Announcement
Recently the Japanese government has accelerated its conclusion of economic partnership agreements (EPAs, alternately known as free-trade agreements) and bilateral investment treaties (BITs). To date, Japan's number of signed EPAs which contain investment rules and signed BITs totals 21. Since many of the Japanese EPA/BIT contracting states are major investment destinations for Japanese companies, the widening of EPA/BIT coverage has significantly influenced corporate investment strategies. Globally, the total number of BITs concluded exceeds 2,500, a network that presents broad areas of opportunity for multinational companies.
How are these international investment agreements (IIAs) useful for companies? IIAs oblige states to protect investments and investors in their respective territories. If a state fails to follow this obligation, investors can pursue investment treaty arbitration. In some cases, arbitral tribunals have demanded several million U.S. dollars in compensation from states found in breach of IIA rules. Although only one Japanese company is said to have used investment treaty arbitration, other Asian companies have filed claims and Asian countries have also been filed against and thus become respondents. As investment treaty arbitration is used frequently, many states understand its strength, which means that companies can capitalize on their "right" to rely on investment treaty arbitration even before they actually file a claim. Unfortunately, many businesspeople in Japan have not recognized the significance of EPA/BITs. One purpose of this seminar is to elucidate the usefulness of IIAs for these businesspeople.
The increasing number of IIAs and the use of investment treaty arbitration give rise to consideration about the corresponding policy implications. For example, with which countries will Japan conclude IIAs? Should multilateral investment agreements be created? Does investment treaty arbitration impose an excessive burden on national governments? Can investment liberalization progress further? In this seminar, we will delve into these issues and others surrounding the current IIA climate.
Information
- Time and Date: 13:30-17:55; Friday, July 25, 2008
- Venue: RIETI's seminar room
(1121,11th Floor, Ministry of Economy, Trade and Industry Annex)
1-3-1 Kasumigaseki, Chiyoda-ku, Tokyo - Language: Japanese/English (with simultaneous interpretation)
- Charge: ¥1,000 (an official receipt will be issued)
(Students ¥500; please present your student ID at the reception desk.) - Host: Research Institute of Economy, Trade and Industry (RIETI)
- Sponsor: Japan Commercial Arbitration Association (JCAA)
- Contact: RIETI, (Ms.) Tomoko KASE
Tel: 03-3501-8398 Fax: 03-3501-8416
*Handouts pertaining to the seminar will be available for download from the RIETI website after the event.
Agenda
Chair: MATSUMOTO Kayo (Fellow, RIETI)
13:30 - 14:30 Session 1: International Investment Rules: Current Perspectives
13:35 - 13:50 Presentation "Introduction to International Investment Agreements"
KOTERA Akira (Faculty Fellow, RIETI / Professor, Graduate School of Arts and Sciences, the University of Tokyo)
13:50 - 14:10 Presentation "Recent Developments in International Investment Agreements"
Anna JOUBIN-BRET (Senior Legal Adviser, Policies and Capacity-building Branch [PCBB], Division on Investment, Technology and Enterprise [DIAE], United Nations Conference on Trade and Development [UNCTAD])
14:10 - 14:30 Q&A
14:30 - 15:50 Session 2: How to Make Investment Safe
14:30 - 14:50 Presentation "Can Investment Treaties Make Investment Safe?"
Louis T. WELLS (Herbert F. Johnson Professor, International Management, Harvard Business School)
14:50 - 15:10 Presentation "Investment Insurance and Investment Treaties"
KONNO Hidehiro (Chairman and CEO, Nippon Export and Investment Insurance [NEXI])
15:10 - 15:20 Comments
SAKUMA Soichiro (General Manager, Legal Department, Nippon Steel Corporation)
15:20 - 15:30 Comments
ASAKAWA Kazuhiro (Faculty Fellow, RIETI / Professor, Graduate School of Business Administration, Keio University)
15:30 - 15:50 Q&A
15:50 - 16:10 Coffee Break
16:10 - 17:50 Session 3: Future of International Investment Agreements
Chair: KOTERA Akira (Faculty Fellow, RIETI / Professor, Graduate School of Arts and Sciences, the University of Tokyo)
16:10 - 16:30 Presentation "Japanese Government Policy on Bilateral Investment Treaties"
MITA Noriyuki (Director for FTA Affairs, Economic Partnership Division, Trade Policy Bureau, METI)
16:30 - 16:50 Presentation "Toward a Sustainable Legal System of International Investment"
HAMAMOTO Shotaro (Professor, Graduate School of Law, Kobe University)
16:50 - 17:05 Comments and Issues
Anna JOUBIN-BRET (Senior Legal Adviser, Policies and Capacity-building Branch [PCBB], Division on Investment, Technology and Enterprise [DIAE], United Nations Conference on Trade and Development [UNCTAD])
17:05 - 17:20 Comments and Issues
Louis T. WELLS (Herbert F. Johnson Professor, International Management, Harvard Business School)
17:20 - 17:50 Discussion and Q&A
17:50 - 17:55 Closing Remarks
OIKAWA Kozo (Chairman, RIETI)
*Agenda is subject to change
