Full Trans-Pacific Partnership Text Released

Today, on 5th November 2015, New Zealand has released the text of the Trans-Pacific Partnership on behalf of the twelve member countries in its capacity as Depositary of the agreement.

The agreement will also be translated into French and Spanish language versions. Both steps, as well as the Government’s consideration of the final outcome from negotiations, will need to be completed before signature takes place.

Current status of the Agreement

TPP has not yet been signed or entered into force. Negotiations concluded on 5 October 2015.

 

Please follow the links for full text of TPP released today.

  1. Chapter Texts and Associated Annexes
  2. Market Access Offers and Country-Specific Annexes
  3. Side Instruments between Viet Nam and TPP countries

 

Text of the Trans-Pacific Partnership

The text of the Agreement was released by TPP Parties on 5 November 2015 and can be accessed by chapter below. The text will continue to undergo legal review and will be translated into French and Spanish language versions prior to signature.

Preamble [PDF, 21KB]

1. Initial Provisions and General Definitions [PDF, 61KB]

  • The Chapter includes the following Annex:
    • Annex 1-A: Party-Specific Definitions

2. National Treatment and Market Access for Goods [PDF, 520KB]

3. Rules of Origin and Origin Procedures [PDF, 155KB]

4. Textiles and Apparel [PDF, 70KB]

5. Customs Administration and Trade Facilitation [PDF, 59KB]

6. Trade Remedies [PDF, 52KB]

  • The Chapter includes the following Annex:
    • Annex 6-A: Practices Relating to Antidumping and Countervailing Duty Proceedings

7. Sanitary and Phytosanitary Measures [PDF, 92KB]

8. Technical Barriers to Trade [PDF, 198KB]

  • The Chapter includes the following Annexes:
    • Annex 8-A: Wine and Distilled Spirits
    • Annex 8-B: Information and Communications Technology Products
    • Annex 8-C: Pharmaceuticals
    • Annex 8-D: Cosmetics
    • Annex 8-E: Medical Devices
    • Annex 8-F: Proprietary Formulas for Pre-packaged Foods and Food Additives
    • Annex 8-G: Organic Products

9. Investment [PDF, 262KB]

  • This Chapter includes the following Annexes:
    • Annex 9-A: Customary International Law
    • Annex 9-B: Expropriation
    • Annex 9-C: Expropriation Relating to Land
    • Annex 9-D: Service of Documents on a Party Under Section B (Investor State Dispute Settlement)
    • Annex 9-E: Transfers
    • Annex 9-F: DL-600
    • Annex 9-G: Public Debt
    • Annex 9-H
    • Annex 9-I: Non-Conforming Measures Ratchet Mechanism
    • Annex 9-J: Submission of a Claim to Arbitration
    • Annex 9-K: Submission of Certain Claims for Three Years After Entry into Force
    • Annex 9-L: Investment Agreements
  • Drafters’ Note on Interpretation of In Like Circumstances [PDF, 43KB]
  •  See country-specific Annexes to the Agreement

10. Cross-Border Trade in Services [PDF, 126KB]

  • The Chapter includes the following Annexes:
    • Annex 10-A: Professional Services
    • Annex 10-B: Express Delivery Services
    • Annex 10-C: Non-Conforming Measures Ratchet Mechanism
  • See the country-specific Annexes to the Agreement

11. Financial Services [PDF, 251KB]

  • This Chapter includes the following Annexes:
    • Annex 11-A: Cross-Border Trade
    • Annex 11-B: Specific Commitments
    • Annex 11-C: Non-Conforming Measures Ratchet Mechanism
    • Annex 11-D: Authorities Responsible For Financial Services
    • Annex 11-E

See the country-specific Annexes to the Agreement

12. Temporary Entry for Business Persons [PDF, 43KB]

13. Telecommunications [PDF, 125KB]

  • This Chapter includes the following Annexes:
    • Annex 13-A: Rural Telephone Suppliers – United States
    • Annex 13-B: Rural Telephone Suppliers – Peru

