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502. The case for a framework agreement on investment
- Author:
- Gary Hufbauer and Sherry Stephenson
- Publication Date:
- 03-2014
- Content Type:
- Policy Brief
- Institution:
- Columbia Center on Sustainable Investment
- Abstract:
- In Columbia FDI Perspectives, No. 102, Axel Berger claimed that the debate over a multilateral framework for investment is futile. We disagree. Following its achievements at the 9th Ministerial Conference in Bali, Indonesia, the World Trade Organization (WTO) should launch negotiations to draft a 21st century Investment Framework Agreement (IFA).
- Topic:
- Economics, International Trade and Finance, Markets, Treaties and Agreements, and Foreign Direct Investment
- Political Geography:
- Colombia
503. The "spaghetti bowl" of IIAs: The end of history?
- Author:
- Joachim Karl
- Publication Date:
- 02-2014
- Content Type:
- Policy Brief
- Institution:
- Columbia Center on Sustainable Investment
- Abstract:
- In his famous book, "The End of History and the Last Man", published in 1992, Francis Fukuyama argued that Western democracy represents the end point of the socio-cultural evolution of humanity and the final form of government.
- Topic:
- Economics, International Trade and Finance, Markets, Treaties and Agreements, and Foreign Direct Investment
- Political Geography:
- France
504. Recalibrating interpretive authority
- Author:
- Anthea Roberts
- Publication Date:
- 01-2014
- Content Type:
- Policy Brief
- Institution:
- Columbia Center on Sustainable Investment
- Abstract:
- There have been many calls for a rebalancing of investor protection and state sovereignty in the investment treaty system. However, another equally important shift is underway: the recalibration of interpretive authority between treaty parties and arbitral tribunals. In newer-style investment treaties, states are increasingly protecting and enhancing their role in interpreting and applying their treaties.
- Topic:
- Economics, Government, International Trade and Finance, Markets, Treaties and Agreements, and Foreign Direct Investment
505. The Conflict over Aviation Emissions: A Case of Retreating EU Leadership?
- Author:
- Antto Vihma and Harro van Asselt
- Publication Date:
- 02-2014
- Content Type:
- Policy Brief
- Institution:
- Finnish Institute of International Affairs
- Abstract:
- Notwithstanding the incremental steps taken in October 2013, meaningful action on regulating international aviation emissions through the International Civil Aviation Organisation (ICAO) remains a distant prospect. The European Union (EU) must decide on its aviation Directive without the guarantee of a global market-based mechanism being agreed in 2016. The strong and uncompromising positions of countries opposed to the inclusion of foreign airlines in the EU's emissions trading system (ETS) are more related to a realist game of politics rather than to the design details of the policy instrument. The political and legal arguments against the European Commission's proposal to amend the EU ETS vis à vis aviation emissions are unconvincing. Europe should also insist on its own sovereign rights-such as the right to regulate international aviation in its own airspace-and consider ways of manifesting more assertiveness in the future in order not to create a precedent with the retreat in the Aviation Directive case. Otherwise, the EU ma y become vulnerable to pressure in other areas of regulation with extraterritorial implications, and the EU's credibility when faced with strong and coordinated external influences might be undermined.
- Topic:
- Climate Change, Health, Treaties and Agreements, and Infrastructure
- Political Geography:
- Europe
506. Next steps toward a final deal with Iran
- Author:
- Steven Blockmans and Luigi Scazzieri
- Publication Date:
- 02-2014
- Content Type:
- Policy Brief
- Institution:
- Centre for European Policy Studies (CEPS)
- Abstract:
- On January 20th, the International Atomic Energy Agency (IAEA) confirmed that Iran had been implementing its commitments as part of the Joint Plan of Action (JPA) agreed by the E3+3 in Geneva on November 24th of last year. In particular, the Agency confirmed that Iran had not installed new centrifuges, that it had stopped enriching uranium above 5%, that it had disabled connections between cascades being used to enrich up to 20%, and that it had begun the process of diluting half of its stockpile of 20%, while the other half is to be converted to oxide over the next six months. Over the next six months, the IAEA will continue to monitor Iranian enrichment, and activities at Arak, Fordow and Natanz. Immediately following the IAEA announcement, the US and EU suspended some of the sanctions currently imposed on Iran. Sanctions relief, quantified at $7 billion, comprises both the suspension of some sanctions and the repatriation of $4.2 billion of oil revenues in tranches.
