Articles 5 (national treatment) or 6 (MFN treatment) should not be construed as preventing a Member State from adopting or maintaining a measure imposing specific investment formalities, including the requirement that investments be legally constituted or adopted according to the laws or regulations of the Member State, and compliance with registration requirements, provided that these formalities do not significantly affect the rights that one Member State grants to investors in another Member State and the investments provided for in this agreement. 170 ASEAN Declaration on the Protection and Promotion of the Rights of Migrant Workers, adopted by the Heads of State and Government on 13 January 2007, online: («DRMW») – («DRMW») >Google Scholar. Full protection and full security require each Member State to take the reasonably necessary measures to ensure the protection and security of covered investments. Investor-State Dispute Resolution Mechanisms (IDRS) and the promotion of alternative dispute resolution methods are another valuable element of the CFIA. ASEAN investors can resolve disputes through the use of national courts, international arbitration, including ICSID, UNCITRAL and other agreed rules, as well as other dispute resolution methods: mediation, conciliation, consultation and negotiation. A major investor must prove that he or she has suffered a loss or injury as a result of the breach of CFIA obligations in relation to the management, conduct, operation or sale or other disposal of a covered investment. In the event of disagreement over the CFIA`s interpretation, all parties must use the current ASEAN dispute resolution mechanism as part of the ASEAN Protocol on the Enhanced Dispute Resolution Mechanism. Any investor can freely and promptly make investment-related transfers to and from the ASEAN territory in which he has invested. These transfers can be made in freely usable currencies and at the market exchange rate at the time of transfer. In exceptional cases, this right may be limited by the application of the laws and procedures of the host country in good faith. B with regard to bankruptcy, insolvency, trading in securities and futures contracts, taxation and severance pay for employees. Two former ASEAN investment frameworks, the ASEAN Investment Zone Agreement (AIA) and the Investment Guarantee Agreements (IGA), form the basis of the ASEAN agreement on large-scale investment.
The CFIA is improving the two previous agreements in a number of areas: in the event of an investment dispute, the parties to the dispute first seek to resolve the dispute through consultations and negotiations, including the application of non-binding third-party procedures. These consultations are opened by a written request for consultation from the final investor to the Settlement Member State. make available to the public all laws, regulations and administrative guidelines of general application that concern or affect investments in the territory of the Member State; paragraph 2 (internal regulation) of the Financial Services Annex of the General Agreement on Trade in Services in Appendix 1B of the WTO Agreement («GATS») of Appendix 1B of the WTO Agreement («GCS») is integrated, mutatis mutandis, into this agreement and is an integral part of this agreement.
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- On 13 abril, 2021
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