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Investment Agreements in the Western Hemisphere: A Compendium

Trade and Integration Agreements


III. Treatment | A. Standards | 5. Most-Favored-Nation Treatment

North American Free Trade Agreement (NAFTA)

Each Party shall accord to investors of another Party treatment no less favorable than that it accords, in like circumstances, to investors of any other Party or of a non-Party with respect to the establishment, acquisition, expansion, management, conduct, operation, and sale or other disposition of investments. (Article 1103(1)).

Each Party shall accord to investments of investors of another Party treatment no less favorable than that it accords, in like circumstances, to investments of investors of any other Party or of a non-Party with respect to the establishment, acquisition, expansion, management, conduct, operation and sale or other disposition of investments. (Article 1103(2)).

Each Party shall accord to investors of another Party and to investments of investors of another Party the better of either national treatment (Article 1102) or most-favored-nation treatment (Article 1103)). (Article 1104).

Free Trade Agreement of the Group of Three among Mexico, Colombia, and Venezuela (Group of Three)

Each Party shall grant investors of another Party, and to their investments, treatment no less favorable than that it accords, in like circumstances, to investors, and their investments, of another Party or of a non-Party. (Article 17-03(2)).

Common Market of the South (MERCOSUR)

Members:
Each Contracting Party shall accord to investments of investors of another Contracting Party treatment which is no less favorable than that accorded to investments of third States. (Article 3(2) of the Protocol of Colonia).

Non-Members:
Each Member Party may accord to investments of investors of third States treatment no less favorable than that accorded to investments of investors of other States. (Article 2(C)(2) of the Buenos Aires Protocol ).

Andean Pact


Caribbean Community and the Caribbean Common Market (CARICOM)

Each Member State recognizes that restrictions on the establishment and operation of economic enterprises therein by nationals of other Member States should not be applied, through accord to such persons of treatment which is less favorable than accorded in such matters to nationals of that Member State, in such a way as to frustrate the benefits expected from such removal or absence of duties and quantitative restrictions as is required by this Annex. (Treaty of Chaguaramas, Caribbean Common Market Annex, Article 35 (1)).

Member States shall not apply new restrictions in such a way that they conflict with the principles set out above. (Article 35 (2)).

Based on evolving international practices and current national aspirations, cooperation agreements on foreign investments shall tend to accord preferential treatment to the following groupings of entities, ranked as follows:
1. Nationals of the host Caricom country;
2. Nationals of other Caricom member countries;
3. Nationals of the source countries- both developed and developing;
4. Other countries.
(Caricom Heads of Government Conference, 1982; see HGC 82/3/17 Attachment IV).

 
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