The World Economic Forum Committed to Improving the State of the World

Transcription

1 The World Economic Forum Committed to Improving the State of the World

2 2 Agenda The World Economic Forum and its Global Challenges Our work on International Trade and Investment The ICTSD / WEF E15 Initiative and the Investment Task Force UNCTAD s WIR challenges and roadmap for IIA reform

3 About the World Economic Forum: Overview and Mission is the International Institution for Public-Private Cooperation aiming to shape global, regional, national and industry agendas established in 1971 as a not-for-profit foundation and headquartered in Geneva. Other offices in New York, Beijing and Tokyo. Annual summit at Davos, Switzerland independent, impartial and not tied to any special interests, works in close cooperation with all major international organisations, business associations and civil society engages political, business, academic and other leaders of society in collaborative efforts to improve the state of the world provides a neutral platform for informal peer-to-peer interaction among most influential decision makers and thought leaders works through issue and sector focused communities and projects, regional and global summits to confront the world s most pressing challenges and be a driver of change Source: World Economic Forum 3

4 Grow Asia Multi-stakeholder partnership in support of agriculture development in the ASEAN region

5 Reports

6 Projects

7 The Global Challenges A comprehensive framework on a multi-stakeholder approach to global solutions

8 The World Economic Forum s first nine Global Challenges The World Economic Forum has committed to providing an impartial and trusted space for top-level, publicprivate collaboration to advance the agenda on 9 of the world s most pressing global public good challenges Employment, Skills and Human Capital Environment and Resource Security Agriculture and Food Security Economic Growth and Social Inclusion The Future of Global Financial System The Future of the Internet Global Gender Parity International Trade and Investment Long-term Investing, Infrastructure and Development 8

9 International Trade and Investment Shaping economic growth, development and industry competitiveness

10 Dialogues with global trade leaders. But beyond convening...

11 WEF s trade and investment framework. Two main elements: Global Alliance for Trade Facilitation Public-private platform to support implementation of WTO s Trade Facilitation Agreement bringing together leading donors, local and global businesses (private sector expertise and resources), and international institutions to support commercially-meaningful and development-focused trade facilitation reforms Action The E15 Initiative Creation of mid and long term policy options for global decision makers World s highest-level trade and investment brainstorming exercise Exceptionally substantive content from very engaged world-class experts Major publications Agenda Setting 11

12 THE E15 INITIATIVE Strengthening the Global Trade and Investment System

13 Scope Trade and investment issues requiring international cooperation *Cross-cutting Task Force IMPROVING GLOBAL TRADE ARCHITECTURE Functioning of the WTO Global Trade Architecture Regional Trade Agreements Regulatory Coherence* Subsidies* KEY GLOBAL PRIORITIES Competition Policy Global Value Chains Investment Policy* Climate Change Industrial Policy Innovation Finance and Development SECTORAL CHALLENGES Agriculture and Food Security Clean Energy Technologies Extractive Industries Fisheries and Oceans Services

14 Key Numbers Policy Options creation process LEADING INTERNATIONAL EXPERTS 80+ WORKSHOPS 16 PARTNERING INSTITUTIONS 150+ ANALYTICAL PAPERS AND THOUGHT PIECES

15 Organisational Affiliations of E15 Experts Academia Business Think Other IGO* Government WTO 4% 6% 11% 25% 24% 30% *Other IGO (non-wto): African Union Commission Asia-Pacific Economic Cooperation (APEC) Caribbean Regional Negotiating Machinery World Health Organization (WHO) Food and Agriculture Organization (FAO) Inter-American Development Bank (IDB) International Labour Organization (ILO) International Trade Centre (ITC) Organisation for Economic Co-operation and Development (OECD) United Nations Commission on International Trade Law (UNCITRAL) United Nations Conference on Trade and Development (UNCTAD) United Nations Economic Commission for Africa (UNECA) United Nations Economic Commission for Europe (UNECE) United Nations Economic Commission for Latin America and the Caribbean (UNECLAC) United Nations Industrial Development Organization (UNIDO) World Bank World Intellectual Property Organization (WIPO)

16 The Investment Policy Task Force Committed to Improving the State of the World

17 Theme Leader Dr. Karl P. Sauvant Resident Senior Fellow, Columbia Center on Sustainable Investment TASK FORCE EXPERTS

18 Issues analysed (Group ToR s) and WIR Challenges Do the various standards contained in IIAs require a review? If so, which ones and how? (i) Are the purposes served by the international investment regime designed in the 1960 s still adequate? Are sustainable development objectives properly addressed by the regime? (i) Does the current investor-state dispute-settlement mechanism meet 21st century challenges? (ii) Is the institutional infrastructure (or the lack of it) of the current regime satisfactory? Avenues for reform? (ii) Does the balance of the rights and responsibilities of the principal actors in international investment need adjustment? Is the moment ripe to discuss an investor responsibility/accountability framework? (iv) Is it desirable to multilateralize the investment regime? If so, how to do it after sound historical failures? (v) Is the relationship between IIAs and other international agreements of immediate relevance to international investment clear (e.g. UN Guiding Principles on Business and H.R. s, double taxation agreement and D.S.)? (v) What are the links between the trade regime and the investment regime, keeping in mind the negotiation of mega-regionals? Is further harmonization of both regimes appropriate? (e.g. D.S., non-conforming measures) What is the impact that new multinational corporate structures and GVCs have on IIAs? Special issues: e.g. SOEs treatment; investment incentives; investment contracts; investment and taxation