14. Electronic Commerce [PDF, 60KB]

15. Government Procurement [PDF, 130KB]

16. Competition Policy [PDF, 44KB]

  • This Chapter includes the following Annex:
    • Annex 16-A: Application of Article 16.2, Article 16.3 and Article 16.4 to Brunei Darussalam

17. State-Owned Enterprises and Designated Monopolies [PDF, 221KB]

  • This Chapter includes the following Annexes:
    • Annex 17-A: Threshold Calculation
    • Annex 17-B: Process for Developing Information Concerning State-Owned Enterprises and Designated Monopolies
    • Annex 17-C: Further Negotiations
    • Annex 17-D: Application to Sub-Central State-Owned Enterprises
    • Annex 17-E: Singapore
    • Annex 17-F: Malaysia
    • Annex IV: Non-Conforming Activities
    • See country-specific Annexes to the Agreement

18. Intellectual Property [PDF, 411KB]

  • This Chapter includes the following Annexes:
    • Annex 18-A: Annex to Article 18.7.2 (International Agreements)
    • Annex 18-B: Annex to Article 18.50 (Protection of Undisclosed Test or Other Data) and Article 18.52 (Biologics)
    • Annex 18-C: Annex to Article 18.50 (Protection of Undisclosed Test or Other Data) and Article 18.52 (Biologics)
    • Annex 18-D: Annex to Article 18.46 (Patent Term Adjustments for Patent Office Delays), Article 18.48 (Patent Term Adjustment for Unreasonable Curtailment), Article 18.50 (Protection of Undisclosed Test or Other Data) and Article 18.52 (Biologics)
    • Annex 18-E: Annex to Section J (Internet Service Providers)
    • Annex 18-F: Annex to Section J (Internet Service Providers)

19. Labour [PDF, 73KB]

20. Environment [PDF, 170KB]

  • This Chapter includes the following Annexes:
    • Annex 20-A
    • Annex 20-B

21. Cooperation and Capacity Building [PDF, 27KB]

22. Competitiveness and Business Facilitation [PDF, 20KB]

23. Development [PDF, 33KB]

24. Small and Medium-Sized Enterprises [PDF, 21KB]

25. Regulatory Coherence [PDF, 39KB]

26. Transparency and Anti-Corruption [PDF, 88KB]

  • This Chapter includes the following Annex:
    • Annex 26-A Transparency and Procedural Fairness for Pharmaceutical Products and Medical Devices

27. Administrative and Institutional Provisions [PDF, 34KB]

28. Dispute Settlement [PDF, 105KB]

29. Exceptions and General Provisions [PDF, 62KB]

30. Final Provisions [PDF, 29KB]

 

Zip file of all 30 Chapters (excluding Annexes) [ZIP, 3.15MB]

 

Text of the Trans-Pacific Partnership – Annexes

The text of the Agreement was released by TPP Parties on 5 November 2015. The text will continue to undergo legal review and will be translated into French and Spanish language versions prior to signature.

Annex I – Cross-Border Trade in Services and Investment Non-Conforming Measures

Annex II – Cross-Border Trade in Services and Investment Non-Conforming Measures

Annex III – Financial Services Non-Conforming Measures

Annex IV – State-Owned Enterprises and Designated Monopolies Non-Conforming Measures

Side Instruments between Viet Nam and TPP countries

 
By Vietnam Law Insight

Disclaimer: This Briefing is for information purposes only. Its contents do not constitute legal advice and should not be regarded as detailed advice in individual cases. For more information, please contact us at info@LNTpartners.com

Công bố toàn văn Hiệp định Đối tác xuyên Thái Bình Dương (TPP)

(MOIT) – Theo thông lệ đàm phán thương mại quốc tế, một hiệp định sẽ chỉ được công bố sau khi các Bên tham gia đàm phán đã hoàn tất thủ tục rà soát pháp lý. Tuy nhiên, trước nhu cầu tìm hiểu thông tin rất lớn của người dân và doanh nghiệp, các nước tham gia đàm phán Hiệp định Đối tác xuyên Thái Bình Dương (TPP) đã quyết định công bố toàn văn Hiệp định TPP mặc dù thủ tục rà soát pháp lý vẫn chưa hoàn tất.

