Part I Investment Treaties and the Settlement of Investment Disputes: The Framework, 1 Bilateral Investment Treaties and Investment Provisions in Preferential Trade Agreements: Recent Developments in Investment Rule-making

2018 ◽  
Author(s):  
Echandi Roberto
Keyword(s):  
Dispute Settlement ◽  
Trade Agreements ◽  
International Investment ◽  
Preferential Trade Agreements ◽  
Preferential Trade ◽  
Investment Protection ◽  
Investment Treaties ◽  
New Generation ◽  
The Impact ◽  
Rule Making

This chapter argues that investment disputes, particularly those that have arisen in the context of the implementation of NAFTA, have influenced the refinement of the provisions of new generation international investment agreements (IIAs) as well as the inclusion of a series of procedural and substantive innovations. It addresses the main distinction between BITs and investment chapters in preferential trade agreements (PTAs), focusing on the evolution of their respective rationales. It looks at the main features of the new generation of IIAs and explains how such features respond to challenges derived from the interpretation of substantive and procedural provisions included in previous agreements. The discussion is organized under two themes: (i) moving from the original exclusive focus on investment protection towards also promoting liberalization of investment flows; and (ii) the impact of investor-state dispute settlement on investment rule-making.

scholarly journals The Two Noble Kinsmen: Internal and Legal Transparency in the WTO and Their Connection to Preferential and Regional Trade Agreements

2016 ◽  
Vol 5 (2) ◽  
pp. 539-569
Author(s):  
Maria Panezi
Keyword(s):  
Decision Making ◽  
Dispute Settlement ◽  
Trade Agreement ◽  
Trade Agreements ◽  
Regional Trade Agreements ◽  
Regional Trade ◽  
Preferential Trade ◽  
Institutional Processes ◽  
Multilateral Trading System ◽  
The Impact

Abstract The proliferation of Preferential Trade Agreements (PTAs) and Regional Trade Agreements (RTAs) has given rise to significant debate on the need to measure, understand and possibly regulate the impact these agreements have on the multilateral trading system under the umbrella of the World Trade Organization (WTO). This article will discuss the two Doha Transparency Mechanisms (legal transparency) regarding regional trade agreements, as they appear in two General Council decisions from 2006 and 2010. I will argue based on a closer look and a consistent interpretation of Paragraph 10 of the Doha Ministerial Declaration that there is another type of transparency that is relevant to the discussion on PTAs/RTAs, namely “internal transparency.” “Internal transparency stricto sensu” highlights the significance of trust in the WTO institutional processes, such as negotiations, decision-making, dispute settlement and trade monitoring that the representatives of developing member states should have in order for the WTO system to function productively. “Internal transparency lato sensu” is introduced in this article as an extension to include any decision-making deficits, exclusionary and asymmetrical outcomes specifically in the area of unchecked Preferential Trade Agreement proliferation. Instead of a conclusion, the article offers some proposals for more a meaningful progress in the WTO with respect to PTAs/RTAs The proposals aim at raising the profile of both legal and internal of transparency and posit that raising the profile of one will inevitably lead in improvements in the other.

Impact of preferential trade agreements (PTAs) on firms’ degree of internationalization

2014 ◽  
Vol 3 (1) ◽  
pp. 54-78
Author(s):  
Sulaman Hafeez Siddiqui ◽  
Muhammad Zafarullah ◽  
Muhammad Ijaz Latif ◽  
Ghulam Shabir
Keyword(s):  
Empirical Data ◽  
Mixed Methods Research ◽  
Inductive Reasoning ◽  
Trade Agreements ◽  
Preferential Trade Agreements ◽  
Firm Level ◽  
Preferential Trade ◽  
Content Type ◽  
Internationalization Strategies ◽  
The Impact

