What Is Asean Comprehensive Investment Agreement

100 Articles 1 and 2 of the Charter of the Association of Southeast Asian Nations (ASEAN Charter), signed by heads of state and government on November 20, 2007, online: . CFIA Section 142, Article 17, paragraph 1, which deals with environmental measures, is similar to the “general exception clauses” contained in other AIs, such as the Energy Charter Treaty, Article 24, and the Canadian ILO model, Article 10, online: . The CFIA is not an investment catchall that any type of business or investor can benefit from, and it contains precise definitions of investments and authorized investors. A CFIA investor can be either a natural person or a corporation. A natural person is defined as a national, citizen or permanent resident of an ASEAN member state. A corporation is defined as any legal person in accordance with the applicable laws of an ASEAN Member State, whether for profit or non-profit or private or public property reasons, and may be an entity, trust, partnership, joint venture, individual company, association or other legal entity. A very important feature of this definition is that a legal entity of an ASEAN Member State controlled by a third country national is also defined as an approved investor, with certain reservations. Another cfIA`s guiding principle is to improve the transparency and predictability of investment rules, rules and procedures that lead to increased investment. These include: 39 Therefore, the general preamble to NAFTA refers to priorities that are not directly related to trade and investment, including “environmental protection” and “fundamental workers` rights.” Similarly, the preamble to the U.S.

Model ILO states that “the [investment]-related objectives are being achieved in a manner consistent with the protection of health, safety and the environment and the promotion of the rights of internationally recognized workers.” 23 ASEAN Economic Community Blueprint, online: . 89 See Schill, supra, under 151-173, which argues forcefully that the DFN provisions should apply to both substantive and procedural rules in the IIA, so that investment protection standards should be broadly “multilateralized”. The CFIA, note 4, point a), is probably an advance by ASEAN against such multilateralization of investor-state arbitration rules. 174 See the statement on the establishment of the ASEAN Committee on the implementation of the ASEAN Declaration on the Protection and Promotion of the Rights of Migrant Workers, adopted by ASEAN Foreign Ministers on 30 July 2007 in Manila, Philippines, online: . 83 IGA, art. X (2). Sornarajah- Arumugam, supra note 57 at 166, states that “if the host state can argue disputes against the foreign investor, this is a completely new proposal that cannot be found in any other investment contract.” 236 A state measure cannot constitute “arbitrary or unjustified discrimination” or “disguised restriction” of foreign investment, in order to fall under a general exception within the meaning of Article 17; furthermore, measures to safeguard public order, protect public morality or protect human, animal or plant or health life must be “necessary” to achieve these respective objectives. A footnote to section 17, paragraph 1 of the CFIA also states that “the public order exception can only be invoked by a Member State if there is a real and sufficiently serious threat to one of the fundamental interests of society.” (Added) 22 See online: (“CFIA”).