Trade-related Investment Measures Research Articles

The new EU regulations for food safety

The inspirational principles of the norms known as the “Hygiene package”: the framework of new perspectives on food safety. At the beginning of the 1980s, all member states of the World Trade Organisation (WTO) subscribed to international agreements regarding strategies for food production and its marketing. These agreements, known as TRIPS (Agreement on Trade- Related Aspects of Intellectual Property Rights), GATT (General Agreement on Tariffs and Trade), GATS (General Agreement on Trade in Services) and TRIMS (Agreement on Trade-Related Investment Measures) [1] signalled the beginning of a new, globalized, commercial strategy on food products which has also caused importantrepercussions within the European boundaries, but with some fundamental differences.

Is the Russian Economy a Market Economy?

The purpose of the article is to assess whether Russia is a market economy according to the set of criteria. In the event that Russia loses the status of a country with a market economy, a statistical hypothesis was tested about a significant difference in the average values of national rates of US anti-dumping duties for market and non-market economies. The status of Russia is analyzed based on EBRD data for 2021–2022, the 2021 report of the WTO Secretariat on the trade policy of the Russian Federation. The claims expressed by the EU and the United States regarding government procurements and localization requirements at meetings of the WTO Committees on Trade in Goods and on Trade-Related Investment measures in 2020–2021 are considered. Anti-dumping duties were estimated based on the US notification of anti-dumping investigations for 10.01.2021–30.06.2021. Methods of mathematical statistics were used, as well as the IBM SPSS statistics system. According to the EBRD, Russia as a “sustainable market economy” is rated at an average of 5.9 points out of 10 possible. A lag in terms of integration was noted. The pricing policy does not cause complaints from the WTO members, however, the policy of government procurements, localization and import substitution of the Russian government does not meet the expectations of the WTO member countries. It was revealed that the exclusion of foreign manufacturers in the widely interpreted “government procurements” is the weakest element among those assessed. The specific obligations of the protocol on Russia’s accession to the WTO (paragraph 99 of the Report of the working group) “to make purchases, if they are not intended for state needs, guided by commercial considerations, without interfering with competition from enterprises of other WTO member countries for participation in such procurements” are violated. The impending loss of market status with the US could increase anti-dumping duties on Russian exports by 287 percentage points. The revealed upward trend in national rates of anti-dumping duties for countries with non-market economies allows us to conclude that the level of discrimination against countries with non-market economies is increasing. The hypothesis that the difference between the average values of the national rates of US anti-dumping duties for market and non-market economies is significant is confirmed.

Energy and the TRIMs and GATS agreements

Abstract The international energy sector has always involved a wide range of activities, with energy mineral extraction residing at its core. Technological advancements and job specialisation have resulted in segmentation within the industry as traditionally conceived. With sensitivity to the relationship between energy use and climate change, the growth of interest in renewable energy sources have further contributed to segmentation within the industry. Thus, when writ large, the international energy sector has become increasingly subject to certain WTO rules governing trade-related investment measures and generally agreed rules governing trade in services, Central obligations found in these rules are examined in this commentary and analysed in the context of three hypothetical situations, all with an eye towards an increasing understanding of what relevant countries hosting efforts by the international energy sector may and may not do to affect the sector.

One Stone, Two Birds: Can China Leverage WTO Accession to Build the BRI?

The efficacy of the World Trade Organization (WTO), as an international forum seeking to provide a uniform platform to Member States for bilateral and multilateral negotiations and further the spirit of a new international economic legal order, is challenged constantly. This article explains how China is using the WTO accession process to leverage its domestic interests towards the Belt & Road Initiative (BRI) to obtain greater commitments from existing and potential BRI nations. It is shown that after the BRI’s official establishment in 2013, China’s trade commitments from potential accession countries are becoming more pronounced, with increasing and sometimes onerous expectations of the acceding countries, due to the lack of any standard format for bilateral accession protocols. WTO law is increasingly part of BRI hard law governance practices, suggesting encroachment of BRI disputes within the WTO dispute settlement framework to establish a novel approach to dispute resolution. Since rules-based trade practices are needed, Member States should not adopt accession protocols that are either too rigid or too flexible, thereby creating glaring loopholes to be misused. WTO’s overall objective of furthering trade liberalization can be achieved only by keeping track of techniques adopted by developed countries when negotiating with developing and least developed countries such that potential members are not discouraged from joining the new economic order from the outset. BRI, Belt and Road Initiative, WTO, accession, SCM agreement, subsidies, services, telecommunications, trade-related investment measures, LDC Guidelines

