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Prof. Dr. Lawan Thanadsillapakul

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1 Prof. Dr. Lawan Thanadsillapakul
Investment Liberalisation under FTAs and Some Legal Issues in International Law Prof. Dr. Lawan Thanadsillapakul

2 Scope of Presentation The Main issues of Market Liberalization
Understanding the Meaning of FTA The substances of the New Model of FTA Investment Liberalization under the Bilateral Investment Treaty State Sovereignty Restriction over entry and establishment Investment Protection Definition of Investment and Investor Expropriation Fund transfer Dispute Settlement Mechanism

3 Ideology Neo-Liberalism/Neo-Classical - Global Market
Prof. Dr. Lawan Thanadsillapakul Neo-Liberalism/Neo-Classical - Global Market - Market function - No state intervention - No frontier - No barrier State and Market Mechanism for balancing State and Market Competition Law and Policy, Anti-Trust Law, Anti-Monopoly Law

4 Main Issues of Market Liberalization
Implementation of the Trade and Investment Liberalization Economic Theory – Neo Classical – Neo Liberalization Problematic Issues– Market Failure – Policy Failure Economic Instruments for Trade and Investment Liberalization Rule – Based Market Economy Power – Based Market Economy Capacity Building and the enhancement of competitiveness Levelled Playing Field Unequal Players Inequity of the Rule of the game SWOT Analysis

5 Understanding the meaning of FTA
FTA = Free Trade Area and FTA = Free Trade Agreement Problematic Issues– The content and context of Free Trade Agreement The New Model of Free Trade Agreement: Investment Liberalization The Differences between Bilateral Investment Agreement and Investment Chapter under Free Trade Agreement The incorporation of GATT/WTO – Plus requirement into investment chapter The Market cannot function well under the new FTA model Too Stringent Intellectual Property Protection such as the prohibition of CL No clear definition of indirect expropriation The problem of environment protection The Replacement of state barriers by Restrictive Business Practices of TNCs

6 Investment liberalization under BITs
Prof. Dr. Lawan Thanadsillapakul Maintain state sovereignty to control FDI Admission & Right of Establishment Restricted areas of investment Restricted entry and investment Restricted foreign equity ratio or Limitation on Foreign ownership Screening process Control on the operation of foreign investors Limitation on the type and number of foreign personnel and their duration of stay Limitation on ownership of land Requirement that domestic residents be part of board of directors and requirement to implement investment measures

7 Legal Impediments Restrictions on investment
Restrictions on capital repatriation Restrictions on industrial sectors Restrictions on bureaucratic procedures Restrictions on TRIMs – Trade-related investment Measures Restrictions on investment protection Restrictions on Taxation and fees

8 The New FTA Model Prof. Dr. Lawan to ensure that foreign companies will be treated as favourably as national of host country and their competitors to protect FDI from direct and indirect expropriation of investments and ensure that foreign investors will be fairly compensated to ensure free transfer of funds into and out of the host country using the market rate of exchange . to limit the ability of the host government to require foreign investors to adopt investment measures to ensure the right of foreign investors to submit an investment dispute with the treaty partner’s government to international arbitration to give foreign investors the right to engage the top managerial personnel of their choice, regardless of nationality to ensure the use of labour regardless of nationality Thanadsillapakul

9 Legal frameworks governing foreign investment
Prof. Dr. Lawan Thanadsillapakul Domestic Laws and regulations International Law International Codes of conduct, Guidelines Treaty Regime (BITs, Regional Treaty, Multilateral Treaty) WTO Rules and Regulations relating to investment Special regime for investment liberalisation Unilateral liberalization of investment

