There are numerous regional agreements among developing countries. They aim to tear down the trade and investment barriers between and among their members. Moreover, they adopt competition policy and free movement policy to free their internal markets of private and state restraints to achieve market integration, efficiency, opportunity, competitiveness, and a higher standard of living. But most of these regional arrangements do not live up to their potential. Competition policy lags. Why? Reasons commonly given include asymmetry of the member states and their interests, lack of funding and sources for it, large informal markets, governance not sympathetic to competition, and corrupt leadership of nations set on retaining power and privilege. But two critical elements are virtually always overlooked, and unless they are recognized and prioritized, the hope of the regional agreements will never be realized.
Whatever their level of evolution in competition regulation, developing countries, particularly African countries except for a few rare success stories such as South Africa, need to interrogate their RCRs and national competition laws. Countries without a competition regime or law have the advantage of avoiding the Washington Consensus trap and forging a national competition law tailored to their development goals
The report has been commissioned by Fairtrade Germany and Fairtrade Austria with the purpose to gather food for thought for a policy position of Fairtrade on trade policy by looking critically into presumptions, theories and ideologies and glean some ideas off the mainstream. It is conducted by combining legal expertise in the area of international economic law with the expertise, knowledges, visions, opinions and aspirations of multiple actors who are active in the Fair Trade movement or have been reflecting on how to transform international trade and investment in light of the multiple social and environmental crises. The views expressed in this report do not represent the current thinking or attitudes of Fairtrade and are in the sole responsibility of its authors.
To address the idea of sustainability in the allocation of profits, two aspects are required: on the one hand, there is a need for a sustainability index, and on the other hand, there is a need for standardised sustainability indicators that are determined and published by companies worldwide. For developing countries, this should mean to be a frontrunner in this development and push forward the idea, always keeping in mind the risks but also chances of a sustainability in substance approach.
To mark the 2021 International Women’s Day themed #Choose to Challenge, Afronomicslaw.org celebrates Dr Dilini Pathirana’s brilliant contributions to International Investment Law. Dr Pathirana is a Senior Lecturer at University of Colombo, a founding committee member of South Asia International Economic Law Network (SAIELN), an editorial board member of Sri Lanka Journal of International Law (SLJIL) and a contributing editor on Afronomicslaw.org.
Probably buoyed by its relatively open-ended nature, the fair and equitable standard (FET) of protection of foreign investors has become a much more invoked arsenal than the claim of direct or indirect expropriation. As Professor Sornarajah notes in his foreword to the book, very few scholars have dealt with the impact that the relatively opaque, if not expansive interpretations of the FET standard by arbitrators has had on the host States, particularly those from the global South. Professor Rumana Islam’s work is a notable exception to this.
The Afronomicslaw Academic Forum had a very active 2020/2021. This post includes a summary of the key projects undertaken by the Academic Forum during this period. One of the flagship activities was participation in the United Nations Policy Hackathon Competition.
This article reviews the policy advancements on digital taxation, the individual initiatives that some developed countries have enacted, and considers some recommendations for developing countries to address future changes. It also contains a brief analysis of the Ecuadorian VAT reform for digital services and other possible options that need to be considered by the country.
Developed and developing countries have committed to implement global standards as developed by the OECD with the political mandate of the G20 including standards that provide for exchange of information among tax administrations. Some of the reasons for this exchange to take place, is the need to provide tax administrations with the relevant information on taxpayer’s activities/assets abroad, as well as to ensure that taxpayers including multinationals pay their fair share of taxation. Exchange of information is the key instrument for tax administrations in order to prevent tax evasion, tax fraud, and aggressive tax planning.
Development, particularly in developing countries, in the current context requires thinking about how multiple global crises are interlinked, their impact on development prospects, and the narrative framing needed to generate positive and progressive systemic policy change.