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WTO, Trade and Investment

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Abstract

International trade and investment are co-related, and the last decade has seen a dramatic increase in foreign direct investment (FDI), defined as ownership and control of a business or a part of a business in another country.

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Notes

  1. 1.

    N. Grimwade, International Trade: New Patterns of Trade, Production and Investment 144 (London: Routledge, 1989).

  2. 2.

    E. Graham and M. Ebert, ‘Foreign Direct Investment and the U.S. National Security:Fixing Exon- Florio’ (1991) (14) 245 World Economy; See also, R Kuttner, The End of Laissez Faire: National Purpose and the Global Economy After the Cold War, (New York: Knopt, 1991).

  3. 3.

    See S. Ostry, ‘Globalisation; Domestic Policies and the Need for Harmonisation, Centre for Study of Business and Public Policy’, 12–18 (University of California, Santa Barbara January 1993).

  4. 4.

    A.K. Koul, ‘Multinational Corporations; Bonanza or a Source of illusion for the Developing Countries Economies’, (2), 10–30 Review of Contemporary Law, Brussels (1981); See also A. Rugman, Inside the Multinational, The Economics of Internal Markets (New York: Columbia University Press, 1981).

  5. 5.

    See A.J. Easson, ‘The Design of the Incentives for Direct Investment; Some Lessons from the ASEAN Countries’, International Business of Tax Law Programme, (University of Toronto, 1993).

  6. 6.

    OECD, Investment Incentives and Disincentives (Paris: OECD, 1989).

  7. 7.

    See UN Conference on Trade and Employment, held at Havana, Cuba from 21 November 1947 to 24 March 1948, Final Act and Related Documents (Lake Success, N.Y. Interim Commission for the International Trade Organisation, 1948), UN Doc. E/Conf. 2/78); See also Clair Wilcox, A Charter for World Trade, 145–46 (1949).

  8. 8.

    See generally, Richard B. Lillich and Burns Weston eds, The valuation of Nationalised Property in International Law(Weston eds. 1972); Richard B. Lillich, The Protection of Foreign Investment: Six Procedural Issues (1956).

  9. 9.

    The figures are based on the Collection of BITS by the International Centre for the Settlement of Investment Disputes (ICSID).

  10. 10.

    George Berman, Roger J. Goebel, William J. Davey, and Eleanor M. Fox, European Union Law,451 (2002).

  11. 11.

    Metalclad Corporation versus United Mexican States, Final Award, 30 Aug. (2000), para. 99 ICSID case No. ARB (AF) 197/1.

  12. 12.

    Asian Agricultural Produces Ltd. versus Republic of Sri Lanka, Award of 27 June, (1990), paras. 85–6; 30 I.L.M. 577 (1991), 41 CSID Rep. 246. (1997).

  13. 13.

    See Andreas F. Lowenfeld. International Economic Law, Ch. 15, (Oxford University Press 2000).

  14. 14.

    Article 5(3) of the Agreement Concerning the Encouragement and Reciprocal Protection of Investment Between Japan and China, done at Beijing 27 Aug. 1989. Reproduced in 28, 1. L.M. 575 (1989).

  15. 15.

    Supra note 13, pp. 476–493.

  16. 16.

    See 575 U.N.T.S.159, entered in force 16 October (1966).

  17. 17.

    For a detailed history, See, Ibrahim Shihata, MIGA and Foreign Investment: Origins, Operations, Policies and Basic Documents of the Multilateral Investment Guarantee Agency (1988).

  18. 18.

    Convention Establishing the Multilateral Investment Guarantee Convention, 1508 U.N.T.S. 99.

  19. 19.

    Article 11, MIGA.

  20. 20.

    Article 13, MIGA.

  21. 21.

    Article 23, MIGA.

  22. 22.

    Article 11(a)(11), MIGA.

  23. 23.

    Article 11(a)(iii), MIGA.

  24. 24.

    575 U.N.T.S. 159 entered into force 16 October 1966.

  25. 25.

    Article 67, ICSID Convention.

  26. 26.

    Article 25(1), ICSID Convention.

  27. 27.

    Article 27(1), ICSID Convention.

  28. 28.

    Article 42 (1), ICSID Convention.

  29. 29.

