Vol. 497 No. 7
83 Proinsias De Rossa asked the Tánaiste and Minister for Enterprise, Trade and Employment the position regarding negotiations on the Multilateral Agreement on Investment; the stance the Government is taking on this issue; and if she will make a statement on the matter. [26175/98]
Negotiations on a Multilateral Agreement on Investment were held under the auspices of the Organisation for Economic Co-Operation and Development, in Paris. It was intended that the MAI would be a free-standing, international treaty, open to all countries willing and able to meet its obligations.
As a small country with a high dependence on trade and foreign investment, Ireland would tend to favour a multilateral approach to dealing with regulatory issues that involve governments.
Concerns were raised in the course of the negotiations on a number of issues including national sovereignty, labour and environment, culture, dispute settlement, extra-territoriality, regional integration and the needs of developing countries.
In April 1998, governments decided to engage in a period of assessment and further consultation and to have no further negotiations for six months.
France announced in October 1998 that it would not continue with the negotiations. Negotiations on the MAI have ceased.
There is a recognised need for a multilateral framework for investment. France has suggested that the World Trade Organisation would be the most suitable forum to negotiate such a framework. Many other countries, including Ireland, have already expressed this view — see reply to Parliamentary Questions on 21 April 1998. However, there would need to be a consensus in the WTO before negotiations can commence there.
In the meantime, discussions on investment will take place in the OECD. These discussions will include consultations with civil society.
