An APEC or multilateral investment code?

Abstract

This paper considers whether there should be an international investment code and, if so, whether it should be a regional code for the Asia Pacific Economic Cooperation (APEC) countries or a multilateral code. The APEC Eminent Persons Group recommended to APEC in October 1993 that there should be an Asia-Pacific Investment Code to regulate direct foreign investment in the region. On the other hand, there is already substantial regulation of international investment at the bilateral, regional and multilateral levels and other proposals for increased regulation are under consideration in the OECD and other fora. This paper argues that, in the long term, a Code under the World Trade Organisatio..