HL Deb 12 January 1998 vol 584 cc155-6WA
Lord Kennet

asked Her Majesty's Government:

Whether the draft text of any multilateral agreement on investments has been or is to be published, and if so where and when; and which government department will be responsible for presenting it to Parliament.

The Minister of State, Department of Trade and Industry (Lord Simon of Highbury)

My department is responsible for presenting the multilateral agreement on investment (MAI) to Parliament. Copies of the current draft MAI consolidated text were put on the Internet at the OECD's site in October and in the Library of the House. The text is also available on request from my department and has already been circulated among interested parties including business and NGOs.

Lord Kennet

asked Her Majesty's Government:

Whether it is their intention to sign a multilateral agreement on investment, such as is being prepared for signature next year within the OECD.

Lord Simon of Highbury

It is the Government's intention to sign the multilateral agreement on investment, subject to the satisfactory conclusion of the negotiations. We support the general aims of the agreement and are working hard to achieve a successful outcome by April 1998.

Lord Kennet

asked Her Majesty's Government:

Whether, if the proposed multilateral agreement on investment were to go ahead, it is intended to be accompanied by a standardisation of environmental, labour and human rights regimes worldwide.

Lord Simon of Highbury

There are no plans to standardise regimes worldwide on these topics, whether in association with the multilateral agreement on investment or otherwise. Some aspects of these subjects are under separate discussion in other multilateral fora.

Lord Kennet

asked Her Majesty's Government:

Whether the provisions of the proposed multilateral agreement on investment are compatible with policy commitments to reduce pressure on the British or any other, including global, environment.

Lord Simon of Highbury

The Government are committed to sustainable development and the protection of the environment. The multilateral agreement on investment will be compatible with this aim.

Lord Kennet

asked Her Majesty's Government:

What is the purpose of the multilateral agreement on investment reputedly being prepared for signature next year within the OECD, and what is their relationship to the World Trade Organisation.

Lord Simon of Highbury

I refer the noble Lord to my noble friend the Minister for Trade's reply on 4 November,Official Report, WA 279. The multilateral agreement on investment will be consistent with World Trade Organisation agreements; all seek to liberalise markets.