MULTINATIONAL INSTRUMENTS ON FOREIGN INVESTMENT

The United nations (UN) The Havana Charter of 1948: never came into effect; International Trade Organization: never came into existence; 1959 Abs-Shawcross Draft Convention on Investment Abroad: not adopted; 1967 Draft Convention on the Protection of Foreign Property: not adopted; The UN Declaration on Permanent Sovereignty over Natural Resources: doctrine of economic sovereignty New International Economic Order: UN GA Resolution 3201 & 3202 The 1974 Charter of Economic Rights and Duties of States: Resolution 3281 The UN Draft Code of Conduct for Transnational Corporations

The world bank (wb) 1965 International Convention on the Settlement of Investment Disputes (ICSID) - ran counter to the ideas behind the Calvo doctrine and the New International Economic Order 1985 Convention Establishing the Multilateral Investment Guarantee Agency (MIGA) - Risks covered: currency transfer, expropriation and similar measures; breach of contract; war and civil disturbance 1992 Guidelines on the Treatment of Foreign Direct Investment - Primarily with a view to protecting foreign investment, without the provisions on the conduct of foreign investors

The World Trade Organization (WTO) Agreement on Trade-Related Investment Measures (TRIMs) - Uruguay round of multilateral trade negotiations; - National Treatment: Art. III, GATT - Quantitative Restrictions: Art. XI, GATT - TRIMs & GATS, TRIPS, and the plurilateral Agreement on Government Procurement Doha Ministerial Conference in 2001 Q: GATT – an appropriate forum for discussing investment policy? How about UNCTAD? Or, the WB? The OECD? Or, a WIO?

The organization for economic cooperation and development (OECD) 1962 Draft Convention on the Protection of Foreign Property 1976 Declaration of the OECD on International Investment and Multinational Enterprises: Guidelines for Multilateral Enterprises 1998 Multilateral Agreement on Investment (MAI) - set high standard for the treatment and protection of investment - stipulated little in terms of the conduct of foreign investors themselves 2000 The new OECD Guidelines - sustainable development, protect the environment, respect human rights; - established policies in the countries; - abstain from any improper involvement in local political activities.

The international labour organization (ILO) The ILO’s Guidelines Tripartite Declaration of Principles concerning Multinational Enterprises and Social Policy - amended in 2000

Global Compact of the UN Human Rights Labour Standards Environment Anti-corruption Thinking: International Investment Law & International Human Rights Law & International Environmental law?

Open discussions Different groups of balances within the international investment law -H-Host Country v Home Country -D-Developing Countries v Developed Countries -P-Protection for foreign investment v Sovereignty of the host country Key words -P-Protection -S-Sovereignty -N-Nationalization and Expropriation -M-Multinational Corporations