APEC Seeks to Resolve Disputes with Investors
Santiago, Chile, 25 February 2019
Investment experts from across the APEC region convened in Santiago to discuss strategies on strengthening the investment climate. Amongst the issues addressed: preventing and resolving disputes with investors by ensuring transparency and scrutiny of policy and decision making processes; incorporating gender issues in investment policy; and the hundreds of outdated treaties – out of more than 3,300 in total – that, if ratified, should be revised or reconsidered altogether.
The APEC forum allows economies to share their diverse experiences and initiatives, and learn from each other. Soon the working group will also have a handbook for managing investment commitments, prepared with non-specialists in mind. This is expected to help governments better manage investment disputes.
Investment is a leading driver of economic growth and the APEC region relies on it to remain resilient against global economic shocks. In 2018, East Asia and Southeast Asia comprised one-third of global foreign direct investment. In Australia, 1 in 10 jobs is directly supported by investment. Investment is an over-arching issue, integral to the region’s growth trajectory and complementary to all the priorities of APEC 2019. Harmonization of now-fragmented investment regimes, say some economies, can improve regulatory certainty that is essential to investor confidence.
“Coherence of policies always help to attract and retain investment. I’m optimistic, as investment is a cross-cutting issue that will help implement the priorities that Chile has set for 2019.” – Tania Pierotic Mendia, Chair, Investment Experts’ Group, APEC Chile 2019
The complete APEC SOM1 and Related Meetings schedule in Santiago from 23 February to 8 March can be viewed here.
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