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Continued from page 32 maintaining the very important goals of the MAI". He suggests that the reference to and share relevant information.” NAFTA Section 114.1 in the MAI draft Stigson wrote to OECD official Don already "ensures all stakeholders a bal- Johnston, expressing his concern about the anced implementation of the agreement in inclusion of binding language on environ- dispute resolution processes". This, how- mental standards in the MAI, and, in the _ ever, is hardly reassuring. This very clause same letter, he generally promotes the did not prevent the US Ethyl Corporation WBCSD's gospel of business self-regula- from challenging a Canadian environmen- tion.” tal law as an expropriation in a NAFTA Quoting Agenda 21,” Stigson argues that —_ court last year. "trade liberalisation is a positive force for In his letter, Stigson expresses strong supporting the most environmentally and _ reservations about a provision under which economically efficient use of goods and countries would obligate themselves not to resources, and hence for contributing to reduce their environmental standards in sustainable development". order to attract or maintain investments, be He then concludes that "investment liber- it non-binding or mandatory. He does not alisation is a close relative of trade liberali- altogether reject mandatory provisions, sation, and can be expected to produce a __ provided these can really be enforced and similar positive impact". He expects that will bring clear benefits. Stigson also the greatest benefits will arise from the _ recognises that the MAI could encourage inclusion of Third World countries in the companies to shift investment to pollution MAI. havens. Stigson acknowledges possible conflicts Rather than including environmental between new environmental regulation and standards for investments in the MAI, he the MAI, and suggests these could be suggests the WBCSD 'solution' of "sound solved by "making explicit the types of | environmental management systems as an assurances that business and many negotia- alternative to command and control envi- tors say is already in the agreement, while ronmental standard setting". oo Endnotes 46. Chakravarthi Raghavan, Third World Network Features, 1404/96, p. 1. 47. Chakravarthi Raghavan, Third World Network Features, 1527/96. 48. The eight countries were Egypt, Ghana, Haiti, India, Indonesia, Malaysia, Tanzania and Uganda. The position of the eight countries was later echoed by the 11 trade ministers of the Southern African Development Community (SADC). Source: Martin Khor, Third World Network Features, 546/96, p. 5. 49. Idem, p. 4. 50. Idem. 51. "The Outcome of Singapore: Statement by Sir Leon Brittan, Vice-President of the EU Commission", IP/96/1172, 13 December 1996. 52. Martin Khor, Third World Network Features, 1547/96, p. 4. 53. Interview with Mr Koulen, WTO Division for Intellectual Property Rights and Investment, 30 January 1998. 54. Report (1997) to the General Council. 55. "Investment Liberalisation: A New Issue for the WTO", Address by the Right Honourable Sir Leon Brittan, Vice-President of the European Commission, Cologne, 11 June 1996. 56. "World business urges global investment pact", ICC statement from 11 November 1996. The World Investment Forum took place on 10 October 1996 in Geneva, Switzerland. 57. The Nation, 24 December 1997. 58. The Chambers of Commerce are organised in the International Bureau of Chambers of Commerce (IBCC). 59. Interview on 29 January 1998 with Vincent J. O'Brien, Deputy Director of Communications, ICC. 60. ICC, "The World Business Organization in and share relevant information.” Stigson wrote to OECD official Don Johnston, expressing his concern about the inclusion of binding language on environ- mental standards in the MAI, and, in the same letter, he generally promotes the WBCSD's gospel of business self-regula- tion.” Quoting Agenda 21,” Stigson argues that "trade liberalisation is a positive force for supporting the most environmentally and economically efficient use of goods and resources, and hence for contributing to sustainable development". He then concludes that "investment liber- alisation is a close relative of trade liberali- sation, and can be expected to produce a similar positive impact". He expects that the greatest benefits will arise from the inclusion of Third World countries in the MAI. Stigson acknowledges possible conflicts between new environmental regulation and the MAI, and suggests these could be solved by "making explicit the types of assurances that business and many negotia- tors say is already in the agreement, while JUNE - JULY 1998 NEXUS - 85 MAIGaLomania! The Multilateral Agreement on Investment