Agreement on Investment of the Framework Agreement on Comprehensive Economic Co-operation between the Association of Southeast Asian Nations and the People's Republic of China
中华人民共和国与东南亚国家联盟全面经济合作框架协议投资协议
ສັນຍາ ວ່າ ດ້ວຍ ການ ລົງທຶນ ຂອງ ສັນຍາ ກອບ ວ່າ ດ້ວຍ ການ ຮ່ວມ ມື ດ້ານ ເສດຖະກິດ ຢ່າງ ຮອບ ດ້ານ ລະຫວ່າງ ສະມາຄົມ ປະຊາຊາດ ອາຊີ ຕາເວັນ ອອກ ສຽງ ໃຕ້ (ອາຊຽນ) ກັບ ສາທາລະນະລັດ ປະຊາຊົນ ຈີນ
Summary
This Agreement on Investment, concluded under the Framework Agreement on Comprehensive Economic Co-operation between ASEAN and China, was signed at Bangkok, Thailand on 15 August 2009 by China and the ten ASEAN Member States (Brunei, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand and Viet Nam) and entered into force on 1 January 2010, forming the investment pillar of the ASEAN-China Free Trade Area. It aims to promote investment flows and create a liberal, facilitative, transparent and competitive investment regime (Article 2). Core protections include national treatment (Article 4), most-favoured-nation treatment (Article 5), fair and equitable treatment and full protection and security (Article 7); expropriation must be for a public purpose, under due process, non-discriminatory and against compensation at fair market value (Article 8); compensation for losses (Article 9); free transfer of returns (Article 10); balance-of-payments safeguards (Article 11); and subrogation (Article 12). Dispute settlement operates on two levels: State-to-State disputes follow the Framework Agreement's dispute settlement mechanism (Article 13), while investor-State disputes, after a six-month consultation period, may at the investor's choice go to the host State's courts, ICSID, the ICSID Additional Facility Rules, UNCITRAL arbitration, or any other agreed forum (Article 14), subject to a three-year limitation and a ninety-day prior written notice. It also contains denial of benefits (Article 15), general and security exceptions (Articles 16-17), transparency (Article 19), investment promotion and facilitation (Articles 20-21) and institutional arrangements (Article 22). For Chinese investors in Laos and Lao investors in China it is an important multilateral basis for claiming investment protection and access to ICSID/UNCITRAL arbitration, and it grants special and differential treatment and flexibility to newer ASEAN Member States such as Cambodia, Lao PDR, Myanmar and Viet Nam.
Articles
Article 0
(Note: the opening part of the preamble in the authentic English scan source is truncated; the following is the faithful text of the preamble as visible in the source.)
...transparency of investment rules and regulations, and provide for the protection of investments;
NOTING that the Framework Agreement recognised the different stages and pace of development among the Parties and the need for special and differential treatment and flexibility for the newer ASEAN Member States of Cambodia, Lao PDR, Myanmar and Viet Nam;
REAFFIRMING the Parties' commitment to establish the ASEAN-China Free Trade Area within the specified timeframes, while allowing flexibility to the Parties to address their sensitive areas as provided in the Framework Agreement, in the realisation of the sustainable economic growth and development goals on the basis of equality and mutual benefits so as to achieve a win-win outcome;
REAFFIRMING further the rights, obligations and undertakings of each Party under the World Trade Organization ("WTO"), and other multilateral, regional and bilateral agreements and arrangements,
HAVE AGREED AS FOLLOWS:
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