АНАЛИЗ И ПЕРСПЕКТИВЫ РЕАЛИЗАЦИИ РЕЖИМА ЛИБЕРАЛИЗАЦИИ ИНВЕСТИЦИОННОЙ СФЕРЫ В МИРОВОЙ ЭКОНОМИКЕ

The article assesses a significance of the most important component of the agreement on accession to the WTO, namely the agreement on trade-related investment measures (TRIMs), in increasing the attractiveness of developing countries to investors from abroad. In addition, traditional determinants of FDI placement, such as the macroeconomic stability, trade openness, and economic development, are considered. The authors carry out an analysis in the field of regulation of TRIMs by the example of economic policies in developing countries. The study shows that the extent to which TRIMs contributed to achieving the goals varied significantly, reflecting the specific economic and political conditions of the country using them. In some cases, they played a role in encouraging foreign companies to make more use of local sources or increase their exports from the host country. In other cases, the impact seemingly was negligible.

To Select Appropriate Mode of Partnership in International Trade

The weave of global free market concept is near to death now. Hope for the free market trade was initiated by the World Trade Center (WTO) under its inspiring agreements as a part of multilateral trade negotiations. Several rounds of WTO showed light for free movement of goods, services even manpower from least developing countries to the developed markets. WTO was successful to negotiate a long list of agreements like Agreement on Agriculture, Agreement on the Application of Sanitary and Phytosanitary Measures, Agreement on Technical Barriers to Trade, Agreement on Trade Related Investment Measures, Agreement on Anti-Dumping, Agreement on Customs Valuation, Agreement on Pre-shipment Inspection, Agreement on Rules of Origin, Agreement on Import Licensing Procedures, Agreement on Subsidies and Countervailing Measures, Agreement on Safeguards, General Agreement on Trade in Services, Agreement on Trade-Related Aspects of Intellectual Property Rights, Agreement on Government Procurement, and Trade Facilitation Agreement etc. within last three decades. But major challenge bring forward while the agreements started to be enforce in practice. First attract was led by USA who refuses to implement DFQFMA to the LDCs and introduced a condition of 97% products, they had selected these 97% so list of products so comprehensively for the countries that all major export items of the LDC countries like Bangladesh went out of 97%. Various counter proposals were placed and standard, compliance and conditions etc. forms of restrictions made the negotiation complex and time consuming.

The Relationship between Foreign Direct Investment, the Right to Development and the Un Sustainable Development Goals

How can foreign direct investment contribute to fulfil the right to development and realize some of the UN Sustainable Development Goals? The chapter consider this question by focusing on the role of international law and intergovernmental institutions that deal with three aspects of foreign direct investment: the transboundary flows of investment, protection of foreign investors and their investment once established in another country, and the responsibility of foreign investors for harm caused by their investment. Issues that concern transboundary flows of foreign direct investment are examined on the basis of WTO rules on trade in services, in particular commitments concerning commercial presence in the context of market access and national treatment, and on trade in goods under the Agreement on Trade-Related Investment Measures, as well as rules in bilateral and multilateral investment agreements aiming at facilitating flows of foreign direct investment among treaty parties. Issues that concern protection of foreign direct investment are studied based on bilateral and a few multilateral investment treaties as well as investment chapters in free trade and economic cooperation agreements. The extent to which these agreements offer effective protection of investors or investment depends extensively on investors’ ability to bring cases to international tribunals in order to achieve economic compensation for treaty violation. Issues regarding the responsibility and liability of foreign investors are considered on the basis of the limited range of treaties and soft law instruments that have been adopted since the 1970s.

Government Procurement Outside the GPA: A Developing Country View

Since the early days of the General Agreement on Tariffs and Trade (GATT), government procurement has been a topic sensitive to the developing world. Developed nations with the aim of promoting competition, transparency and enhanced value for money, entered into a plurilateral agreement to govern government procurement. This was later revised to enhance the level of commitments. Currently, over forty-eight WTO Members are signatories to the plurilateral agreement on government procurement. This leaves a large proportion of the membership still tied to the GATT-era commitments on government procurement. The extent of these commitments was later extended to other multilateral agreements such as the TRIMS (Trade Related Investment Measures), SCM Agreement (Agreement on Subsidies and Countervailing Measures), and the General Agreement on Trade in Services (GATS). This article aims to identify the extent of the commitments related to government procurement in these multilateral agreements and map out the policy space available to the developing countries.

