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Last Update: 07-Jul-2006

Cancun Trade and Development Symposium
Simposio sobre Comercio y Desarrollo, Cancún
Symposium sur le Commerce et le Développement,
Cancun

Session 3.1

INVESTMENT AS IF SUSTAINABLE DEVELOPMENT REALLY MATTERED

 12 September 2003, 9:00 -13:00, Miro Room

 

Synopsis | Agenda | Speakers Bios | Organisers | Documents

Synopsis

Foreign direct investment (FDI) can be a powerful engine of sustainable development, particularly in developing countries where the need for growth is clear. But there is nothing automatic about its benign nature; FDI has a mixed record both on economic criteria, where there has been a long-standing debate over linkages and restrictive business practices, and on non-economic criteria such as the environment, human rights and sovereignty.

This session – which has its origins in an IISD-RIIA collaborative project – will explore the ways in which current investment rules impact on the quality of investment and other public policy goals. Do the rules embedded in current bilateral investment treaties and regional agreements hamper the ability of states to take policy measures in the public interest? Does the answer to this question vary as the level of development of the host state varies? What role do domestic institutions play in this equation?

The session ultimately aims to ask what an international investment agreement would look like if it were explicitly aimed at fostering sustainable development, considering such things as the necessary balance between rights and responsibilities accorded investors, host states and home states. And it asks whether and how such considerations can be built into investment agreements. It brings in a wide range of experience, from Bilateral Investment Treaties (BITs) to regional treaties such as NAFTA, and in the end considers the implications for the WTO’s ongoing discussions on investment.

 

Synopsis | Agenda | Speakers Bios | Organisers | Documents

Agenda

 

9:00
Introduction: Objectives and Welcome
  Co-chairs: Aaron Cosbey (International Institute for Sustainable Development) and Duncan Brack (Royal Institute of International Affairs)
9:15 Foreign Direct Investment and Development

Developing Countries and FDI: Focusing on Quality, Not Quantity, Nagesh Kumar (Research and Information System for the Non-Aligned and other Developing Countries)

9:55

 Investment Agreements and Policy Space: Evidence from Current Practice

Spaces for Policy Development: The Case of Venezuela’s Oil Sector, Ambassador Werner Corrales-Leal (ICTSD)

Implications of Investment Liberalisation Rules for Sustainable Development Policies in the Electricity Sector, Navroz Dubash and Albert Cho (World Resources Institute)

GATS and Investment: The Case of Water Utilities, Elisabeth Tuerk (Center for International Environmental Law)

Discussant: Putting it all into context, Howard Mann (International Institute for Sustainable Development)

12:00

Investment Agreements as if Development Really Mattered

Searching for the Holy Grail? Making FDI Work for Sustainable Development, Kevin Gallagher (Global Development and Environment Institute, Tufts University)

A Positive Agenda for Investment: Elements of a Pro-Sustainable Development Investment Agreement, Howard Mann and Konrad von Moltke (International Institute for Sustainable Development)



Synopsis | Agenda | Speakers Bios | Organisers | Documents

Speakers Bios

Aaron Cosbey is an Associate and Senior Advisor to the International Institute for Sustainable Development. Aaron Cosbey is an environmental economist specializing in the areas of trade and sustainable development, international environmental governance, and the greening of business/regulatory reform.

Duncan Brack is the Head of the Sustainable Development Programme at the Royal Institute for International Affairs. He has expertise in interaction of international trading and environmental protection regimes, international environmental crime, ozone depletion and the Montreal Protocol, and international environmental institutions.

Nagesh Kumar was appointed the Director-General of RIS in October 2002. Dr. Kumar joined RIS in 1985 after holding teaching and research positions at the University of Delhi, Indian Institute of Public Administration, National Institute of Science Technology and Development Studies, and the United Nations University/INTECH.

Werner Corrales-Leal is a Senior Fellow at ICTSD and a Senior Adviser for UNCTAD. He is the former Venezuelan Minister of Development; Minister of Trade; and Minister of State in charge of Economic Planning and Coordination. He was also Venezuela’s Ambassador to the WTO and the UN for over five years.

Navroz K. Dubash is a Senior Associate in the Institutions and Governance Program at the World Resources Institute. His work explores the impact of financial globalisation on problems of environment and development as part of WRI's International Financial Flows and the Environment (IFFE) project, with current attention to liberalisation of the electric power sector worldwide.

Albert Cho is currently an intern at the World Resources Institute. He was a 2001 Truman Scholar, and has served as the Executive Editor of the Harvard International Review and is the author of the Global Trade Negotiations Home Page, a website about international trade policy.

Elisabeth Tuerk is a Staff Attorney at the Center for International Environmental Law’s European office in Geneva, Switzerland, where she works on reforming the WTO to reflect sustainable development concerns and to respond to the need for greater public participation in WTO policy making and dispute settlement.
Kevin Gallagher is a Lecturer at the Global Development and Environment Institute of Tufts University in Medford, Massachusetts, US.

Howard Mann is a practising lawyer and the Senior International Law Advisor to the International Institute for Sustainable Development, where he also coordinates the IISD Investment Program. Howard has a PhD in international law from the London School of Economics, and was a negotiator of several international environmental agreements for Canada. He is also an Adjunct Professor of International Law at the University of Ottawa Faculty of Law.

Konrad von Moltke works on international environmental relations for IISD. Recently his work has focused on environmental policy and international economic relations, debt, trade and development. He is a Senior Fellow at World Wildlife Fund in Washington, DC, Adjunct Professor of Environmental Studies and Senior Fellow of the Institute on International Environmental Governance at Dartmouth College and Visiting Professor of Environmental Studies at the Free University, Amsterdam.

 

Synopsis | Agenda | Speakers Bios | Organisers | Documents

Organisers

International Institute for Sustainable Development (IISD) and the Royal Institute of International Affairs (RIIA), in collaboration with the Center for International Environmental Law (CIEL); Global Development and Environment Institute (GDAE); Tufts University; Research and Information System for the Non-Aligned and other Developing Countries (RIS); and the World Resources Institute (WRI).

 

Synopsis | Agenda | Speakers Bios | Organisers | Documents

Background Documents

For more information please contact tds@ictsd.ch.

 



Concept Note

Guidelines for Session Organisers

 

 

 

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