Trade and Investment

Documento de Investigación 162, 11 de Agosto de 2022

El mecanismo multilateral permanente propuesto y su posible relación con el universo existente de solución de controversias entre inversionistas y estados

por Danish y Daniel Uribe

La opción de reforma del Mecanismo Multilateral Permanente (SMM) que se está debatiendo actualmente en el Grupo de Trabajo III (GTIII) de la Comisión de las Naciones Unidas para el Derecho Mercantil Internacional (CNUDMI) ha planteado una serie de importantes preocupaciones sistémicas para las reformas procesales de la solución de controversias entre inversionistas y Estados. El presente documento trata en primer lugar de situar los debates sobre la SaaaMM en su contexto histórico y contemporáneo. A continuación, examina el Documento de Trabajo 213 de la CNUDMI y las disposiciones legales que contiene, que constituyen la base de los debates actuales sobre esta opción de reforma en el GTIII. Además, explora la posible relación de esta propuesta de SMM con diferentes aspectos del régimen jurídico internacional vigente en materia de inversiones. El documento concluye proporcionando algunos elementos que requieren una mayor consideración en este proceso, especialmente para proteger los intereses de los países en desarrollo.

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Document de Recherche 162, 11 août 2022

Le mécanisme multilatéral permanent proposé et sa relation potentielle avec l’univers existant du règlement des différends entre investisseurs et États

par Danish et Daniel Uribe

L’option de réforme du Mécanisme permanent de règlement des différends internationaux en matière d’investissements actuellement en discussion au sein du Groupe de travail III de la CNUDCI a soulevé un certain nombre de préoccupations importantes concernant la réforme du système de règlement des différends entre investisseurs et États. Le présent document s’attache, dans un premier temps, à situer les discussions sur le mécanisme de règlement des différends dans leurs contextes historique et actuel. Il examine ensuite le document de travail 213 de la CNUDCI et les dispositions juridiques qu’il contient, qui constituent la base des discussions en cours sur cette option de réforme au sein du Groupe de travail. Enfin, il explore les liens potentiels entre le projet de mécanisme de règlement des différends et les différentes facettes du régime des accords internationaux d’investissement. Il se conclut sur les différents points qui nécessitent un examen plus approfondi en vue notamment de préserver les intérêts des pays en développement.

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WTO Public Forum 2022 Working Session: Mainstreaming Development, 30 September 2022

WTO Public Forum 2022 Working Session: Mainstreaming Development in the WTO

30 September 2022

WTO Room E

Time: 11:30-12:45 CEST

The Global South has a fundamental interest in the WTO. In framing the future of trade, reforming and strengthening the organisation requires mainstreaming development in the WTO. The primary question is how to ensure that the broader development dimension of the multilateral trading system is advanced and not simply relegated to polarising conversations about special and differential treatment. This session explores ways in which the multilateral trading system can meaningfully address the needs of developing countries including LDCs. These include assessing different approaches to build greater equity in the trading regime, considering ways to improve the capacity for developing countries to benefit from trade, establishing a deeper role and voice for developing countries including LDCs in developing balanced trade rules, and examining how they can exercise their right to fully participate in the consensus-based decision-making processes of the WTO.

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Webinar: Climate Change, International Investment, Business and Human Rights, 27 September 2022

Webinar: Exploring Linkages between Climate Change, International Investment and the Legally Binding Instrument on Business and Human Rights

27 September 2022

Virtual event

Time: 15:30 – 17:00 CEST

Facilitated by the South Centre, this webinar is an opportunity for participants representing developing country governments, civil society and academia to exchange views and discuss the linkages between Climate Change, International Investment reforms and the Legally Binding Instrument, and how to harness their common    elements to recover better, build resilience against future crises and achieve the UN 2030 Agenda & the SDGs.

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Research Paper 162, 11 August 2022

The Proposed Standing Multilateral Mechanism and Its Potential Relationship with the Existing Universe of Investor – State Dispute Settlement

by Danish and Daniel Uribe

The reform option on the Standing Multilateral Mechanism (SMM) currently under discussion at UNCITRAL’s Working Group III (WGIII) has raised a number of important, systemic concerns for the procedural reforms of investor-State dispute settlement. This paper first seeks to situate the discussions on the SMM within its historical and contemporary contexts. Then it considers UNCITRAL Working Paper 213 and the legal provisions it contains, which form the basis of ongoing discussions of this reform option at WGIII. Further, it explores the potential relationship of this proposed SMM with different facets of the existing international investment law regime. The paper concludes by providing some elements which require further consideration in this process, particularly for safeguarding the interests of developing countries.

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Policy Brief 112, 28 June 2022

IPR-related Statistics in WTO Trade Policy Reviews

 By Peter Lunenborg

The WTO Secretariat Trade Policy Review (TPR) report is an important tool for a WTO Member which synthesizes objective trade-related information in a single document and enables the monitoring of developments in trade. Relevant statistics are therefore an important element of a TPR report.

