about different approaches to managing foreign investment in select APEC economies. - To generate a menu of policy options for consideration by economies pursuing reform. These options will feed into a report containing case studies to be submitted to CTI, with a

3 view to potentially delivering a specific action (or deliverable) under IFAP. IEG endorsed the self-funded project formulated by The Philippines (in collaboration with ADB) named Inclusive Business in APEC Study. IEG received the updates from Peru on Recent developments on policy and guidelines for Public Private Partnerships; which is a good showcase of the PPP model in the APEC region for other member economies. Peru also updated their recent infrastructure investment. IEG received the report from Indonesia on its status of the published Guidebook on PPP Frameworks in the APEC Region. The members confirmed to work on updates on this for completion of revised Guidebook hopefully before IEG1 in IEG confirmed the progress on the Investment Facilitation Action Plan (IFAP) as follows: - Based on the agreement by the members at IEG1, 2015, the members nominated for specific actions (taken in ) as Implementing Economy (2-3 for each economies) in May (17 Implementing Economies (out of 21) were specified.) - Implementing economies submitted their details of implementation by 30 July Six of implementing economies reported their nominating actions at IEG2, PSU made a small assessment on those reports at the meeting. - IEG Co-Convenors requested PSU to assess the outcomes of discussions and reports by IEG members at IEG 2 and PSU targets to submit the report at IEG 1 in C) STRENGTHING COMPREHENSIVE CONNECTIVITY AND INFRASTRUCTURE DEVELOPMENT D) EXPANDING REGULATORY COOPERATION AND ADVANCING REGULATORY CONVERGENCE Good Regulatory Practice E) PROMOTING INNOVATIVE DEVELOPMENT, ECONOMIC REFORM, QUALITY GROWTH; CONTRIBUTIONS TO OTHER CROSS- CUTTING INITIATIVES Quality Growth The members confirmed to work in alignment with APEC Strategy for Strengthening Quality Growth, and contribute to its repository works starting from ACTIVITIES WITH ABAC (INCLUDING RESPONSES TO ABAC S 2015 RECOMMENDATIONS) AND/OR OTHER EXTERNAL STAKEHOLDERS: INTERACTION WITH BUSINESS IEG received from ABAC on RIAG Workshop on Indicator Based Investment Climate Assessment in APEC Economies including the case studies of Chile, Viet Nam, Peru and Malaysia as well as overview of the FDI in APEC region. IEG received comprehensive analytical report on investment trends in APEC region.

4 It was confirmed that IEG should have closer collaboration with external stakeholders including ABAC, OECD, UNCTAD, WEF and ADB for exchanging views and analysis each other. 3. NEW COLLECTIVE ACTIONS AGREED/PLANNED IEG endorsed the Collective Action Plan (CAP) 2016 (Annex). 4. FORECAST OF TILF OUTCOMES/DELIVERABLES FOR 2016 TILF Deliverables for 2016(attachment 1). 5. DECISION POINTS NEEDED FROM CTI Endorse the IEG Convener s Summary Report. Endorse the Terms of Reference (TOR) of IEG (attachment 2). Endorse the new IEG Convenor, Mr. Maxim Berdichevsky of Canada, for next 3 years term (starting after SOM3, 2016), who was approved by IEG members at IEG2, 2016.

5 (ANNEX) Collective Action Plan 2016 for Investment Action Steps to Implement Time Frame Transparency Short-Term A. Increase the transparency of APEC Investment regimes, especially via enhanced e-transparency Policy Dialogue Short-Term B. Promote dialogue with the APEC business community on ways to improve the APEC investment environment 1. Promote accessibility and transparency in the formulation and administration of investmentrelated policies: a) Update the e-portal to replace the hard copy publication the APEC Investment Guidebook b) Have APEC Public-Private Dialogues on Investment to enhance Transparency and involvement of Private Sector. IEG PPD: Fostering SME Growth through Inclusive Business (Philippines) 2. Establishing software networks on investment regulation and investment opportunities a) Explore ways to improve the state of statistical reporting and data collection b) Establish a single window or special enquiry point for all enquiries concerning investment policies and applications to invest c) Adopt a centralised registry of laws and regulations and make this available electronically. d) Apply new technology to improve information, application and approvals processes 1. Have APEC Public-Private Dialogues on Investment with Business sector including ABAC to enhance Transparency and involvement of Private Sector. See A. 1. b) 2. Maintain regular contact with ABAC and other relevant business organizations including: a) Discuss at IEG meeting issues of relevance to IEG raised at ABAC s meetings and ABAC s recommendations to Leaders in the previous year. b) Consider possible joint projects suggested by IEG or business organizations. 3. Request input from ABAC on major APEC investment initiatives including through

