Towards an Asia-Pacific Regional Investment Regime

2019 ◽  
pp. 258-289
Author(s):  
Amokura Kawharu ◽  
Luke Nottage
Keyword(s):  
New Zealand ◽  
Dispute Settlement ◽  
Local Politics ◽  
Asia Pacific ◽  
The European Union ◽  
Future Design ◽  
Investment Treaties ◽  
Economic Partnership ◽  
Regional Comprehensive Economic Partnership ◽  
New Generation

Many similarities and occasional differences are evident concerning the current approaches of Australia and New Zealand towards investment treaties, including the now politically sensitive issue of investor–state dispute settlement (ISDS). This chapter considers the potential of these two closely integrated countries to influence the future design of investment treaties in the Asia Pacific region, including for the Regional Comprehensive Economic Partnership (RCEP or ‘ASEAN+6’ agreement) – the negotiations for which include China. The chapter compares key areas of existing treaties already signed by Australia and New Zealand, as well as apparent positions set out by them in a leaked draft RCEP investment chapter. Given the concerns about US–style treaty drafting displayed recently by Indonesia and India, major economies still negotiating RCEP with Australia and New Zealand (as well as bilateral agreements with the former), the chapter also considers the scope for Australia and New Zealand to promote more pro-state provisions regarding both substantive commitments and procedures such as ISDS, which characterize contemporary preferences of the European Union. The chapter concludes that a transition to a new generation of treaties is likely not only given the evolving preferences of counterparties and local politics, but also because of various policy arguments for dialing back treaty commitments to foreign investors—albeit without eschewing them altogether.

Introduction

Asian Survey ◽  
2016 ◽  
Vol 56 (6) ◽  
pp. 1005-1016 ◽  
Author(s):  
Vinod K. Aggarwal
Keyword(s):  
Asia Pacific ◽  
Political Resistance ◽  
Special Issue ◽  
Geographical Regions ◽  
Economic Partnership ◽  
Regional Comprehensive Economic Partnership

This special issue focuses on the rise of mega-FTAs—which involve efforts to liberalize trade across geographical regions with a multiplicity of countries—in the Asia-Pacific. We examine how the Trans-Pacific Partnership and the Regional Comprehensive Economic Partnership in this region have faced political resistance as negotiators attempt to address behind-the-border issues.

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.

Comparing the Economic Impact of the Trans-Pacific Partnership and the Regional Comprehensive Economic Partnership

2013 ◽  
Vol 12 (2) ◽  
pp. 144-164 ◽  
Author(s):  
Inkyo Cheong ◽  
Jose Tongzon
Keyword(s):  
Economic Impact ◽  
Economic Integration ◽  
Computable General Equilibrium ◽  
Trade Agreement ◽  
The United States ◽  
Computable General Equilibrium Model ◽  
Asia Pacific ◽  
Economic Partnership ◽  
Asean Countries ◽  
Regional Comprehensive Economic Partnership

Several initiatives have emerged for regional economic integration in the Asia-Pacific region. The United States has led the negotiations for the Trans-Pacific Partnership agreement, and ASEAN countries have recently started to promote the Regional Comprehensive Economic Partnership. This paper estimates the net economic impact of these initiatives by eliminating the overlapping portions of free trade agreement–related economic gains through the use of a dynamic computable general equilibrium model. The paper analyzes the economic and political feasibility of these two initiatives and assesses their economic impacts. Finally, the paper provides implications for economic integration in East Asia based on a quantitative assessment.

Is It Finally Time for India's Free Trade Agreements? The ASEAN “Present” and the RCEP “Future”

2019 ◽  
Vol 9 (2) ◽  
pp. 359-391 ◽  
Author(s):  
Debashis CHAKRABORTY ◽  
Julien CHAISSE ◽  
Xu QIAN
Keyword(s):  
Asia Pacific ◽  
Trade Patterns ◽  
Trade Reforms ◽  
Trade Law ◽  
International Trade Law ◽  
Slow Progress ◽  
Promotion Strategies ◽  
Economic Partnership ◽  
Trade Route ◽  
Regional Comprehensive Economic Partnership

AbstractSince the inception of the WTO in 1995, India enthusiastically explored export-promotion strategies through multilateral trade reforms. However, the country has moved towards the regional trade route since 2004, primarily owing to the slow progress of the Doha Round negotiations. As a result, the whole architecture of international trade law and governance is being redesigned in the Asia Pacific region. This paper focuses on the pivotal role played by India in this rebalancing. Given the stress on services exports and investment requirements, India focused on entering into comprehensive agreements encompassing merchandise and services trade as well as investment provisions. Presently, India is involved in the ongoing Regional Comprehensive Economic Partnership [RCEP] negotiations, where ASEAN remains at the core. The current analysis evaluates the Indo-ASEAN trade patterns and evolving dynamics over the last decade through select trade indices, and comments on the future of the RCEP.

