World Investment Report 2009: Transnational Corporations - Unctad

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CHAPTER I 33 �� Figure I.21. Number of BITs and DTTs concluded, annual and cumulative, 1999–2008 �� Source: UNCTAD (www.unctad.org/iia). �� EU law. Such a tendency has already emerged with respect to the introduction of new model BITs, and might be strengthened in light of the current global financial and economic crisis (see section 2.e). With respect to a possible increase in investment protectionism in response to the financial crisis, IIAs have a role to play in ensuring predictability, stability and transparency of national investment regimes. Policymakers should also consider strengthening the investment promotion dimension of IIAs through effective and operational provisions. Investment insurance and other home-country measures encouraging outward investment are cases in point where continued international cooperation can be useful. b. Double taxation treaties In 2008, 75 new DTTs were concluded, bringing the total to 2,805 (figure I.21). Developed countries were parties to 63 of these new DTTs, and 18 of them were concluded between developed countries only. Ireland and the Netherlands were the most active, each concluding six DTTs in 2008. Developing countries as a group were involved in 39 of the new DTTs, led by Qatar and Viet Nam with 4 DTTs each. Five of the DTTs signed in 2008 were among developing countries only, amounting to 16% of all DTTs concluded in 2008. Those between developed and developing countries still account for the largest share: 38% of all the DTTs (figure I.23). c. International investment agreements other than BITs and DTTs 53 In 2008, 16 international agreements with investment provisions were concluded, bringing the total number of such agreements to 273 by the end of 2008 (figure I.24). Most of them were free trade agreements (FTA), establishing binding obligations � �� Figure I.22. Distribution of BITs concluded at end- 2008, by country group (Per cent) �� Source: UNCTAD (www.unctad.org/iia). on the contracting parties with �� and protection. The scope of the investment chapters in the new FTAs is comparable to provisions found in BITs, including provisions for investor-State dispute settlement. Canada and Singapore were the most active, concluding three new FTAs each with investment provisions. China, the members of the European Free Trade Association (EFTA), 54 Colombia, Peru and the United States concluded two new agreements each. Significant examples include the FTAs concluded by Canada with Colombia and Peru, which contain substantive chapters �� At the same time, the European Community (EC) concluded an Economic Partnership Agreement (EPA) with 15 CARIFORUM States, involving a total of 42 countries 55 and setting out important rules �� In Asia, countries continued to conclude a number of FTAs; China concluded two agreements with New Zealand and Singapore. While the China- New Zealand FTA includes a full investment protection chapter, the FTA with Singapore incorporates the provisions of the China-ASEAN investment agreement upon its conclusion. The Association of Southeast Asian Nations (ASEAN) signed an agreement with Japan, which includes general investment cooperation provisions. The FTA also establishes a Sub-Committee on Investment to discuss and negotiate more substantive investment provisions. Furthermore the Gulf Cooperation Council (GCC) concluded its first comprehensive FTA with Singapore and individual GCC member ��
34 World Investment Report 2009: Transnational Corporations, Agricultural Production and Development countries. The parties agreed that investment issues will be dealt with through BITs between Singapore and individual GCC member countries. In Africa, countries relied on regional �� framework agreements. The United States concluded a Trade and Investment Framework Agreement (TIFA) with the East African Community (EAC) and a Trade and Investment Cooperative Agreement with the Southern African Customs Union (SACU). These agreements establish an institutional framework to monitor trade and investment relations between the parties and to consider ways to promote investment (see annex table A.I.13). d. Investor-State dispute settlement In parallel with the expanding IIA regime, the number of investor-State disputes has remained relatively high. The cumulative number of known treaty-based cases had reached 317 by end 2008 (figure I.25). 56 In 2008, at least 30 new treaty-based investor-State dispute cases were filed, 21 of them with the International Centre for Settlement of Investment Disputes (ICSID). While this was lower than in 2007, when 35 new cases were filed, it is nonetheless considerably higher than those filed before 2002. Since ICSID is the only arbitration facility to maintain a public registry, the actual number of treaty-based cases is likely to be higher. The rise in disputes continues to affect many countries. In fact, at least 77 governments – 47 in developing countries, 17 in developed countries and 13 in transition economies – were involved in investment treaty arbitration by the end of 2008. Argentina still tops the list with 48 claims lodged against it, two of which were brought in 2008. Mexico is second, with �� (15) and Ecuador (14). Countries with a relatively large number of new known cases in 2008 included: Ecuador (4), Ukraine (4) and Georgia (3). Three countries faced arbitration for the first time in �� As many as 92% of known claims (317) were initiated by investors from developed countries, whereas by the end of 2008, there were 20 cases filed by investors from developing countries and 9 from transition economies. Of the 96 cases concluded by end 2008, 51 were decided in favour of the State, and 45 in favour of the investor, although four of these cases are still pending before an ICSID annulment committee. At the same time, 48 cases were discontinued following settlement, 142 Number of IIAs (other than BITs and DTTs) 300 250 200 150 100 50 0 Figure I.23. Distribution of DTTs concluded at end- 2008, by country group (Per cent) �� Source: UNCTAD (www.unctad.org/iia). �� cases were still pending and for 31 cases the status was unknown. The large majority of cases were initiated on the grounds of violating a BIT provision. The BIT between Argentina and the United States leads with 18 claims, followed by the BIT between Ecuador and the United States and that between the Republic of Moldova and the Russian Federation, with nine claims each. With regard to regional and plurilateral international investment agreements, the North American Free Trade Agreement (NAFTA) alone was used in 48 claims while the Energy Charter Treaty (ECT) was used for at least 20 claims. 57 The Central American Free Trade Agreement (CAFTA) has been used in at least two claims since its entry into force. This shows that investors are increasingly using investment chapters of free trade agreements (FTAs) for filing claims against host States. Figure I.24. Number of IIAs concluded at end-2008, cumulative and per period 1957–1967 1968–1978 1979–1989 1990–2000 2001–2008 Source: UNCTAD (www.unctad.org/iia). By period Cumulative
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UNITED NATIONS CONFERENCE ON TRADE
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PREFACE World foreign direct invest
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ACKNOWLEDGEMENTS The World Investme
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TABLE OF CONTENTS Page PREFACE.....