- Topic:
- Security, Economics, International Cooperation, International Organization, Treaties and Agreements, International Security, and Nuclear Power
- Political Geography:
- Iran
507. Governance Transfer in the North American Free Trade Agreement (NAFTA)
- Author:
- Francesco Duina
- Publication Date:
- 02-2014
- Content Type:
- Working Paper
- Institution:
- Collaborative Research Center (SFB) 700
- Abstract:
- While NAFTA itself does not contain any provisions for governance transfer, its two side agreements (NAALC, NAAEC) prescribe standards in the realm of human rights (labor, environment), the rule of law, and good governance and create a number of instruments for their (indirect) promotion. Through technical assistance, fora for dialogue and exchange, monitoring, and complaints procedures that can result in monetary sanctions, the side agreements aim at promoting the effective enforcement of national law rather than regional standards. These provisions reflect the same concerns in the United States and Canada that lead to the conclusion of the two side agreements in the first place: creating conditions for fair competition in light of Mexico's failure to effectively enforce national laws, resulting in de facto lower labor and environmental standards and thus lower costs compared to the northern neighbours. Beyond formal governance transfer, NAFTA has had an impact on domestic governance reforms in Mexico since the early 1990s as it was used as leverage in both international negotiations and Mexican domestic politics.
- Topic:
- Economics, International Trade and Finance, and Treaties and Agreements
- Political Geography:
- United States, America, Canada, North America, and Mexico
508. Perspectives on topical foreign direct investment issues
- Author:
- Rainer Geiger
- Publication Date:
- 04-2014
- Content Type:
- Policy Brief
- Institution:
- Columbia Center on Sustainable Investment
- Abstract:
- Launched in July 2013 by the European Union and the United States, the Transatlantic Trade and Investment Partnership (TTIP) represents an important effort to reach a comprehensive economic agreement between two major trading partners. As has been pointed out, the project offers great opportunities for liberalizing trade and investment and regulatory convergence. Its level of ambition implies high risks, but despite negotiators' initial optimism, its success is far from certain. This Perspective focuses on the project's investment chapter, drawing lessons from the failed negotiations on a Multilateral Agreement on Investment (MAI), which was meant to consolidate the results of liberalization in the OECD area, establish new disciplines and introduce protection and dispute settlement.
- Topic:
- Economics, International Trade and Finance, and Treaties and Agreements
- Political Geography:
- Europe and North America
509. Institutional reform in the EU
- Author:
- Philippe de Schoutheete
- Publication Date:
- 02-2014
- Content Type:
- Policy Brief
- Institution:
- EGMONT - The Royal Institute for International Relations
- Abstract:
- This Policy Brief discusses the potential reforms of the EU institutions that can take place during the 2014 - 2019 legislative term. It argues that negotiations on Treaty change are a possibility, but they should only start in the second part of the legislature. In the meantime, several institutional reforms that can improve the functioning of the EU – and hence increase its legitimacy – should already be considered.
- Topic:
- Regional Cooperation, Treaties and Agreements, Governance, and Reform
- Political Geography:
- Europe
510. Baghdad-KRG Negotiations: Closer Than Ever to a Fair Deal
- Author:
- Michael Knights
- Publication Date:
- 02-2014
- Content Type:
- Working Paper
- Institution:
- The Washington Institute for Near East Policy
- Abstract:
- Baghdad's promising offer on oil exports and revenues could provide vital breathing room to build a permanent revenue-sharing law, and Washington should encourage the Iraqi Kurds to sign on. On February 16, the Iraqi central government and the Kurdistan Regional Government (KRG) will hold another round of negotiations on oil exports and revenue sharing, the fifth such meeting since December 25. With passage of Iraq's 2014 budget delayed by the talks, all parties have a strong interest in striking a deal. Fortunately, such an agreement now stands a better chance of sticking than ever before.
- Topic:
- Economics, Treaties and Agreements, and Ethnic Government
- Political Geography:
- Iraq and Arabia