HL Deb 17 December 1997 vol 584 cc88-9WA
Lord Kennet

asked Her Majesty's Government:

Whether the Multilateral Agreement on Investment as at present drafted is consistent with policies aimed at worldwide social justice enunciated by the Prime Minister at Stockholm and at the Commonwealth meeting in Edinburgh.

Lord Simon of Highbury

The Government believe that the MAI will make a useful contribution to stimulating investment and economic growth world-wide, without prejudicing the interests of social justice. It recognises that the MAI is not designed specifically to address the economic and institutional constraints of poorer developing countries and the Government are therefore exploring how their needs can be taken into account. The Secretary of State for International Development is commissioning a study to look at any implications the MAI may have for these countries.

Lord Kennet

asked Her Majesty's Government:

Whether they consider that the Multilateral Agreement on Investment would "ensure that the poorest people in the world benefit as we move towards a new global society" (White Paper on International Development, Cm 3789).

Lord Simon of Highbury:

The Government recognise in the White Paper that the MAI is not designed specifically to address the economic and institutional constraints of poorer developing countries. It is exploring how their needs can be taken into account. The Government do not believe that the MAI will prevent the poorest people in the world benefiting from globalisation.