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Page b. Outward FDI: moderate but a
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3. Addressing environmental and soc
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Page I.24. Number of IIAs concluded
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Page 18 and 19: KEY MESSAGES FDI TRENDS, POLICIES A
Page 20 and 21: OVERVIEW xix Amid a sharpening fina
Page 22 and 23: OVERVIEW xxi TNCs in international
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Page 26 and 27: OVERVIEW xxv TRANSNATIONAL CORPORAT
Page 28 and 29: OVERVIEW xxvii The universe of agri
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Page 32 and 33: OVERVIEW xxxi Host countries should
Page 34: PART ONE FDI TRENDS, POLICIES AND P
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INTRODUCTION For the greater part o
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CHAPTER III TNCS AND AGRICULTURAL P
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CHAPTER III 97 significant agent fo
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CHAPTER III 99 Table III.2. Agricul
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CHAPTER III 101 pesticides and chem
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CHAPTER III 103 ��
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CHAPTER III 105 Table III.5. Biofue
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CHAPTER III 107 Figure III.3. A typ
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CHAPTER III 109 Box III.4. The OLI
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CHAPTER III 111 Much of the analysi
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CHAPTER III 113 Figure III.6. Share
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CHAPTER III 115 Table III.8. Compar
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CHAPTER III 117 Table III.9. Inward
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CHAPTER III 119 In recent years, co
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CHAPTER III 121 has been engaged in
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CHAPTER III 123 Figure III.14. Inve
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CHAPTER III 125 bottom nine compani
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CHAPTER III 127 Box III.10. Selecte
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CHAPTER III 129 Table III.13. Examp
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CHAPTER III 131 4 For instance, the
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CHAPTER IV DEVELOPMENT IMPLICATIONS
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CHAPTER IV 135 Box IV.1. TNC partic
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CHAPTER IV 137 Box IV.3. The signif
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CHAPTER IV 139 Sachs, 2001). Withou
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CHAPTER IV 141 such as BASF, Dupont
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CHAPTER IV 143 collective actions i
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CHAPTER IV 145 cocoa and banana pla
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CHAPTER IV 147 produce sold by Shop
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CHAPTER IV 149 of TNCs - internatio
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CHAPTER IV 151 international agribu
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CHAPTER IV 153 to mitigate power as
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CHAPTER IV 155 including least deve
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CHAPTER IV 157 directly in agricult
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CHAPTER IV 159 acquired by foreign
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CHAPTER IV 161 themselves or by the
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CHAPTER IV 163 in farming the same
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CHAPTER IV 165 producing simple, la
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CHAPTER V POLICY CHALLENGES AND OPT
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CHAPTER V 169 b. Land and water use
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CHAPTER V 171 Table V.1. Percentage
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CHAPTER V 173 improve life for loca
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CHAPTER V 175 them with seeds, pest
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CHAPTER V 177 3. Addressing environ
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CHAPTER V 179 productive uses and u
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CHAPTER V 181 Box V.10. Sector-spec
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CHAPTER V 183 Box V.11. Trade barri
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CHAPTER V 185 Box V.12. China’s p
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CHAPTER V 187 agricultural producti
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CHAPTER V 189 advancing by the end
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CHAPTER V 191 industry. However, ex
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CHAPTER V 193 10 11 12 13 14 15 16
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EPILOGUE Building on advanced techn
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AAAID (2002). Arab Authority for Ag
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REFERENCES 199 China, Ministry of A
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REFERENCES 201 FARA (Forum for Agri
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REFERENCES 203 International Instit
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REFERENCES 205 Pardey, G. Philippe
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REFERENCES 207 Tauli-Corpuz, Victor
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REFERENCES 209 United Nations (2004
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ANNEXES 2009
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ANNEX A 213 Annex table A.I.1. Numb
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ANNEX A 215 Annex table A.I.2. Numb
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ANNEX A 217 Annex table A.I.3. Cros
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ANNEX A 219 Sector/industry Annex t
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ANNEX A 221 Annex table A.I.7. Esti
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ANNEX A 223 Region/economy Year Ann
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ANNEX A 225 Annex table A.I.9. The
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ANNEX A 235 Table A.I.13. IIAs (oth
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ANNEX A 237 Annex table A.III.3. In
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ANNEX A 239 Annex table A.III.4. Th
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ANNEX A 241 Annex table A.III.6. Th
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DEFINITIONS AND SOURCES 243 DEFINIT
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DEFINITIONS AND SOURCES 245 C. Data
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ANNEX B 247 Region/economy ��
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ANNEX B 255 ��
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ANNEX B 259 ��
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ANNEX B 261 ��
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ANNEX B 263 ��
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ANNEX B 265 ��
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ANNEX B 267 ��
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ANNEX B 269 ��
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ANNEX B 271 ��
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ANNEX B 273 ��
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SELECTED UNCTAD PUBLICATIONS ON TNC
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SELECTED UNCTAD PUBLICATIONS ON TNC
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QUESTIONNAIRE World Investment Repo
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GE.09- United Nations UNCTAD/WIR/20
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