Purpose – The purpose of this paper is to postulate the impact of preferential trade agreements (PTAs) on internationalization strategies of member countries’ firms. The study also aims to triangulate the proposed model using empirical data from PTA partner economies. Design/methodology/approach – The mixed methods research design is used for the purpose of inquiry as suggested by Creswell. The inductive reasoning based on critical literature review and grounded theory methodology is used to postulate the model. Explanatory strength of the model is triangulated using empirical longitudinal trade data of Pakistan with her bilateral PTA partners, i.e. Malaysia, Mauritius, Iran, Sri Lanka and China. Internationalization indices are adapted following the Ietto-Gillies and London (2009) and Petri (1994) to measure the intensity and geographical diversification dimensions of internationalization. Country-level trade statistics are used as a proxy of firm-level data to explain the international expansion of home firms resulting from PTAs. Findings – Empirical results confirm a strong and long-term impact of PTAs on the intensity and extensity dimensions of internationalization over post-agreement period in Pakistan and member economies. Gravity index depicts greater concentration of Pakistan's trade in FTA markets and thereby confirms the influence of PTAs on international market selection. Analysis at sectoral level depicts a contraction in services trade whereas expansion in the manufacturing firms’ export growth to member economies. Originality/value – The paper extends the theory of internationalization by identifying PTAs as exogenous variable influencing internationalization strategies of member countries’ firms in a developing South Asian context. Coupled with findings from empirical data, the study identifies PTAs as a new strategic trade policy tool available to policy makers for promoting and influencing the home firms’ internationalization strategies.

scholarly journals Services liberalization in the new generation of preferential trade agreements (PTAs): how much further than the GATS?

2007 ◽  
Vol 6 (2) ◽  
pp. 155-192 ◽  
Author(s):  
MARTIN ROY ◽  
JUAN MARCHETTI ◽  
HOE LIM
Keyword(s):  
Active Role ◽  
Trade Agreements ◽  
The United States ◽  
Preferential Trade Agreements ◽  
Economic Costs ◽  
Comprehensive Overview ◽  
Preferential Trade ◽  
Mode 3 ◽  
New Generation

AbstractThis paper attempts to fill a gap in the trade literature by providing a comprehensive overview of services liberalization commitments in the new generation of preferential trade agreements (PTAs) as compared to prevailing GATS commitments and Doha Round offers. The paper reviews the commitments undertaken by 36 WTO Members (counting the EC as one) under mode 1 (cross-border supply) and mode 3 (commercial presence) in 32 PTAs negotiated since 2000. Among other things, the results suggest that, overall, PTA commitments tend to go significantly beyond GATS offers. Countries that have signed PTAs with the United States have made spectacular improvements, but GATS+ commitments are not limited to such agreements. The paper also discusses the potential economic costs arising from these preferential agreements and implications for the role of GATS and for multilateral services negotiations. The paper concludes by exploring possible approaches to overcome the downsides of services PTAs, including suggestions for a more pro-active role for the WTO in the surveillance of these agreements.

scholarly journals A BIT Is Better Than a Lot: Bilateral Investment Treaties and Preferential Trade Agreements

2009 ◽  
Vol 62 (1) ◽  
pp. 1-42 ◽  
Author(s):  
Jennifer L. Tobin ◽  
Marc L. Busch
Keyword(s):  
Developing Country ◽  
Global Economy ◽  
Trade Agreements ◽  
Developed Countries ◽  
Preferential Trade Agreements ◽  
Annual Data ◽  
Bilateral Investment Treaties ◽  
Preferential Trade ◽  
Investment Treaties ◽  
Better Than

The landscape of the global economy is dotted with institutions that regulate investment and trade. In recent years, the number of bilateral investment treaties (BITs) and preferential trade agreements (PTAs), in particular, has grown at a torrid pace; practically every country is a member of at least one—if not many—of these institutions. For all the scholarly attention that these institutions have received, however, there is little research tying BITs and PTAs together. This is surprising, since both aim to increase commerce by making it more predictable. The authors seek to fill this gap in the literature. They argue that a BIT between a developed and a developing country should make it more likely that this pair of states will subsequently form a PTA. That said, the wrinkle in the story is that more is not better in this regard; the authors further argue that a developing country that has many BITs is less likely to conclude a PTA with a wealthy state. The authors test these hypotheses using annual data on pairs of developing and developed countries between 1960 and 2004 and find strong evidence in support of their argument.

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