10 Legal frameworks governing FDI at the international sphere
Prof. Dr. Lawan Thanadsillapakul International Law - Traditional recognized absolute State sovereign rights - Diplomatic protection - State responsibility - Minimum international standard of treatment International Codes and Guidelines, soft law The role of WTO - Multilateral Investment Agreement - General Agreement on Trade related-investment measures (TRIMs) - The General agreement on trade in services (GATs) - General Agreement on Trade-related intellectual property rights (TRIPs) Regional economic integration : EU, NAFTA, ASEAN (regional level)

11 Investment Treaty Regime
Prof. Dr. Lawan Thanadsillapakul Bilateral Investment Treaty Regional investment treaty Multilateral investment treaty Bilateral Free Trade Agreement

12 The scope of investment agreement
Prof. Dr. Lawan The scope of investment agreement Thanadsillapakul The scope of investment agreements is defined primarily through definitions of key terms, such as “investment” and “investor”. The critical functions of the definition are the identification of assets to which the treaty applies The determination of the nature of the obligations created by the treaty

13 Coverage of the Treaty/Agreement
Prof. Dr. Lawan Thanadsillapakul Territorial Coverage - Federal State - Single State - State Parties - Third Parties Personal Coverage - Investor: Juristic person, Natural Person

14 Coverage of the definition
Prof. Dr. Lawan Coverage of the definition Thanadsillapakul Investment Is the term defined by reference to types of assets that, in theory, could amount to an “investment”? Or does one also refer to the underlying transaction in which those assets are involved? Investor Is this term defined by reference to categories of legally recognized persons? Or on the basis of the transactions involved, regardless of the legal status of the person or entity undertaking that transaction?

15 Definition of Investment
Prof. Dr. Lawan Thanadsillapakul The broad asset-based definitions of investment The narrow asset-based definition The enterprise-based and transaction-based definition

16 Investment Any kind of asset Movable and immovable property
Prof. Dr. Lawan Thanadsillapakul Any kind of asset Movable and immovable property Interest in the companies ( both portfolio and direct investment, but generally portfolio and short term investment would be excluded) Contract rights (service agreement) Intellectual property Business concession Each of these types of investment has different economic and development implications for host and home countries

17 The Broad Asset-based Definition of Investment
Prof. Dr. Lawan Thanadsillapakul Property: tangible property, merchandise Property rights: mortgage, lien, pledge, company’s interest, debt, equity, debenture, bonds, portfolio investment Contractual rights: professional services, turnkey contract, insurance policy, contract for sale of goods or services, claims to money Intellectual property rights: trademarks, trade secret, patent, copyrights, technical process, know-how, good will Business concession rights: resources concession

18 The Narrow asset-based definition
Prof. Dr. Lawan Thanadsillapakul Limitation to permitted investment Limitation on time of establishment Limitation on nature of the investment, i.e. only FDI or indirect investment (port folio) Limitation to size, sector: energy

19 The enterprise-based Transaction-based
Prof. Dr. Lawan Thanadsillapakul Establishment & acquisition of an enterprise Shares of enterprise Transaction-based Transaction of establishment Liquidation of enterprise not asset

20 The term “investment” and its interaction with other related issues
Prof. Dr. Lawan Thanadsillapakul Investment and admission and establishment Investment and National Treatment and Most-Favoured-Nation Treatment Investment and incentives Investment and full protection and security Investment and taking of property Investment and funds transfer Investment and dispute settlement

21 Definition of Investor
Prof. Dr. Lawan Definition of Investor Thanadsillapakul Entities considered investors - Exclusions based on legal form - Exclusions based on purpose - Exclusions based on ownership Establishing the link - Natural persons - Legal entities Nationality of enterprise/legal entity - Seat of the enterprise/company - Incorporation place - Controlling Shareholder

22 State’s sovereign Rights
Admission & Right of Establishment Prof. Dr. Lawan Thanadsillapakul State’s sovereign Rights The form of Controls or restrictions over the admission and establishment of foreign investor The acquisition of interests in local business The limitations on foreign ownership and control Registration and report requirements The conditional entry of foreign investors: investment measures, incentive regimes, economic policy

23 Sovereign Rights of Host Country to admit and control foreign investment
Prof. Dr. Lawan Thanadsillapakul Pre entry Pre-entry treatment Total Exclusion Exclusion from negative list, sensitive list, closed sectors Screening Quantitative restriction Conditional entry Restricted allocation Etc. Post entry Post- entry Treatment Form of establishment Ownership control Governmental intervention Special requirements Other Restrictions Control over the operation of MNEs Expropriation/ Nationalization Etc.

