Download tratamiento a la inversion extranjera en el ecuador

Ecuadorian IIA policy: a complex and
dynamic process
Dr. Gustavo Guerra B.
This presentation does not reflect the official position of Ecuadorian
government. It is a part of an interinstitutional work in progress.
Background and facts
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….international trends
Presidential Commission for Analysis of International
Treaties on Investment and Double Taxation (2003):
7 public entities + private representative.
New BIT model (2004 – 2009)
Presidential decision: suspend any negotiation and
evaluate to denounce all or some treaties. (2007)
Ecuador submitted a reservation to ICSID:
investment controversies on non renewable resources.
(2008)
Ecuador denounced 9 BITS and announced
renegotiations with the rest of treaty partners. (2008)
Regulatory reform
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BITS do not works as substitute for institutional
quality or economic conditions.
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New constitutional frame:
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Priority of national investment over foreign investment
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New rules on sovereignty over strategic resources (mineral,
oil) and special sectors (water, telecommunications)
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International dispute resolution limitation: only regional
forums.
Guidelines
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Systemic re approach to international policy: investment
is a economic policy issue.
Development dimension of investment (both national
and FDI). To foster Productive investment
Priority to linkages between economic integration and
commercial relationship (first trade later investment
flows)
Pragmatic decision: economic evaluation of role of BITs
(econometric mechanisms).
Conclusion: A new strategic scheme.
Alternative approach
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Previous measure: national legal framework will offer
protection and other guarantees to investment.
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Depending on each selected partner:
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Economic Promotion Agreements
Trade Promotion Agreements: investment chapter
Bilateral Investment PROMOTION Treaties
…a BIT
Themes of the proposal
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Components:
 Market access (WTO rules), national treatment to
investors
 Administrative facilitation
 Transparency rules
 Promotion of national investment incentives and
other programs.
 Institutional cooperation framework: bilateral
investment commission.