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Bilateral Investment Treaties

Bilateral Investment Treaties. Vicky Rahamatali. Bilateral Investment Treaties. Executive Summary.

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Bilateral Investment Treaties

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  1. Bilateral Investment Treaties Vicky Rahamatali

  2. Bilateral Investment Treaties Executive Summary Bilateral Investment Treaties(BITs) are agreements established by international trading partners that establish the investing the terms and conditions that two countries will exercise in terms of private investment by nationals and companies of one country in another country.  Should the US engage in a BIT with India? The answer is yes, since it will benefit all and bring much needed relief to the ailing US economy. India has been an economy on the rise, with a projected GDP growth of 6% for 2012, and the government's plans to double spending on infrastructure in the coming years The US is reviewing its Model BIT and has placed on hold a BIT with India. India’s economy has been growing robustly and attracting many investors with new economic policies liberalizing its economy. US government reluctance to sign a BIT may hurt US business interests in India.

  3. Bilateral Investment Treaties • Overview • BITs have been very popular and specifically during the past 20 years, Why hasn’t the US signed one with India? • Key Provisions. Responsibility for BIT policy and negotiations is shared by the State Department and US Trade Representative (USTR) BITs established the terms of trade and shipping between the parties, and the rights of foreigners to conduct business and own property in the host state. 

  4. Bilateral Investment Treaties • Major Problems • The Indian economy has grown considerably since 1995 and • the US has declared India a defining partner in the 21st • century, yet it is reluctant to sign a BIT with India. • Present Issue • India is establishing all kinds of agreements with Asia- pacific partners that will benefit from its growing economy and the US is not part of that equation. Why hasn’t the US signed a BIT with India?

  5. Bilateral Investment Treaties • Competing Interests • US businesses will be at a disadvantage once they begin to compete with investors who entered India before a US-India BIT is signed. The US in an effort to get the most favorable treaty with India, is possibly eroding US business opportunities available now in India. • Other Countries • They are taking advantage of liberalized trade agreements on behalf of the Indian government.

  6. Bilateral Investment Treaties • Policy Proposal • US should: • Accelerate negotiations, • Find common ground • Capitalize on it, and, • Sign a BIT with India • Sooner rather than later

  7. Bilateral Investment Treaties References: Lord Peter Goldsmith, Investors should invoke bilateral investment treaties if they are hurt by adverse policies; The Economic Times, Nov 19, 2012, http://articles.economictimes.indiatimes.com/2012-11-19/news/35203511_1_investment-treaties-dabhol-white-industries Bilateral Investment Treaty, Legal Information Institute, http://www.law.cornell.edu/wex/bilateral_investment_treaty US Department of State, Model Bilateral investment Treaty , Fact Sheet, Office of the Spokesperson, Washington, DC, April 20, 2012, http://www.state.gov/r/pa/prs/ps/2012/04/188199.htm ‘Active progress in India-US talks on investment' The Hindu Business Line, http://www.thehindubusinessline.com/industry-and-economy/active-progress-in-indiaus-talks-on-investment/article3441474.ece Peter PassellIndia's Economic System To Blame for Its Stunted Growth, US NEWS, Economic Intelligence December 14, 2012, http://www.usnews.com/opinion/blogs/economic-intelligence/2012/12/14/indias-economic-system-to-blame-for-its-stunted-growth Developing Countries: The Impact of Bilateral Investment Treaties Jennifer Tobin & Susan Rose-Ackerman, Social Science Research Network Electronic Paper Collection at: http://ssrn.com/abstract=557121 Office of the US Trade Representative: http://www.ustr.gov/trade-agreements/bilateral-investment-treaties Text of: 2012 U.S. Model Bilateral Investment Treaty

  8. Bilateral Investment Treaties Questions?

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