Multilateral Agreement

Some regional trade agreements are multilateral. The most important was the North American Free Trade Agreement (NAFTA), ratified on January 1, 1994. NAFTA quadrupled trade between the United States, Canada and Mexico from 1993 to 2018. The Agreement between the United States, Mexico and Canada (USMCA) entered into force on July 1, 2020. The USMCA was a new trade deal between the three countries, negotiated under President Donald Trump. Letter and agreement in English (reissued), display in Spanish When approving the negotiations, the OECD Council of Ministers sought to establish a “broad multilateral framework for international investment, with high standards for the liberalization of investment regimes and investment protection, as well as through effective dispute settlement procedures”. [6] The aim was to create more consistent, secure and stable investment conditions and to regulate investments in a more consistent, transparent and enforceable manner. Although the agreement is negotiated between Member States, an open agreement should be agreed to which non-OECD members have been able to accede on the basis of negotiations. [3] The Multilateral Agreement on Investment (MAI) was a draft agreement negotiated in secret between the members of the Organisation for Economic Co-operation and Development (OECD) between 1995 and 1998. [1] It sought to create a new body of universal investment laws that would give companies unconditional rights to financial transactions around the world, regardless of national laws and civil rights. The project gave companies the right to sue governments when national health, labor or environmental laws threatened their interests. When his draft was published in 1997, it drew a lot of criticism from civil society groups and developing countries, not least because of the possibility that the agreement would complicate the regulation of foreign investors.