The Effects of the Trade-related Investment Measures Agreement on the Egyptian Economy

Abstract The Trade-Related Investment Measures (TRIMs) Agreement aims to balance the interests of developed countries seeking to protect their investments as well as developing countries trying to attract more foreign investments to finance national projects. This article assesses the TRIMs Agreement and the compatibility of Egyptian economic legislation, especially the provisions of the Investment Law No. 72/2017, alongside the impact of this agreement on the Egyptian economy. We conclude that Egyptian legislation as a whole is in line with the TRIMs Agreement, with the exception of some provisions enacted under exceptional circumstances in Egypt since January 2011. As a result of these circumstances, it is impossible accurately to assess the extent to which the Egyptian economy was affected by the implementation of TRIMs during the current period, since the policies adopted by the Government of Egypt have succeeded in increasing the volume of foreign direct investment to Egypt.

Competition Policy, Trade and the Global Economy: Existing WTO Elements, Commitments in Regional Trade Agreements, Current Challenges and Issues for Reflection

Competition policy, today, is an essential element of the legal and institutional framework for the global economy. Whereas decades ago, anti-competitive practices tended to be viewed mainly as a domestic phenomenon, most facets of competition law enforcement now have an important international dimension. Examples include: the investigation and prosecution of price fixing and market sharing arrangements that often spill across national borders and, in important instances, encircle the globe; multiple recent, prominent cases of abuses of a dominant position in high-tech network industries; important current cases involving transnational energy markets; and major corporate mergers that often need to be simultaneously reviewed by multiple jurisdictions. Beyond competition law enforcement per se, increasingly, major issues of competition policy (e.g., the impact on competition of the structure and scope of intellectual property rights or the role of state-owned enterprises) implicate the interests of multiple jurisdictions. To date, efforts to establish a general agreement on competition policy in the framework of the international trading system have been unsuccessful. Nonetheless, provisions relating to competition policy are incorporated in the WTO General Agreement on Tariffs and Trade (GATT); the General Agreement on Trade in Services (GATS); the Agreement on Trade-Related Intellectual Property Rights (TRIPS Agreement); the Agreement on Trade-Related Investment Measures (TRIMs Agreement); and other WTO instruments. Effective national competition policies are also essential to realizing the benefits derivable from participation in the (plurilateral) WTO Agreement on Government Procurement (GPA). The importance of competition policy for world trade is also manifested by the increasing incorporation of undertakings on competition policy in the Protocols of Accessions that apply to new WTO Members, and in the work of the WTO Trade Policy Review Body, which systematically references developments regarding national competition policies in developed and developing jurisdictions. Beyond this, as set out in this paper and further manifesting the significance of competition policy for international trade, detailed chapters on competition policy have been incorporated in numerous bilateral and regional trade agreements (RTAs) linking developed and developing economies around the globe. The WTO Working Group on the Interaction between Trade and Competition Policy, which was active from 1997 through 2003 and which considered the case for a more general agreement on competition policy in the WTO, has been inactive since 2004. It is, nonetheless, available as a potential vehicle for stocktaking of developments and reflection on relevant issues if ever WTO Members find this useful and timely. A salient related consideration is that, whereas in 1997, when discussion commenced in the WTO Working Group, only around 50 economies in the world had national competition legislation, currently, about 135 WTO Members have such laws. These include all of the BRICS economies (Brazil, Russia, India, China and South Africa) and a large number of other developing WTO Members. Concurrent with the foregoing developments, increasing attention is being given, in international policy circles, to particular issues of competition law enforcement and competition policy with significance for the global economy. These include: • The international dimension of competition law cases: the resulting positive spillovers for economic welfare and potential for conflicts of jurisdiction; • The broadening application of competition policy vis-a-vis intellectual property rights in the global economy; • Important issues concerning the potential for monopolization and the maintenance of competition in digital markets; • Issues concerning state-owned enterprises, the role of industrial policy and the maintenance of competitive neutrality in emerging economies; and • A mounting concern, on the part of global businesses, to ensure non-discrimination, transparency and procedural fairness in competition law enforcement worldwide. This paper reviews and reflects upon these and related developments. It proceeds from the premises that important synergies exist between trade and competition policy and that it is reasonable to acknowledge this and inquire whether additional steps are desirable to ensure the full realization of the relevant synergies. The paper is intended to serve as a resource for reflection on related issues, if and/or when WTO Members decide to undertake such an exercise. Even so, it is recognized that the issues are complex, and that simplistic or overly ambitious or prescriptive solutions will not be helpful. In this light, the closing portions of the paper reflect upon the importance of relevant international learning processes; the actual and potential contributions of the WTO in this regard; and prospects for the future.