24 Measures relating to admission and establishment
Prof. Dr. Lawan Thanadsillapakul Control over access to the host country economy Conditional entry into the host country economy Control over ownership Controls based on limitation of shareholder powers Control based on governmental intervention in the running of the investment Other types of restriction Measures relating to ownership and control

25 Control over access to the host country economy
Prof. Dr. Lawan Thanadsillapakul Absolute ban on all forms of FDI: Former centrally – planned economies prior to the transitional process. Closing certain sectors, industries or activities to FDI for economic, strategic or other public policy reasons. Quantitative restrictions on the number of foreign companies admitted in specific sectors, industries or activities for economic, strategic or other public policy reasons. Investment must take a certain legal form: incorporation in accordance with local company law requirements. Compulsory joint ventures either with state participation or with local private investors.

26 Control over access to the host country economy
Prof. Dr. Lawan Thanadsillapakul General screening/authorization of all investment proposals; screening of designated industries or activities, screening based on foreign ownership and control limits in local companies. Restrictions on certain forms of entry: mergers and acquisitions may not be allowed, or must meet certain additional requirements. Investment not allowed in certain zones or regions within a country. Admission to privatization bids restricted, or conditional on additional guarantees, for foreign investors. Exchange control requirements.

27 Conditional entry into host country: General conditions
Prof. Dr. Lawan Thanadsillapakul Conditional entry upon investment meeting certain development or other criteria (environmental responsibility, benefit to national economy) based on outcome of screening evaluation procedures Investors required to comply with requirements related to national security, policy, customs, public morals as conditions of entry.

28 Condition based on capital requirement
Prof. Dr. Lawan Thanadsillapakul Minimum capital requirements. Subsequent additional investment or reinvestment requirements Restrictions on import of capital goods needed to set up investment ( e.g. machinery, software) possibly combined with local sourcing requirements. Investors required to deposit certain guarantees ( e.g. for financial institutions)

29 Prof. Dr. Lawan Other Conditions Thanadsillapakul Special requirements for non-equity forms of investment (e.g. BOT agreement, licensing of foreign technology). Investors to obtain licenses required by activity or industry specific regulations Admission fees ( taxes) and incorporation fees (taxes) Other performance requirements ( e. g. local content rules, employment quotas, export requirements).

30 Measures relating to ownership and control: Control over ownership
Prof. Dr. Lawan Thanadsillapakul Restrictions on foreign ownership : no more than 50% foreign-owned capital allowed. Mandatory transfers of ownership to local firms usually over a period of time ( fade-out requirements). Nationality restrictions on the ownership of the company or shares thereof

31 Control based on limitation of shareholder powers
Prof. Dr. Lawan Thanadsillapakul Restriction on the type of shares or bonds held by foreign investors e.g. shares with non-voting right Restrictions on the free transfer of shares or other propriety rights over the company held by foreign investors e.g. shares cannot be transferred without permission. Restrictions on foreign shareholder rights e.g. on payment of dividends, reimbursement of capital upon liquidation, on voting rights, denial of information disclosure on certain aspects of the running of the investment.

32 Controls based on governmental intervention in the running of the investment
Prof. Dr. Lawan Thanadsillapakul Government reserves the right to appoint one or more members of the broad of directors. Restriction on the nationality of directors, or limitations on the number of expatriates in top managerial positions Government reserves the rights to veto certain decisions, or requires that important board decisions be unanimous “Golden” shares to be held by the host Government allowing it, for example, to intervene if the foreign investor captures more than a certain percentage of the investment Government must be consulted before adopting certain decisions.

