POLICY BRIEF 13-1

The World Needs a Multilateral Investment Agreement

by Anders Aslund, Peterson Institute for International Economics

January 2013

A gaping hole in the current global economic architecture is the absence of a multilateral agreement on foreign direct investment (FDI). A multilateral investment agreement (MIA) was discussed extensively from 1970 to 1998 but never concluded. However, the need for such an agreement has increased in the last decade. FDI has grown substantially and now flows in both directions between developed and developing countries, with multinational corporations (MNCs) hailing from all parts of the world. The numerous bilateral investment treaties warrant an international standardized set of rules for FDI. With investment now clearly identified with MNCs and integrated with trade, the World Trade Organization has emerged as a natural home of an MIA.

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RELATED LINKS

Book: Foreign Direct Investment in the United States: Benefits, Suspicions, and Risks with Special Attention to FDI from China August 2013

Book: Outward Foreign Direct Investment and US Exports, Jobs, and R&D: Implications for US Policy August 2013

Working Paper 12-16: Transactions: A New Look at Services Sector Foreign Direct Investment in Asia October 2012

Working Paper 08-7: Policy Liberalization and FDI Growth, 1982 to 2006 August 2008

Op-ed: Avoiding Another Dubai February 28, 2006

Book: Does Foreign Direct Investment Promote Development? May 2005



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