Interpretation and Application of Investment Measures in Practice of International Investment Arbitration

INTRODUCTION. Developing States are interested in both the inflow of foreign investment and its efficient use in their national economies. In the furtherance of this objective, host States set in their national legislation trade-related investment measures, referred to as “performance requirements” (requirements to achieve certain national economically useful results). The interests of foreign investors and host States in the matter of measures falling within the concept of “performance requirements” mostly diverge, since these measures create for foreign investors competitive restrictions related to the use of their investments. In legal science and practice there are known trade-related investment measures, such as export requirements, foreign exchange restrictions, local content requirements and others. The possibility for foreign investors to invest without performing trade-related investment measures was one of the main problems of transnational investment. The TRIMs agreement and Art. 1106 of NAFTA are devoted to the sole subject of regulation – “performance requirements”. The idea of limiting these measures was simultaneously discussed in the NAFTA negotiations and within the Uruguay round: the elaborated provisions are similar in some aspects, but have their specific characteristics. The article deals with the rules of both agreements in light of dispute settlement practice. The conclusions of the arbitrators are analyzed in chronological order, which helps to trace the evolution of the single concept in two distinct systems of WTO and NAFTA rules. The article demonstrates the common points and differences in the interpretation of the concerned provisions norms, with consideration for the context and objectives of the agreements. MATERIALS AND METHODS. The materials used in the article include the works of Russian and foreign scholars in the field of international economic law and WTO law, international legal documents adopted within the WTO and NAFTA, as well as materials of judicial and arbitration practice of investment disputes. The research was done on the basis of general and specific scientific methods of cognition (dialectical method, analysis and synthesis, deduction and induction, comparative legal and historical-legal methods). RESEARCH RESULTS. The analysis revealed that trade-related investment measures are part of the “performance requirements” listed in Art. 1106 of NAFTA, which developed countries managed to defend in negotiations with developing countries during the drafting of the TRIMs agreement. Despite the integrity of the concept of “investment requirements”, there is an evident difference in the scope of covered measures, as well as the conceptual difference between the notions of “trims” and “performance requirements”, due to the specifics of the WTO and NAFTA. Nevertheless, in both cases, common qualification criteria of prohibited measures have been developed independently from each other in the practice of investment disputes settlement in order to address similar issues of interpretation. DISCUSSION AND CONCLUSIONS. On the ground of the analysis of arbitration practice in the TRIMs and Art. 1106 of NAFTA, the article gives reasons for the conclusion of the parallel development of the concepts of “trade-related investment measures” and “performance requirements”.

The Nigerian oil and gas local content regime and its (non) compliance with the trims agreement

One major milestone for the Nigerian oil and gas industry was the enactment of the Nigerian Oil and Gas Industry Content Development Act in 2010. The Act establishes a comprehensive local content regime that enshrines legal measures which promote the patronage of Nigerian products and services by operators in the Nigerian oil and gas industry. This article examines the provisions of the Act and Nigeria’s obligations under the WTO’s Trade Related Investment Measures (TRIMS) Agreement with a view to determining whether the provisions of the Act are in violation of Nigeria’s obligations under the TRIMS Agreement. It also examines whether any exemptions can justify the derogation of Nigeria’s obligations under the TRIMS Agreement. The article finds that requirements under the Act constitute trade-related “investment measures” within the meaning of the TRIMS Agreement because such requirements are explicitly meant to apply to “all operations or transactions” connected with the oil and gas industry. This article also finds that some provisions of the Act are not in compliance with Nigeria’s obligations under the TRIMS Agreement. In particular, sections 10 (1), 11(1), and 12 of the Act which favour the use of local products and materials for projects in the oil and gas industry contravene Nigeria’s obligations under the TRIMS Agreement. The article further identifies exemptions which can justify Nigeria’s application of oil and gas industry local content measures that derogate obligations under the TRIMS Agreement. In this regard, the article suggests that the exemptions under Article 4 of the TRIMS Agreement, which permit a WTO member whose economy is in the early stages of development and can only support low standards of living to temporarily apply local content measures, can be applied by Nigeria to justify the oil and gas industry local content measures under the Act for the purpose of promoting economic development and improving living standards in the country. Keywords : GATT, Local Content Requirements, Nigeria, TRIMS, WTO Obligations