33 Host Country’s General post-entry Control over FDI
Prof. Dr. Lawan Thanadsillapakul Control over Capital movements Control through tax legislation Control through disclosure legislation Control through “merger” legislation Control over operations resulting in divestment Dispute Settlement Expropriation - Traditional concept - Creeping expropriation

34 Related issues to Host’s country control
Prof. Dr. Lawan Thanadsillapakul Definition of investment : the limitation of power of the host country to control or to allow greater discretion to the host state to control FDI Exceptions and derogations: national security, public health, public policy, specific industries Incentives National treatment and most favoured-nation treatment Social responsibility Transparency Dispute settlement

35 Other types of restriction
Prof. Dr. Lawan Thanadsillapakul Management restrictions on foreign- controlled monopolies or upon privatization of public companies. Restrictions on land or immovable property ownership and transfers thereof. Restrictions on industrial or intellectual property ownership or insufficient ownership protection. Restriction on the use of long-term (five years or more) foreign loans e.g. bond

36 Country Approaches to entry and establishment of FDI
Prof. Dr. Lawan Thanadsillapakul The “Investment Control” model, which preserves full State Control over entry and establishment; The “Selective Liberalization” model, which offers limited rights of entry and establishment, i.e. only in industries that are included in a “positive list” by the agreement of the contracting States; The “Regional industrialization programme” model, which offers full rights of entry and establishment based on national treatment for investors from member countries of a regional economic integration organization only for the purposes of furthering such a programme

37 Country Approaches to entry and establishment of FDI
Prof. Dr. Lawan Thanadsillapakul The “Mutual national treatment” model, which offers full rights of entry and establishment based on national treatment for all natural and legal persons engaged in crossed-border business activity from member countries of a regional economic integration organization; The “Combined national treatment/most-favoured-nation treatment” (NT/MFN) model, which offers full rights of entry and establishment based on the better of NT or MFN, subject only to reserved “negative” lists of industries to which such rights do not apply.

38 Transfer of Funds Conditional fund transfer Free/Liberal fund transfer
Prof. Dr. Lawan Transfer of Funds Thanadsillapakul Conditional fund transfer - Balance of Payment - Financial Crisis - Short term Capital control Free/Liberal fund transfer

39 Returns The earnings from investment
Prof. Dr. Lawan Thanadsillapakul The earnings from investment The elements of the term returns mirror the element of the term investment To identify the extent of covered return to be protected under the treaty Investment Returns -Shares - Dividends -Debt - Interest payment - Intellectual Property - Royalties -Service contract

40 Commodity – Based Input TRIMs
Prof. Dr. Lawan Thanadsillapakul Local content requirement Laws of similar Minimum export requirement Trade – balancing requirement Limitation on import Foreign- exchange restriction

41 Factor – Based Input TRIMs
Prof. Dr. Lawan Factor – Based Input TRIMs Thanadsillapakul Local content requirement Local - equity requirement Technology transfer requirement Research & Development requirement National participation in management Local hiring target Expatriate quota

42 Commodity – Based Output TRIMs
Prof. Dr. Lawan Thanadsillapakul Minimum – export requirement Trade balance requirement Export control Market reserve policy Product mandating requirement Licensing requirement Export performance requirement Domestic sales requirement Manufacturing Limitation Manufacturing requirement

43 Factor – Based Output TRIMs
Prof. Dr. Lawan Factor – Based Output TRIMs Thanadsillapakul Technology transfer requirement Earning Remittance Limits

44 Treatment to foreign investor
Prof. Dr. Lawan Treatment to foreign investor Thanadsillapakul Pre-establishment Post-establishment

45 National Treatment Prof. Dr. Lawan Thanadsillapakul The nature and origins of the national treatment standard Scope and application The substantive content of the national treatment standard The relationship between national treatment and other general standards of treatment “De jure” and “de facto” treatment Exceptions to national treatment

46 Definition Prof. Dr. Lawan Thanadsillapakul National treatment can be defined as a principle whereby a host country extends to foreign investors treatment that is at least as favourable as the treatment that it accords to national investors in like circumstances. In this way the national treatment standard seeks to ensure a degree of competitive equality between national and foreign investors.

