APEC seeks to resolve disputes with investors

APEC seeks to resolve disputes with investors

Investment Expert's Group APEC. (apec.org)

Jakarta, (ANTARA News) - Investment experts from across the Asia-Pacific Economic Cooperation (APEC) region convened in Santiago, Chile, to discuss strategies on strengthening the investment climate, one of which is by preventing and resolving disputes with investors.

It was noted in a written statement issued by the APEC Investment Experts Group and received here on Tuesday.

APEC economic members will strive to prevent and resolve disputes with investors by ensuring transparency and scrutiny of policy and decision-making processes, incorporating gender issues in investment policy, and revising or reconsidering hundreds of outdated treaties.

"Coherence of policies always help to attract and retain investment. I am optimistic, as investment is a cross-cutting issue that will help implement the priorities that Chile has set for 2019," Tania Pierotic Mendia, chair of the APEC Investment Experts Group, stated.

The APEC forum allows economies to share their diverse experiences and initiatives as well as learn from each other. The working group will soon also have a handbook for managing investment commitments.

"This is expected to help governments better manage investment disputes," Mendia stated.

Investment is a leading driver of economic growth, and the APEC region relies on it to remain resilient against global economic shocks.

In 2018, East Asia and Southeast Asia comprised one-third of the global foreign direct investment. In Australia, one in 10 jobs is directly supported by investment.

Investment is an over-arching issue, integral to the region`s growth trajectory and complementary to all the priorities of APEC 2019. Harmonization of the now-fragmented investment regimes, according to some economies, can improve regulatory certainty that is essential to investor confidence.

Chile hosts APEC in 2019 under the theme of "Connecting People, Building the Future."

Editing by Fardah A