USCIB Senior Advisor Shaun Donnelly was up early on Thanksgiving morning, participating virtually as a panelist in the annual International Investment Agreements (IIA) Experts conference organized in Geneva by the UN Conference on Trade and Development (UNCTAD). This year’s conference focused on the theme of IIA reform in the time of COVID-19. Donnelly participated in six of the last seven annual conferences organized by UNCTAD on international trade agreements.
In addition to his role as a panelist, Donnelly submitted a short written statement and a three-minute video message.
“Our main message was simple,” said Donnelly. “In a time of health and economic crisis, private foreign direct investment (FDI) is more important than ever to restoring global economic growth, trade and jobs.” According to Donnelly, investment agreements, including strong dispute settlement provisions can be a critical factor to incentivizing FDI flows.
Donnelly, a retired U.S. Ambassador and now a consultant to USCIB, also noted, “Unfortunately UNCTAD and many of the government and NGO speakers seem to share a view that FDI rules and IIAs need to be ‘reformed’ to reduce protections for investors and their access to independent arbitration to resolve investment disputes with host governments. We have a different view; incentivizing and protecting FDI is more important than ever as we all strive for global economic recovery. So it is for business to speak up and get its views on the table in these international investment policy session. I was pleased to be joined this year on my panel by Winand Quaedvlieg from VNO, our Dutch counterpart national association and Chair of the Investment Policy Committee at Business at OECD.”
UNCTAD’s link to the conference program presentations (including Donnelly’s) and documents.