47 The nature and origins of the NT standard under International Law
Prof. Dr. Lawan Thanadsillapakul The standard represents one of the competing international law doctrines for the treatment of the person and property of aliens “The Calvo Doctrine” or the so called “Negative National Treatment” The doctrine of State Responsibility for injuries to aliens and their property. It asserts that customary international law establishes a minimum international standard of treatment to which aliens are entitled, allowing for treatment more favourable than that accorded to nationals where this fails below the international standard

48 General application of NT
Prof. Dr. Lawan General application of NT Thanadsillapakul National treatment typically extends to the post-entry treatment of foreign investors. Some international investment agreements also extend the standard to pre-entry situations. (US and Canada BITs) Normally such an extension accompanied by a “negative list” of excepted areas of investment activity to which NT does not apply, or a “positive list” of areas of investment activity to which NT is granted. Several types of general exceptions to national treatment exist concerning public health, safety and morals, and national security.

49 National Treatment VS MFN Treatment
Prof. Dr. Lawan Thanadsillapakul National treatment seeks to grant treatment comparable to domestic investors operating in the host country. (to secure a certain level of treatment for FDI in host country) NT serves to eliminate distortions in competition and thus is seen to enhance the efficient operation of the economies involved MFN seeks to grant foreign investors treatment comparable to other foreign investors operating in the host country

50 The differences of NT that applicable to trade and investment
Prof. Dr. Lawan Thanadsillapakul National Treatment in trade agreement is applicable to “Product” The national treatment in investment agreement is applicable to “investments” and/ or “investors”

51 “De jure” and “De facto” NT
Prof. Dr. Lawan “De jure” and “De facto” NT Thanadsillapakul De Jure NT, the treatment of foreign investors based on NT provided under national law and regulation or under the investment treatment De facto NT, the treatment of foreign investors under the factual measures that might work against NT e.g. licensing requirements, qualification requirements. Although these measures may be justified on policy grounds.

52 Classification of exceptions
Prof. Dr. Lawan Exceptions to National treatment Thanadsillapakul Classification of exceptions General exceptions Subject-specific exceptions Industry-specific exceptions Reciprocal national treatment clauses Exceptions based on development considerations

53 Exceptions to national treatment
Prof. Dr. Lawan Exceptions to national treatment Thanadsillapakul General exceptions: public health, order and morals, and national security Subject-specific exceptions: intellectual property rights guaranteed under IP conventions, taxation, prudential measures in financial services, incentives, safeguards, cultural industries exception Country specific exceptions: specific industries for national economic policy and social policy Reciprocal national treatment clauses Exceptions based on development considerations Monitoring

54 Most-Favoured-Nation Treatment
Prof. Dr. Lawan Thanadsillapakul Most-Favoured-Nation Treatment Definition and scope MFN treatment and equality of competitive opportunities The “free rider” issue The identity issue Exceptions: general exceptions, reciprocal subject-specific exceptions, country-specific exceptions

55 The rationale behind the application of MFN to foreign investors
Prof. Dr. Lawan Thanadsillapakul The most-favoured-nation treatment (MFN) standard is a core element of international investment agreements. It means that a host country treats investors from one foreign country no less favourably than investors from any other foreign country in like cases. The MFN standard gives investors a guarantee against certain forms of discrimination by host countries, and it is crucial for the establishment of equality of competitive opportunities between investors from different foreign countries.