6 Action Steps to Implement Time Frame participation at IEG meetings, ABAC letters to IEG Convenor and other IEG events such as workshops, seminars, or investment symposia. C. Continue dialogue with appropriate international organizations dealing with global and regional investment issues Study and Evaluation Short-Term D. Undertake an evaluation of the role of investment liberalization and facilitation in strengthening regional economic integration in the Asia-Pacific region for economic growth and development. E. Studypossible core elements between existing sub-regional arrangements relevant to investment F. Refine APEC s understanding of free and open investment Medium & Long-Term G. Assess the merits of developing an APECwide discipline on investment in the light of APEC s own progress through the mediumterm, as well as developments in other international forums H. Study the advantages 4. Investment Policy Dialoguesharing experience amongst APEC investment policy-makers and regulators (among IEG members) 1. Establish a policy dialogue process and collaboration with other international organisations on current and emerging international investment issues, where appropriate. Consider extent to which existing peer review mechanisms assist in meeting APEC s strengthening regional economic integration objectives and options for improvement. Review the investment provisions of current subregional arrangements including RTAs/FTAs, and identify possible core elements, including the relationships between these provisions. In the context of the 2012 progress assessment of the Bogor Goals, assess the recommendations of Leaders as far as investment liberalization and facilitation and as necessary developing a new work program. Take into account Leaders Declarations since then. Strengthen the use of quantitative indicators for improving understanding of APEC economy investment climatesincluding consideration of reports from the Regional Investment Analytical Group (RIAG) and ABAC. To be determined in the light of progress with policy dialogue in the medium-term. Where feasible, contribute to SOM studies on ways Commenced at IEG2 in August

7 Action Steps to Implement Time Frame and disadvantages of creating investment rules bilateral, regional, or multilateral with a view to fostering a more favorable investment environment in the Asia- Pacific region Facilitation Short-Term and Continuing I. Undertake practical facilitation initiatives by: and means to promote regional economic integration, particularly investment issues as they relate to : Identifying Convergences and Divergences in APEC s RTAs/FTAs (i) Implement the Investment Facilitation Action Plan (ii) Progressively work towards reducing impediments to investments (iii) Initiating investment facilitation activities to enhance investment flows within APEC economies (iv) Implement the Non- Binding Investment Principles Implement its underlying eight principles with broad menu of actions. Focus on the priority actions endorsed for Report on IFAP progress in annually. Implement the principles identified through the IFAP process to promote further investment facilitation according to APEC Strategy for Investment. Implement activities under APEC Strategy for Investment. (See Section K.) Discuss the necessity of more regular updates on NBIPs and work for further implementation Economic and Technical Cooperation Short-Term J. Identify ongoing technical cooperation and capacity building needs in the Asia- Pacific region and organize training programs which will assist APEC economies in fulfilling APEC investment objectives. CapacityBuilding Initiatives K. Undertake new activities that contribute to 1. Share successful experiences of APEC economies in investment liberalization, facilitation and promotion in the APEC region through identifying key success factors including improved policies. 2. Enhance planning, development and implementation of policies concerning international investment rules. Identify the elements of capacity building to strengthen the economies of APEC member economies and undertake the following activitiescategorizing 3 pillars under APEC Strategy for Investment

8 Action Steps to Implement Time Frame capacity building. 1. Advanced Principles and Practices 2. Facilitation Enhancing the Investment Environment in APEC and ASEAN Economies (Australia) Receive and consider inputs from the Regional Investment Analytical Group (RIAG) through ABAC 3. Promotion Guidebook on PPP Frameworks in the APEC Region (Indonesia), IEG members to update. Menu of Options L. improvements to the Menu of Options. Cross-reference between the IAPs and Menu of Options.