The service sector in the free-trade agreement between the EU and Singapore: closing the gap between policy and business realities

The aim of this paper is to investigate how new rules and practices in multilateral, regional and bilateral trade negotiations related to the services industries can be adopted and implemented at the business level, using the recently concluded free-trade agreement (FTA) negotiations between the EU and Singapore as an illustrative case. The purpose is to put the services sector into the larger framework of business service interaction between the EU and the outside world by identifying crucial sub-sectors within the services industries and their relations to physical, ‘visible’ production and trade. Furthermore, to assess the prospects of ‘multilateralising’ regional trade agreements within the service sector, through the ambitions by both parties to make bilateral and interregional FTAs and EPAs more compatible and mutually comparable with the multilateral GATS’ rules. The EU-Singapore FTA is an agreement that became a ‘second-best’ solution of the stalled interregional EU-ASEAN negotiation, taking place 2006–2009. It can nevertheless be seen as a ‘WTO-plus’ endeavour, since it aims at reaching beyond what is under negotiation in the likewise stalled Doha Development Agenda within the WTO framework, particularly in the fields of business services, public procurement, intellectual property rights, trade-related investment measures, and, generally, competition rules. Since both parties already apply low or zero tariffs in most sectors of manufacturing, the main issues in the negotiations were related to services in general and knowledge-intensive business services in particular, with an emphasis on technical barriers to trade. To what extent will there be a true mutual opening up of the service markets between the two parties as a result of the agreement, and what technical and mental barriers remain? This FTA, if successfully implemented, can also pave the way for a revitalisation of the ‘paused’ EU-ASEAN talks, in which issues related to services were most controversial. Furthermore, it should also be seen in the global context of parallel and overlapping existing agreements or proposed talks, e.g. FTAAP, RCEP, TTIP and TPP, as well as the plurilateral TiSA initiative. In this respect, it can also be considered a test of the EU ‘Global Europe’ initiative, launched in 2006, and its follow-up communications from the Commission—the latest so far by the ‘Trade-for-All’ document in October 2015. The paper takes a combined policy- and firm-level approach, by investigating the already reached as well as the potential future impacts by the actors at both sides of the agreement through interviews with diplomatic officials representing EU, ASEAN and separate member-states within both parties, as well as with EU-originated service firms operating in Singapore. A major conclusion is that the business sector sees little direct impact of the future FTA, and that most companies stick to an ‘ad-hoc’ approach to meet and to overcome trade barriers rather than building a comprehensive strategy regarding how to behave after that the agreement has come into force. On the other hand, most companies are positive to the agreement as such but would welcome resumed EU-ASEAN talks, since the most troublesome remaining barriers are related to doing business with neighbouring countries in the region, using Singapore as the hub for transfer of knowledge-based services.

Review of Trade-Related Investment Measures: Theory and Applications

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Trade-Related Investment Measures: Theory and Applications‡ by Chi-Chur Chao and Eden S. H. Yu London: Imperial College Press, 2014

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Trips & Trims: General Principles

The Agreement on Trade-Related Aspects of Intellectual Property Rights (“TRIPS Agreement”) is the first WTO agreement requiring Members to establish a relatively detailed set of substantive norms within their national legal systems, as well as requiring them to establish enforcement measures and procedures meeting minimum standards. The TRIPS Agreement is sometimes referred to as the first WTO agreement that prescribes “positive law”. This factor alone might account for a more than typical level of controversy as the Members deal, in many cases, with adopting rather far-reaching changes to their national legal systems. Prior to the Uruguay Round negotiations (1986-1994) that resulted in a well-rounded Agreement on Trade-Related Investment Measures (“TRIMs Agreement”), only a few international agreements provided disciplines for measures restricting foreign investment and provided limited guidance in terms of content and country coverage. The OECD Code on Liberalisation of Capital Movements, for example, requires Members to liberalize restrictions on direct investment in a broad range of areas. The OECD Code’s efficacy, however, is limited by the numerous reservations made by each of the Members.