56 Expropriation Direct expropriation
Prof. Dr. Lawan Expropriation Thanadsillapakul Direct expropriation Indirect expropriation /Creeping expropriation - Taxation - Disguised Environmental Measures - Di-vestment - Conditional fund transfer - Legal Enforcement - etc

57 Intellectual property Rights
Prof. Dr. Lawan Intellectual property Rights Thanadsillapakul Ex. - Berne Convention - Rome Convention - TRIPs Art. 4 (6) (protection of reciprocity Rule) - NAFTA Art (5) (not limited to protection of reciprocity but applies to IP rights in general

58 Abuse of intellectual property rights
Prof. Dr. Lawan Abuse of intellectual property rights Thanadsillapakul Abuse of intellectual property rights (IPR), for example where technology-licensing arrangements abuse the monopoly position of IPR holders, such as through non-competition clauses and the so-called ‘grant back’. This means the licensee is required to assign inventions made in the course of working on the transferred technology back to the licensor. Another aspect of IPR abuse, “non-contestation clauses” is that the licensee is prevented from contesting the validity of the IPR or other right of the licensor. IPR abuses might be subject to general competition rules on horizontal and vertical restraints.

59 Dispute Settlement State – State Dispute settlement
Prof. Dr. Lawan Dispute Settlement Thanadsillapakul State – State Dispute settlement State – Investor Dispute settlement

60 Dispute Settlement Judicial System Arbitration Prof. Dr. Lawan
Thanadsillapakul Judicial System Arbitration

61 Prof. Dr. Lawan Thanadsillapakul Investment Promotion

62 Investment Incentives
Prof. Dr. Lawan Investment Incentives Thanadsillapakul Tax Incentives Non – Tax Incentives

63 Tax Incentives Prof. Dr. Lawan Thanadsillapakul
An inducement offered in the form of an abatement of taxes such as: Tax holiday from corporate income tax Exemption from income tax, custom duty, corporate tax, Business levy, withholding tax on remittance of profit, dividends and other distribution Tax holiday from dividends tax Tax allowance Concession from duty/levy Abatement of adjusted income Double deduction Tax credit Deduction for labour cost Deduction cost of construction Capital Loss Carry forward Loss write-off provision Any kind of tax exemption

64 Prof. Dr. Lawan Non – Tax Incentives Thanadsillapakul The incentives offered by the government to induce trade and investment either from abroad or domestic, or both sources. But they are not in a form of tax abatement such as: One-stop services Favourable trade and investment environment Good Public infrastructure Telecommunication Network Favourable legal framework Investment Subsidy

65 Competitiveness Capital Technology Management Consumption Behavior
Prof. Dr. Lawan Competitiveness Thanadsillapakul Capital Technology Management Consumption Behavior Global network, Global chain

66 Anti-competitive business practices
Prof. Dr. Lawan Anti-competitive business practices Thanadsillapakul Horizontal restraints Vertical restraints Abuse of intellectual property rights Abuse of market dominance Mergers and acquisition policies Public undertakings and enterprises with special privileges

67 Horizontal restraints
Prof. Dr. Lawan Horizontal restraints Thanadsillapakul Horizontal restraints or the hard-core cartels among firms in an oligopolistic market, engaging, for example, in price fixing, output restrictions, market division, customer allocation, and collusive tendering and other anti-competitive co-operation between firms selling competing products.

68 Prof. Dr. Lawan Vertical restraints Thanadsillapakul Vertical restraints or distribution strategies between manufacturers, suppliers or distributors, such as: tying the sale of one good as a condition for the purchase of another good; exclusive dealing (the seller requires the buyer to purchase the products only from the seller);

69 Prof. Dr. Lawan Vertical restraints Thanadsillapakul territorial restraints (the seller requires the buyer/distributor to resell the product within a limited geographical area); and resale price maintenance (the seller requires the buyer to resell the product only at a specified price). Resale price-fixing also tends to be generally prohibited. The pro- and anti- competitive effects of such vertical restraints need to be evaluated and where necessary controlled.