Shaping new interregionalism: The EU-Singapore Free Trade Agreement and beyond

2021 ◽  
pp. 1-26
Author(s):  
Pasha L. Hsieh
Keyword(s):  
Free Trade ◽  
Free Trade Agreement ◽  
Trade Agreement ◽  
Theoretical Concept ◽  
Asia Pacific ◽  
The European Union ◽  
Normative Development ◽  
Asean Country ◽  
New Generation ◽  
The Eu

Abstract The article examines the theoretical concept of interregionalism in the context of the evolving framework between the European Union (EU) and the Association of Southeast Asian Nations (ASEAN). As the EU’s first free trade agreement (FTA) with an ASEAN country, the EU-Singapore FTA is a pathfinder agreement that signifies a new phase of interregionalism and the EU’s new Asia strategy after the Treaty of Lisbon. The article argues that the innovative designs of the EU-Singapore FTA will shape the normative development of EU-ASEAN relations in the post-pandemic era. It also cautions that a comparative analysis of EU and US agreements reveals deficiencies in the FTA that require remedies. To buttress the contention, key provisions on ASEAN cumulative rules of origin, banking and legal services and non-tariff barriers are analysed in light of contemporary Asian agreements. The research further provides insight into the effectiveness of new-generation rules on geographical indications, competition, and investor-state arbitration and mediation. Hence, the findings contribute to the understanding of interregionalism and the EU’s Asia-Pacific trade and investment agreements from global and interdisciplinary perspectives.

Amicus Curiae Intervention in China-ASEAN Investment Disputes: Rationale, Dilemmas and Reform Path

China Report ◽  
2021 ◽  
Vol 57 (2) ◽  
pp. 151-168
Author(s):  
Xinglong Yang
Keyword(s):  
Dispute Settlement ◽  
Free Trade Area ◽  
Amicus Curiae ◽  
Trade Area ◽  
Economic Partnership ◽  
Asean Countries ◽  
Dispute Settlement System ◽  
Regional Comprehensive Economic Partnership ◽  
Main Criticism ◽  
Investment Agreements

One main criticism levelled against the investor-state dispute settlement system (ISDS) is the existence of limited opportunities for amicus intervention. Against this backdrop, this article firstly studies what reforms regarding amicus intervention in ISDS proceedings have been put forward by China and ASEAN countries and the relevant dilemmas. Subsequently, to ensure that maximum benefits can be realised from amicus participation in ISDS proceedings in China-ASEAN Free Trade Area (CAFTA), this article proposes procedures for when and how an amicus may participate in arbitral proceedings under the upcoming investment agreements, particularly the Regional Comprehensive Economic Partnership (RCEP). Additionally, given the fact that the level of amicus participation in ISDS proceedings is still limited, the article suggests that China and ASEAN need to establish safeguards to provide amici with access to key arbitral documents and oral hearings. However, achieving the above objectives should not come at the expense of undermining the confidential and protected information of both disputing parties.

scholarly journals East Asia’s Engagement with Cosmopolitan Ideals Under its Trade Treaty Dispute Provisions

2011 ◽  
Vol 56 (4) ◽  
pp. 821-862 ◽  
Author(s):  
Chin Leng Lim
Keyword(s):  
Dispute Settlement ◽  
East Asian ◽  
Asia Pacific ◽  
Open Approach ◽  
Trade Disputes ◽  
Trade Dispute ◽  
Trade Law ◽  
Trading Partners ◽  
Economic Partnership ◽  
Partnership Agreement

An East Asian view about how trade dispute settlement systems should be designed is slowly emerging. Democratically-inspired trade law scholarship and cultural explanations of the international law behaviour of the Southeast and Northeast Asian trading nations have failed to capture or prescribe the actual treaty behaviour of these nations. Instead, such behaviour has resulted in the emergence of two different treaty models for the peaceful settlement of trade disputes. The first, which seems firmly established, may be found in ASEAN’s 2004 dispute settlement protocol and the regimes established under the China-ASEAN, Korea-ASEAN, Japan-ASEAN, and ASEAN-Australia-New Zealand FTAs. A second model, based on the Trans-Pacific Strategic Economic Partnership Agreement, could in time become an alternative model for an Asia-Pacific-wide FTA (i.e., including the East Asian nations within it). It adopts a more open approach; one which better accommodates greater transparency in dispute proceedings. At least for now, the two models coexist, obviating the need for East Asia’s legal policy-makers to choose a clear, dominant design for treaty-based trade dispute settlement in the region. But it also means that East Asia’s trading partners can influence East Asian nations, at least in those trade agreements that—like the Trans-Pacific Partnership Agreement—involve negotiations with trans-continental partners.

Is RCEP a Panacea for India?

2021 ◽  
pp. 001946622199862
Author(s):  
Rajat Deb
Keyword(s):  
European Union ◽  
The United States ◽  
Jel Classification ◽  
The Political ◽  
The European Union ◽  
Foreign Investments ◽  
Pull Out ◽  
Short Run ◽  
Economic Partnership ◽  
Regional Comprehensive Economic Partnership

The successful integration and development strategies of East Asia and Southeast Asia in the forms of regional integrations such as the ASEAN have motivated to convert these into mega regional groups that is, the formation of the regional comprehensive economic partnership (RCEP). RCEP has remained under discussion in the political forums since 2012 which had reached its crucial phase but India had refused to sign the pact in the Bangkok summit on 4 November 2019. India’s decision to pull out from the RCEP has likely protected her domestic sectors from the Chinese aggressive dumping, but it could adversely impact foreign investments and bargaining powers with the United States and the European Union in the short run. JEL Classification Codes: P25, R11

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