An Multilateral Agreement On Investment

793 WordsNov 18, 20154 Pages
Different countries have different concerns that need to be preserved through exception provisions. In drafting the Multilateral Agreement on Investment (MAI), France and Germany tended to introduce cultural exception to protect the domestic cultural industry, while the US proposed including national security, governmental subsidy, governmental procurement, and support for ethic minority into exceptions. The discrepancy on the content of exceptions constituted determinant accelerating the failure of MAI negotiation. Although each state’s regulatory space can be preserved at a maximum level through leaving the scope of exceptions to the hands of the states, different parties may have different explanations according to their own needs. For instance, measures protecting ‘public infrastructure’ constitute a form of security exception in both US and UK treaties but it is comprehended as ‘property, service and system’ in UK practice and ‘property and system’ in the US practice. Environmental security is a new form of national security in the US when the country suffered from pollution in the Northeast region, water shortage in the West, drought and forest fires and hurricanes in the coastal regions since 2009. But such situation may not appear to the other IITs parties. In addition, each governmental organ in the US has a definition of national security subject to its own objectives and national security covers widely including the security of US citizens abroad, the
Open Document