STATUS OF THE FTAA INVESTMENT NEGOTIATIONS

The Sixth meeting of Ministers of Trade for the Hemisphere was held on April 7, 2001, in Buenos Aires, where Ministers were presented with the draft FTAA negotiating text. Ministers provided detailed instructions to Negotiating Groups, including directions to intensify efforts to resolve existing divergences in their respective texts and to submit a new version of their respective chapters to the Trade Negotiations Committee no later than 8 weeks prior to the next Ministerial. The Negotiating Group on Investment (NGIN) was instructed to submit recommendations on modalities and procedures for negotiations by April 1, 2002, in order to initiate negotiations no later than May 15, 2002.

To meet the schedule set by Ministers, the NGIN met on May 10, 2001, in Panama City to develop a detailed work programme for the next 12 months of meetings covering the following general areas:

1. Modalities and Procedures for Negotiation
2. Review of the Investment Consolidated Text
3. Institutional Coordination with other Negotiating Groups
4. New Issues to be added to the Consolidated Text

In its first two meetings, held on June 25-27 and August 20-22, the NGIN worked on issues relating to: Definitions, Scope of Application, National Treatment, Most-Favoured Nation, and Fair and Equitable Treatment. Although much work remains on these issues, the NGIN managed to remove several brackets and further consolidate the text. The question of extraterritoriality was introduced under the heading "new issues". Upcoming meetings will centre on Key Personnel, Transfers and Performance Requirements.

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