Currently the practice of using statistical information on intellectual property rights (IPRs) across TPRs is not uniform. This Policy Brief surveys the use of IPR-related statistics in WTO TPRs with a view to exploring possible harmonization and inclusion of common information elements in future TPRs. Harmonized information would provide a baseline for comparison between countries and across time for a single country with respect to the level of IPR protection and immediate benefits derived from the creation of and trade in IPRs.

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Research Paper 157, 3 June 2022

WTO Moratorium on Customs Duties on Electronic Transmissions: How much tariff revenue have developing countries lost?

By Rashmi Banga

This research paper highlights the adverse impacts of the continuing WTO moratorium on customs duties on electronic transmissions on the developing and least developed countries. The rapidly progressing digitalization along with the ongoing pandemic and the food crisis are creating multiple demands on the government revenues. However, because of the moratorium almost all developing, and least developed countries are losing tariff revenues especially at the time when they are most needed. Not only are they losing the fiscal space but are also losing their regulatory space as they are unable to regulate the growing imports of digitizable products, especially of luxury items like the movies, music and video games. It is estimated that in the period 2017-2020, developing countries and LDCs lost $56 billion of tariff revenue, of which $48 billion were lost by the developing countries and $8 billion by the least developed countries. It is interesting to note that this loss of tariff revenue is from the imports of just 49 products (at HS six-digit). With no clarity on the definition of electronic transmissions (ET) and thereby on the scope of the moratorium, the continuation of the WTO moratorium on customs duties on ET can lead to substantive tariff revenue losses for developing and least developed countries in the future.

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South Centre Contribution – UNCTAD eCommerce Week 2022

DATA FOR DEVELOPMENT: HOW TO LEGALLY CHARACTERIZE DATA?

SOUTH CENTRE’S CONTRIBUTION TO THE eTRADE FOR ALL LEADERSHIP DIALOGUE OF THE UNCTAD eCOMMERCE WEEK 2022

Radical technological changes have always challenged pre-existing legal frameworks as demonstrated, for instance, by the commercialization of computer software independently from hardware and the use of genetic information to develop biotechnological innovations in various areas such as health and agriculture. The emergence of big data is a new and outstanding example of such situations. With the growing digitalization of multiple activities, ranging from education and health to ‘smart farming’ and the supply of the most diverse goods, the production and storage of data have exploded. Individuals, businesses and governments are generating an immense amount of data and this will only continue to grow in the future. Yet, the legal characterization of data is still a matter of considerable divergencies and debate. Policy makers and scholars are still searching for legal approaches suitable to address the complex relationships among producers, processors, controllers and users of data…

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Policy Brief 109, 31 March 2022

Draft Fisheries Subsidies Agreement: some key issues to address for a sustainable catch

 By Peter Lunenborg

This Policy Brief reviews the draft Chair’s text for a Fisheries Subsidies Agreement (WT/MIN(21)/W/5). Pursuant to Sustainable Development Goal 14.6, any agreement must effectively discipline fisheries subsidies especially of larger scale fisheries and distant water fishing fleets and must cater to the needs of developing countries including in the form of effective Special and Differential Treatment (S&DT).

This Brief highlights several provisions of the text which would need to be improved to reach its mandated objectives. These provisions include the fisheries management flexibilities in Article 4.3 and Article 5.1.1 which would result in the continuation of fisheries subsidies; provisions on subsidies to fishing in Areas Beyond National Jurisdiction (ABNJ), subsidies to vessels not flying the flag of the subsidizing Member and non-specific fuel subsidies; due process requirements for determinations of Illegal, Unreported and Unregulated (IUU) fishing by coastal Members; treatment of subsidies to finance companies; the proposal purported to address forced labour; treatment of Regional Fisheries Management Organisations/Arrangements (RFMO/As) in the text; the relationship between the future Agreement and the Agreement on Subsidies and Countervailing Measures (ASCM) including their Committees; and the Agreement’s S&DT provisions.

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Statement – International conference on “Climate Change and Sustainable Development”, 26-27 March 2022

Climate change and trade: what policies for environmental goods and services?

Carlos Correa, Executive Director, South Centre

International conference on “Climate Change and Sustainable Development”

26-27 March 2022, Cairo, Egypt

While the importance of protecting the environment in the context of trade policies is firmly recognized, a key question is the extent to which trade disciplines aimed at protecting the environment can reach their intended or declared objectives and affect the trade interests and economic growth prospects of developing countries. Developing countries are also among the most affected by climate change and, hence, they have a major interest in international action to address it. However, the intensification of environmental threats faced by developing countries is not of their making, and advancing an agenda -with no evidence that it would lead to reduced emissions- is likely to just disadvantage the developing world which has the least responsibility historically for today’s climate-related damages. Given this history, as well as the tight external constraints imposed on their efforts to mobilize resources, developing countries cannot be expected to either successfully mitigate climate change or adapt to climate change, without significant financial and technological support. The South Centre has been assessing the policy implications that the initiatives on trade and environmental sustainability will have for the Global South.

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