Challenges Facing India's National Solar Energy Development: The Pitfalls of the National Solar Mission and Alternatives Available

In this paper, I argue that domestic content requirements should be removed from India’s Jawaharlal Nehru National Solar Mission (National Solar Mission or Mission) because such requirements are inconsistent with India’s multilateral obligations under the World Trade Organization (WTO). Subsidies that are contingent upon the use of domestic instead of foreign products are inconsistent with the WTO’s Agreement on Subsidies and Countervailing Measures (SCM Agreement) and the National Treatment obligation under Article III of the General Agreement on Tariffs and Trade (GATT) and Article 2 of the Agreement on Trade Related Investment Measures (TRIMs Agreement). The Government of India (or India) should seek alternative measures to promote the development of the country’s renewable energy industries.Governments have recently responded to the impact of climate change and global warming in various ways, from instituting domestic regulatory measures to entering into multilateral agreements with an aim to cut global emissions of greenhouse gases. One of the leading contributors to global warming is the burning of fossil fuels for energy consumption. Fossil fuels not only hurt the environment, they are also non-renewable. Eventually these fuel sources will be depleted. With this in mind, governments have actively attempted to develop renewable energy alternatives that have little to no impact on the environment.To accomplish these goals, many governments across the globe have implemented subsidy schemes to promote renewable energy development within their countries. Many of these subsidy schemes require renewable energy producers to use a certain amount of local resources and labor in order to qualify for the subsidy schemes. While these programs would have the intended effect of developing renewable energy industries within a country, the programs are susceptible to challenges under the WTO. This paper examines why the domestic content requirements of India’s National Solar Mission are inconsistent with India’s WTO obligations and suggests alternative measures available to India that are not susceptible to challenges at the WTO.

GFT - SYNTHESIS - The uneasy relationship between international trade and agriculture

In his 2006 book, Food is Different, Peter Rosset posited we “get agriculture out of the [World Trade Organization] WTO”. This contention, which is the rallying cry for the Food Sovereignty movement, is that the WTO should not have any purview over agriculture and by extension food systems. Getting the WTO out of agriculture encompasses not only dismantling the 1994 Agreement on Agriculture, which governs both global food trade and extends to national food policies, but also nullifying the entire suite of WTO agreements that apply to various aspects of agriculture, including the Agreement on Trade-Related Intellectual Property Rights (TRIPS), and the Agreement on Trade-Related Investment Measures (TRIMS) (see Burnett & Murphy, 2014). For activists, policymakers, and scholars who take a firm stance of resistance to the WTO, there is no room for compromise with the institution. From this standpoint, the WTO cannot be transformed into a legitimate space to govern international food trade. The underlying concerns motivating much global civil society resistance to agriculture being governed under the WTO are well documented in the papers in this collection and were discussed at length by participants at the workshop in Waterloo.

Multilateral Agreements on Investment: Lessons from the Past and the Road Ahead

A multilateral agreement on investment (MAI) is an agreement between sovereign states which is meant to safeguard the investments that companies undertake in foreign countries. Given the importance of foreign direct investment, one would expect to find such an agreement on the top of every international organization’s agenda. The OECD started negotiations for such agreement in 1995 and the newly established WTO set up a working group in 1996 regarding the same. At that time, however, those attempts failed. The negotiations at the OECD were suspended in 1998 and the WTO did not move beyond TRIMS, the Agreement on Trade-Related Investment Measures that is limited, to the subset of trade-related investments. The study traces the history of International Investment Agreements, along with their features, advantages and disadvantages. The paper takes at the chronology of the events which led to the failure of MAI. The analysis concludes with the road ahead for multilateral agreements on investment.

To What Extent can the U.S. BIT Model ( 2012 ) Approach Resolve Business Disputes ?

Bilateral Investment Treaty ( BIT ) | Foreign Direct Investment ( FDI ) | Trade-Related Investment Measures ( TRIMS ) | International Center for the Settlement of Investment Disputes ( ICSID ) | Investor-state Dispute Settlement ( ISDS ) | United Nations Conference on Trade and Development ( UNCTAD ) | Association of South-East Asian Nations ( ASEAN ) | Trans-Pacific Partnership (TPP) and Umbrella Clauses