When Did The Asean Comprehensive Investment Agreement Come Into Effect
Another cfIA`s guiding principle is to improve the transparency and predictability of investment rules, rules and procedures that lead to increased investment. These include: to promote the ASEAN region as an integrated investment space with favourable conditions for national and international investment, all Member States agree, through the CFIA: AmS` Reservation Lists: asean.org/?static_post=asean-compehensive-investment-agreement-reservation-list 29 AEC Blueprint, see 23 in paragraph 27. The other three pillars of the CFIA (cf. B art. 24-26) are investment liberalization, facilitation and investment cooperation, as well as investment promotion: see AEC Blueprint, p. 23, points 28-30; Aldaba, Yap- Petri, supra ratings 25 to the 85th joint promotion of the region as an integrated investment area; and, within the framework of the CFIA, each Member State must allow all transfers related to an investment covered in a freely usable currency to be made freely and without delay on its territory and at the departure of it, at the exchange rate of the market in force at the time of the transfer. Transfers may include the gradual liberalisation of Member States` investment regimes; 222 I take Hirsch`s concept of regulatory or mediation principles, above 1 2 vs. 1 55-1 57, which identifies two “regulatory rules” (general international law and international investment jurisdiction) that can be used to resolve conflicts between investment and non-investment commitments. 44 See also AEC Blueprint, see 23 in paragraph 29, which calls for the promotion of intra-ASEAN investment, “particularly ASEAN-6 investments in LAMV” (“CLMV” for Cambodia, Laos, Myanmar and Vietnam, the least developed Member States and the new ASEAN Member States; and “ASEAN-6” for other more developed members). The overall objective of the aSEAN Global Investment Agreement is to establish a free, open, transparent and integrated investment system for domestic and international investors throughout the ASEAN region, and CFIA`s benefits include investment liberalization, non-discrimination, transparency, investor protection and investor-state dispute settlement.
Your email address is used to notify you if your comment has been verified by the moderator and the article author or moderator should contact you directly. 174 See the statement on the establishment of the ASEAN Committee on the implementation of the ASEAN Declaration on the Protection and Promotion of the Rights of Migrant Workers, adopted by ASEAN Foreign Ministers on 30 July 2007 in Manila, Philippines, online: . The CFIA covers almost all forms of investment (excluding members` reserves in the CFIA`s reserve plan), the liberalization rules covering the four main sectors of manufacturing, agriculture, fishing, mining and quarrying, and services related to these sectors. Liberalisation is expected to progress steadily until 2015, as Member States have gradually been reluctant to invest in certain sectors. “As the name suggests, the CFIA is comprehensive, but more importantly, it is also based on international best practices and on an equal footing with other international investment agreements in terms of scope, rights and duties,” he said. You can stay abreast of the latest business and investment trends across Asia by subscribing to Asia Briefing`s free update service with news, comments, guides and multimedia resources. Another important function of the CFIA is the equal treatment of ASEAN investors and their investments. The principles of national treatment and the most favoured nation of the agreement oblige ASEAN Member States not to discriminate and treat ASEAN investors less favourably than their domestic or foreign competitors.