ASEAN Comprehensive Investment Agreement and the ASEAN Plus Agreements Sample Clauses

ASEAN Comprehensive Investment Agreement and the ASEAN Plus Agreements. The purpose of ACIA is not only to consolidate and replace the terms of ex- 9 isting investment agreements19 but also to establish new principles to facilitate the free flow of investment in (and into) the ASEAN region. The main objec- tives of ACIA20 are the progressive liberalisation of the investment regimes of member States (Art. 1(a)), as well as joint promotion of the ASEAN region ‘as an integrated investment area’ (Art. 1(d)), with priority given to manufacturing, agriculture, fisheries, forestry and mining,21 investment protection (Art. 1(b)), the improvement of transparency and predictability of investment rules, regula- tions and procedures (Art. 1(c)), and promotion of the facilitation of investment by investors of a member State in the territory of another member State (Arts. 1(e), 24, 25 and 26). ACIA’s drafters intended to draw on ‘international best practice’ as well as on the existing agreements.22 This was considered to include the investor-friendly provisions of the 2004 US Model BIT,23 NAFTA,24 the OECD Guidelines for Multinational Enterprises25 and UNCTAD’s assessment on international investment agreements, as well as provisions in the ASEAN in- vestment agreements with China, Korea and Australia–New Zealand, which were also being drafted at that time.26 ney Law School Research Paper No. 10/145, 1, 34, available at xxxx://xxxxxx.xxxx.xxx/sol3/ xxxxxx.xxx?abstract_id=1724999. 19 ACIA, Preamble. 20 ACIA Art. 1. 21 ACIA Art. 3. 22 ASEAN, Highlights of the ASEAN Comprehensive Investment Agreement (ACIA), 26 August 2008, available at xxxx://xxx.xxxxx.xxx/21885.ppt. 23 Treaty between the Government of the United States of America and the Government of [Country] concerning the encouragement and reciprocal protection of investment, released 5 February 2004, available at xxxx://xxx.xxxxx.xxx/documents/organization/117601.pdf. 00 Xxxxx Xxxxxxx Free Trade Agreement, 17 December 1992, 32 ILM 296, entered into force 1 January 1994, available at xxxx://xxx.xxxxx-xxx-xxxxx.xxx/en/view.aspx?x=343. 25 OECD Guidelines for Multinational Enterprises, available at xxxx://xxx.xxxx.xxx/document/ 28/0,3746,en_2649_34889_2397532_1_1_1_1,00.html. 26 Xxxxx Xxxxx, ‘The ASEAN Comprehensive Investment Agreement: Realizing a Regional Community’ (2011) 6(1) Asian J. Comp. L., Art. 4, 1–39; see also ASEAN, Highlights of the ACIA (n. 22). Vihvttipesn://ndoei.oBrga/1t0h.5/7L7u1/k97e83N84o5t2t5a89g9e7-332 287 Chapter 4: International Investment Agreements – History, Appro...
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