§ Lord Kennetasked Her Majesty's Government:
Whether any United Nations, inter-governmental, or non-governmental environmental or human rights organisations have been observers at the negotiations for the proposed OECD Multilateral Agreement on Investment, and, if so, which.
§ Lord Clinton-DavisThe WTO, IMF and Energy Charter Secretariat have observer status at the MAI negotiations. The UNCTAD Sectariat is also regularly updated on progress. Non-governmental organisations have met the MAI negotiating group, as well as individual country delegations including the UK. More meetings are planned, the next in January 1998.
§ Lord Kennetasked Her Majesty's Government:
Whether "defence" is being excluded from the operation of the proposed OECD Multilateral Agreement on Investment; and, if not, whether it will be defined so as to exclude "dual use" (that is, for both military and civilian use) and "off-the-shelf" defence procurement, particularly in the field of electronic information.
§ Lord Clinton-DavisThe MAI will contain a general exception for matters relating to national security.
§ Lord Kennetasked Her Majesty's Government:
What are the implications for the sovereignty of independent states in economic, social, labour, environmental and other fields of the proposal OECD Multilateral Agreement on Investment.
§ Lord Clinton-DavisThe MAI will prevent governments discriminating on the grounds of the nationality of an investor unless an exception has been listed by that government for a particular measure. The MAI will not prevent general regulation in economic, social, labour, environmental and other fields.
§ Lord Kennetasked Her Majesty's Government:
Whether a world trade "court" is being proposed to deal with disputes under the proposed OECD Multilateral Agreement on Investment.
§ Lord Clinton-DavisDisputes between states will be arbitrated through ad hoc panels. Investors will be able98WA to take action through independent arbitral bodies such as ICSID (the International Centre for Settlement of Investment Disputes). This follows the practice of bilateral investment treaties and similar agreements such as the Energy Charter Treaty.
§ Lord Kennetasked Her Majesty's Government:
How "investment" is defined, and how it is distinguished from "speculation", in the proposed OECD Multilateral Agreement on Investment.
§ Lord Clinton-Davis"Investment" is defined very broadly in the draft agreement, including every kind of asset owned or controlled, directly or indirectly, by an investor, including an enterprise; shares stocks or other forms of equity participation in an enterprise; bonds, loans and other forms of debt; rights under contracts; claims to money and to performance; intellectual property rights; rights such as concessions, licences, authorisations and permits; and any other tangible and intangible, movable and immovable property. The term "speculation" is not mentioned.
§ Lord Kennetasked Her Majesty's Government:
Whether they have conducted, or are aware of, any studies of the proposed Multilateral Agreement on Investment's implications for the global distribution of wealth; and if so, what are the results.
§ Lord Clinton-DavisI am not aware of any such studies.
§ Lord Kennetasked Her Majesty's Government:
Whether (a) in their view; and (b) in the view of the NGOs which they have consulted, the draft text of the Multilateral Agreement on Investment "takes account of our sustainable development objectives" (White Paper on International Development, Cm 3789).
§ Lord Clinton-DavisThe government are working for an MAI which will be consistent with sustainable development. NGOs have raised some concerns about the environmental impact of the MAI. These are being addressed in the negotiations, in part through an environmental review requested by the UK.