    Aron Brouchs, ‘The Convention on the Settlement of Investment Disputes’, 136 Recueil de cours 33 [Hague Academy of International Law (1972)].

  30. 30.

    Ministerial statement of the Multilateral Agreement on Investment, Paris 17–26 May 1997, 45 SG/COM/NEWS (97).

  31. 31.

    OECD, A Multilateral Agreement on Investment, Report by the Committee on International Investment and Multinational Enterprises (CIME) and the Committee on Capital Movements and Invisible Transactions (CIMT), 65 OECD/GD/(95) (Paris 1995).

  32. 32.

    See generally, Kenneth W. Dam, The Rules of the Global Game, 175(2001); Michael J. Trebilcock and Robert Howse, The Regulation of International Trade, 363 (2nd ed.,1999).

  33. 33.

    Matalclad Corporation vs. United Mexican States, 40 I.L.M. 36 (2001) in which damages were awarded when company investment was in hazardous waste treatment facility approved by the Federal Government of Mexico which was latter blocked by local Mexican authorities; See also, Environmentalists’ letters on MAI, 13 February 1997 reprinted in Inside U.S. Trade, 21 February 1997 Article 12–13.

  34. 34.

    See generally, Yoshi Kodama, ‘the Multilateral Agreement on Investment and its Legal Implications for Newly Industrialising Economies’, 32(4) JWT 22–39 (1998).

  35. 35.

    A.K. Koul, ‘The Code of Conduct on Transfer of Technology; An Analysis in Legal Perspective’, 141–162 Foreign Trade Review, (1985).

  36. 36.

    Report of The Consultative Group of Eighteen, Doc. No. L5210, reprinted in GATT BISD 28th September 75–76 (1982).

  37. 37.

    See submission by the U.S., Doc. MTN. GNG/NG12/W/1, W/2, W/4, W/5, W/6, W/11, W/14, W/15 and W/24.

  38. 38.

    See submission by the EC, Documents MTN. GNG/NG 12.

  39. 39.

    Doc. MTN. GNG/Ng12/4, pp. 11–12.

  40. 40.

    See Submission by Malaysia, Singapore, India, Mexico and Bangladesh-MTN.GNG/NG12/W/13,17,18,19 and 21.

  41. 41.

    Indonesia—Certain Measures Affecting the Automobile Industry, Panel Report, 23 July 1998, DSR 1998: VI, para. 14.73.

  42. 42.

    Ibid.

  43. 43.

    Ibid.

  44. 44.

    Article 3.

  45. 45.

    Supra note 41, para. 14.60–14.61.

  46. 46.

    Ibid. 14.62–14.63.

  47. 47.

    Ibid.

  48. 48.

    Ibid, para. 14.91–14.92.

  49. 49.

    Article 4.

  50. 50.

    BISD 265/205-209.

  51. 51.

    Article 5.

  52. 52.

    Annex I of the Agreement.

  53. 53.

    Article 6.

  54. 54.

    Article 7.

  55. 55.

    European Communities—Regime for the Importation, Sale and Distribution of Bananas, Panel Report, WT/DS 27/R ECU and Corr. I, Adopted 06 May 1999, DSR 1999: 11.

  56. 56.

    Indonesia—Certain Measures Affecting the Automobile Industry, Panel Report, adopted 23 July 1998, DSR 1999: VI; Indonesia Certain Measures Affecting the Automobile Industry-Arbitration under Article 21.2(c) of the DSU, 07 December 1998, DSR 1998: IX.

  57. 57.

    Canada—Certain Measures Affecting the Automobile Industry Panel Report, WT/DS/39/R, WT/DS/42/R, Adopted 19 June, 2000 as modified by the Appellate Body Report WT/DS/139/ARB/R,WT/DS/42/AB/R.

  58. 58.

    WT/DS/46/R, (2000) and WT/DS175/R (2000); For India’s Policy in this respect, See WT/TPR/100 (2002).

  59. 59.

    G/C/M/41, Sect. 7.

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  1. National University of Study and Research, Ranchi, India

    Autar Krishen Koul

  2. National Law University, Jodhpur, India

    Autar Krishen Koul

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Koul, A.K. (2018). WTO, Trade and Investment. In: Guide to the WTO and GATT. Springer, Singapore. https://doi.org/10.1007/978-981-13-2089-7_32

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