trends, challenges and prospects of foreign investment in the middle east and north africa
TRANSCRIPT
Working Group on Investment Policies and Promotion:Mitigating Risks and Seeking New Opportunities
19-20 March 2013
Introduction
Marie-Estelle ReySenior Policy Analyst, MENA-OECD Investment Programme
2
Figure 1: Total BITs concluded by MENA countries
Source:MENA-OECD Investment Programme / UNCTAD / Kluwer Law International, 2013.
Algeria
Bahrain
Djibouti
EgyptIra
q
Jordan
Kuwait
Lebanon
Libya
Mauritania
Morocco
Oman
Palestinian Authorit
yQatar
Saudi Arabia
Tunisia UAE
Yemen0
20
40
60
80
100
120
51
31
7
103
6
5259
51
32
19
62
33
2
49
24
55
38 37
2420
1
72
1
39 37 38
16
6
43
24
1
17 19
3328
23
Total signed BITs
Total BITs in force
3
Figure 2: Total intra-MENA BITs
Source:MENA-OECD Investment Programme / UNCTAD / Kluwer Law International, 2013.
Algeria
Bahrain
Djibouti
EgyptIra
q
Jordan
Kuwait
Lebanon
Libya
Mauritania
Morocco
Oman
Palestinian Authorit
yQatar
Saudi Arabia
Tunisia UAE
Yemen0
2
4
6
8
10
12
14
16
12
7
1
15
2
1110
11
56
13
7
1
9
2
13
8
11
5 5
0
14
1
8
4
10
2 2
11
6
12
1
67
5
Intra-MENA signed BITsIntra-MENA BITs in force
4
Main features
• Active BIT signatories since 1990’s• Few FTAs with investment chapters
Morocco-USA FTA signed in 2006Oman-USA FTA signed in 2009
• Traditional approach• Dispute Settlement: national courts and
international arbitration
5
Regional investment agreements
• Arab League: 1980 Investment Agreement 2000 Agreement on the Encouragement and Protection of Investments and
Transfer of capitals and Agreement on the Settlement of Investment Disputes (Council of Arab Economic Unity)
2013 Amendment to the Arab Investment Agreement
• AMU: 1993 Convention on Encouragement and Protection of Investment
• OIC: 1986 Agreement on Promotion, Protection and Guarantee
• COMESA: 2007 Common Investment Area