70 Abuse of intellectual property rights
Prof. Dr. Lawan Thanadsillapakul Abuse of intellectual property rights (IPR), for example where technology-licensing arrangements abuse the monopoly position of IPR holders, such as through non-competition clauses and the so-called ‘grant back’. This means the licensee is required to assign inventions made in the course of working on the transferred technology back to the licensor. Another aspect of IPR abuse, “non-contestation clauses” is that the licensee is prevented from contesting the validity of the IPR or other right of the licensor. IPR abuses might be subject to general competition rules on horizontal and vertical restraints.

71 Abuse of market dominance
Prof. Dr. Lawan Abuse of market dominance Thanadsillapakul Abuse of market dominance: dominant firms accounting for a significant market share may attempt to monopolise a market, for instance through price discrimination, predatory low prices, refusal to deal, or vertical restraints. Rules against the abuse of a dominant position may be conduct-oriented, in other words, a general prohibition against monopolising and foreclosure of competition. Another approach is result-oriented, with a prohibition for example of predatory pricing only if the losses can be recouped.

72 Mergers and acquisition policies
Prof. Dr. Lawan Thanadsillapakul Mergers and acquisition policies Mergers and acquisition policies, where horizontal, vertical or conglomerate mergers, may reduce competition or decrease efficiency. Merger policies may be designed to ensure the contestability of markets by preventing monopoly or price-setting by a single seller and price-taking by a single buyer, as well as oligopolistic or monopolised market power. On the other hand, acquisition policies also overlap with industrial policy instruments.

73 Public undertakings and enterprises with special privileges
Prof. Dr. Lawan Public undertakings and enterprises with special privileges Thanadsillapakul Public undertakings and enterprises with special privileges, which are not required to behave according to market principles, (GATT Article XVII and EC Treaty Article 90) in view of their market power or financial independence. This includes firms with exclusive trading rights and monopolies.

74 The Impacts of FTA on state sovereignty
Prof. Dr. Lawan Thanadsillapakul The impact on Legislation The impact on Judicial System The impact on the Enforcement of Law and Regulations The impact on Administrative System The impact on Territorial Jurisdiction The impact on Personal Jurisdiction

75 Fundamental impact of FTA on Environment
Prof. Dr. Lawan Thanadsillapakul Sovereign Rights Legal Enforcement Over exploitation

76 Negative impacts of FTA
Prof. Dr. Lawan Negative impacts of FTA Thanadsillapakul Agriculture: the instability of the international price of agricultural commodities, Lower agriculture returns are linked to poverty, a major cause of environmental degradation Energy: to mitigate climate change , over-exploitation Fisheries: over-exploitation and illegal, unreported and unregulated fishing. Forestry: the mitigation of global warming and the conservation of biological diversity, illegally harvested forest products, the illegal exploitation of forestry resources, illegal logging

77 The areas need careful liberalization
Intellectual Property Rights Protection International Investment rules Trade – related investment Measures The Treatment of Foreign Investors The liberalization of Trade in services Mutual Recognition

78 The sustainable development
To balance State sovereignty and Market To balance Liberalization and the conservation of natural resources and environment To generate wealth of the local people To evenly distribute income throughout the country and the world To maintain cultural way of life and local wisdom

79 Environment protection: Development –Related Issues and sustainable development
Eco-System Climate Change, Ozone Layer, Air Pollution Control, Noise Abatement, Water Protection and water management, Waste and Waste Management, Soil Protection, Chemicals and Environment Risks Preservation of Natural Resources Bio Diversity, Gene Technology and Environmental Risks Social and Economic environment Regulatory Environment Warning System for environment problem, production process, sustainable consumption and the effective environment Measures

80 Prof. Dr. Lawan Thanadsillapakul Thank you


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