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20 Think Pieces by the Investment Task Force

21 Think Pieces by the Investment Task Force Task Force s background paper: sketches current concerns and challenges of the investment regime, and outlines policy options Multinationals and Foreign Investment Policies in a Digital World**: analysis of evolving MNE structures, new players (emerging markets) and key outward FDI drivers. Also seeks to assess business models and impacts in digital economy/ict, and public policy implications Regulatory Competition in Globalising Markets for Improved Conditions for Private Investment: through survey analysis, shows current trends of modernisation, deregulation and globalisation of local rules driven by regulatory competition. Offers ideas for a global investment agreement Investment and Trade Regimes Conjoined: Economic Facts & Regulatory Frameworks: seeks for regimes complementarities including GVCs Substantive provisions in IIAs and future treaty-making: Addressing three challenges: Identifies three key challenges with regard to the substantive provisions of IIAs (limited object, broad investment protection, lack of legal certainty), puts forward options to address them Reforming Investor-State Dispute Settlement (ISDS): Conceptual Framework and Options for the Way Forward: develops a conceptual framework (constitutional law analysis) for improving ISDS. Advocates for an ISDS system which is more in line with international public law principles Interrelationships between Investment Law and Other International Law Regimes**: Including but not limited to human rights, humanitarian, environmental, labour and intellectual property law and various regional orders. Explores issues of fragmentation and conflicts of law Establishing an International Advisory Centre on Investment Disputes?**: examines challenges faced by defendant States in ISDS, draws lessons from early initiatives and from the WTO ACWL, and describes useful defence and representation services, advisory services and capacity building An International Support Programme for Investment Facilitation: advocates the need for an international support programme for sustainable investment facilitation and discusses how it can be backed using the Aid for Trade Initiative and the Trade Facilitation Agreement The Mauritius Convention on Transparency: A model for further reforms of ISDS?* - UNCITRAL: describes the UNCITRAL Transparency Rules and Transparency Convention and discusses the feasibility to use this model of entry into force to harness past BITs towards regime harmonization Current status: * = under preparation / ** = under peer review

22 Think Pieces by the Investment Task Force International investment law and taxation*: describes the current international tax regime, identifies three points at which investment and taxation overlap and suggests a new design for tax and investment rules. Specially focuses on lessons learned from ISDS towards a taxation DS mechanism Extending responsibilities in international investment law: possibility of expanding the scope of IIAs making investor obligations enforceable Investor-State Conflict Management: A preliminary sketch World Bank: discusses the need for pre-conflict management mechanisms, describes the elements needed for governments to operate them and suggests what should be addressed by an international agenda The Evolving Global Business Landscape: Implications for the International Investment Policy Regime OECD: discusses global investment trends and identifies three factors and their implications for the international investment policy regime, namely, how companies organise their operations, increased government involvement in certain sectors (SOEs, clean energy) that may be discouraging investment, and governance gaps in key areas Governments as competitors in global markets: Options for ensuring level playing field* - OECD: discusses trade and investment operations by State-controlled enterprises, proposes options for ensuring a level playing field (competitive neutrality), and anticipates future policy considerations Disciplining Investment Incentives: A Lost Cause?**: discusses the scope of investment incentives and current practices, global and regional trends, the development angle, the political economy of investment incentives rulemaking, and puts forward policy options for disciplining investment incentives The Role of Pacific Rim FTAs in the Harmonization of International Investment Law**: discusses the possibility of Pacific Rim agreements (mainly RCEP, TPP and US-China BIT) becoming a pathway to a larger Free Trade Area of the Asia-Pacific (APEC FTAAP) as a bridge to multilateralization Toward a Multilateral or Plurilateral Framework for Investment**: Advocates for a Multilateral Framework for Investment Responsible State-investor contracts to accompany and influence international investment treaty making and implementation* UN Office of the High Commissioner for Human Rights: advocates for a fully integrated responsible contracting model on investment and human rights The involvement of national social dialogue institutions in policy making and dispute resolution concerning operations of MNEs* - ILO Current status: * = under preparation / ** = under peer review

23 Cristián Rodríguez-Chiffelle Associate Director International Trade and Investment World Economic Forum route de la Capite CH-1223 Cologny/Geneva Switzerland Tel.: Fax:

24 World Economic Forum route de la Capite CH-1223 Cologny/Geneva Switzerland Tel.: Fax: