Multilateral Agreement on Investment (Hansard, 25 March 1998)

§ Mr. Matthew Taylor
To ask the President of the Board of Trade what analysis the Government have undertaken on the relationship between the Multilateral Agreement on Investment and Multilateral Environmental Agreements; and if she will publish the results. [35498]

§ Mrs. Roche
As part of the OECD's review of the relationship between the Multilateral Agreement on Investment (MAI) and environmental regulation, which was requested by the UK, the OECD Secretariat has prepared a draft paper on the relationship between the MAI and MEAs. This part of the OECD's review is currently under discussion, and we hope it will be placed on the Internet soon.

§ Mr. Matthew Taylor
To ask the President of the Board of Trade what analysis the Government have carried out on the effect of the Multilateral Agreement on Investment on regulations relating to(a) labour standards and (b) the environment; and if she will publish it. [35496]

§ Mrs. Roche
All negotiators agree that the Multilateral Agreement on Investment (MAI) must not undermine normal government regulation, including in the fields of labour standards and the environment. The UK and several other countries are pressing for a requirement that labour and environmental regulations should not be waived to attract particular investments.
A copy of the UK's review of the compatibility of our national laws on the environment with the MAI was placed in the Library of the House on 19 March.
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§ Mr. Matthew Taylor
To ask the President of the Board of Trade if she will publish the evidence evaluated by the Government on the treatment of the trading of pollution quotas under the Multilateral Agreement on Investment. [35497]

§ Mrs. Roche
The MAI concerns investment rather than trade. Nevertheless, the issue of trading pollution quotas is under consideration in the OECD's review of the relationship between the MAI and MEAs.

§ Dr. Starkey
To ask the President of the Board of Trade if she will seek to amend the current draft text of the Multilateral Agreement on Investment in respect of compensation for expropriation of an investment. [35619]

§ Mrs. Roche
New draft text on compensation and expropriation was tabled in negotiations on 17 March in response to fears that an earlier draft was too widely drawn. This makes clear that Parties will not be required to pay compensation for losses arising from normal government activity such as regulation and revenue-raising.
The Government welcome the objective of the new draft, which we will consider carefully.