TRADE RULES: Free Trade Agreements (FTAs) & Bilateral Investment Treaties (BITs) Shalini

Outline ‘WTO-plus’ FTAs: mega regionals Investments & BITs BRICS 14/10/16

‘WTO-plus’ WHY? History: 1948-1986 GATT 1994 NAFTA 1995 WTO Too slow, too little! 14/10/16

WTO Members Total 164 Countries Brazil 1 Jan 1995 India 1 Jan 1995 South Africa 1 Jan 1995 China 11 Dec 2001 Russian Federation 22 Aug 2012 14/10/16

Mega Regional FTAs TPP: 12 Countries – No China RCEP: 16 Countries (ASEAN + 6) BIG Bilaterals: TTIP: USA + EU CETA: Canada + EU 14/10/16

Mega FTAs 14/10/16

Overlaps - RCEP & TPP 14/10/16

LAW-MAKING DENATIONALISED? LEGISLATURE – Statutes/Acts EXECUTIVE - Ordinances, Rules & Regulations JUDICIARY – Court Decisions/Judgments 14/10/16

INVESTMENT Treaties Bilateral Investment Treaties (BITs) MAI in WTO did not materialise Now 2nd Try! (Through BITs) 14/10/16

INVESTOR RIGHTS In ‘BITs 2.0’ Scope determined by definition of INVESTMENT includes intellectual property rights (IPRs) Protection sought by investors – Fair & Equitable Treatment (FET) Against Expropriation For Investor-State Dispute Settlement (ISDS) 14/10/16

BIT by BIT… 2012 onwards review of BITs India’s Model BIT 2015 GoI has terminated 2012 to 2015 South Africa ended 13 BITs with EU Protection of Investment Act, 2105 14/10/16

India’s New BITs Model From asset-based to ‘enterprise’-based No MFN to be granted NT only in ‘like circumstances’ ISDS only after exhausting local remedies Exempted measures: IPR (compulsory licensing), environment protection, public health, etc. 14/10/16

BRICS members & …their intra-regional relations Brazil in MERCUSOR Russia & EEU India & SAARC, as well as RCEP China & RCEP, as well as ASEAN South Africa & SACU 14/10/16

Economic FREEDOM & Community Sovereignty For more: forumagainstFTAs@gmail.com 14/10/16