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Multilateral Agreement on Investments. An Attempt at Analysis

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Niegodzisz W.

Studia Polityczne (Political Studies)

2004

issue 15

261-284

Since 1991 the Committee on International Investment and Multinational Enterprises (CIME) and Committee on Capital Movements and Invisible Transactions (CMIT) work on joint project of multilateral pact concerning investments. Multinational Agreement on Investment (MAI) is considered to be a new quality in international treaties. It requires from the would-be participating states unconditional acceptance of obligations stemming out of those treaties and defines rules, which the involved states have to apply when agreement on international investment is signed. Such treaties are defining regulations and describing methods of solving problems, allowing the states to bring their cases to the international courts. Often voiced criticism against MAI can be seen as an effect of deep reservations of some nations concerning the world globalization. The critical attitudes can be summed up in five points: 1. Economic globalization went too far. Free movement of goods is not favored in every country. 2. The balance between the state and the market has been destroyed. The corporations have too much say. 3. Globalization is a challenge for a national sovereignty. 4. Globalization reduces transparency and political responsibility moving authority from elected representatives to non-elected international bureaucrats. 5. Globalization limits national and local possibilities making political and economic choices.

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1 Studia Polityczne (Political Studies)

1 Niegodzisz W.

1 2004

Search results

Multilateral Agreement on Investments. An Attempt at Analysis