Các nước TPP đã thống nhất giao Niu Di-lân (nước được giao nhiệm vụ lưu chiểu văn kiện của Hiệp định) công bố toàn văn Hiệp định vào chiều ngày 05 tháng 11 năm 2015 (giờ Hà Nội).

Bộ Công Thương xin trân trọng công bố toàn văn Hiệp định TPP (bản tiếng Anh) đã được các nước TPP thống nhất. Do quá trình rà soát pháp lý vẫn đang tiếp tục nên bản công bố lần này chưa phải là bản cuối cùng. Bản cuối cùng có thể sẽ có một số thay đổi nhưng chỉ là các chỉnh sửa về mặt kỹ thuật, không ảnh hưởng đến nội dung cam kết.

Ngoài các nội dung cam kết trong Hiệp định, trong quá trình đàm phán các nước TPP cũng đạt được một số thỏa thuận song phương. Do các thỏa thuận này chỉ liên quan đến các Bên ký kết nên sẽ được các Bên ký kết công bố riêng. Bộ Công Thương xin công bố kèm theo đây các thỏa thuận song phương mà Việt Nam đã thống nhất với một số nước TPP. Các thỏa thuận này sẽ có hiệu lực cùng thời điểm với Hiệp định TPP.

Do các nước TPP vẫn đang tiến hành thủ tục rà soát pháp lý, khối lượng tài liệu phải biên dịch lại rất lớn nên Bộ Công Thương và các Bộ, ngành chưa thể công bố kèm theo bản dịch tiếng Việt của Hiệp định TPP. Để đáp ứng yêu cầu của người dân và doanh nghiệp, Bộ Công Thương sẽ tích cực phối hợp với các Bộ, ngành nhanh chóng hoàn tất công việc dịch thuật và công bố bản dịch tiếng Việt trong thời gian sớm nhất.

Sau khi công bố toàn văn Hiệp định, các nước TPP sẽ nhanh chóng hoàn tất thủ tục rà soát pháp lý để chuẩn bị cho việc ký kết Hiệp định. Mỗi nước, theo quy định của pháp luật nước mình, sẽ dành thời gian nhất định để người dân nghiên cứu Hiệp định trước khi ký kết, dao động từ 60 đến 90 ngày. Sau khoảng thời gian này, các nước TPP sẽ tiến hành ký kết chính thức. Thời điểm ký kết chính thức Hiệp định hiện chưa được xác định nhưng dự kiến sẽ không muộn hơn quý I năm 2016. Sau khi ký chính thức, các nước sẽ tiến hành thủ tục phê chuẩn Hiệp định theo quy định của pháp luật nước mình.

Please follow the links for full text of TPP released today.

  1. Chapter Texts and Associated Annexes
  2. Market Access Offers and Country-Specific Annexes
  3. Side Instruments between Viet Nam and TPP countries

 

Specific links

I. Chapter Texts and Associated Annexes

II. Market Access Offers and Country-Specific Annexes

III. Side Instruments between Viet Nam and TPP countries

Theo Website chính thức của Bộ Công Thương

By Vietnam Law Insight

Disclaimer: This Briefing is for information purposes only. Its contents do not constitute legal advice and should not be regarded as detailed advice in individual cases. For more information, please contact us at info@LNTpartners.com

Vietnam, FDI and the TPP ISDS: a Tentative Look

The Trans-Pacific Partnership Agreement (“TPP”) is a multilateral agreement currently being negotiated that, when finally agreed, will encompass approximately 40% of the worlds GDP under a new generation of multilateral economic governance that is focusing on competition policy, labour rights, international investment law and the harmonization of other areas of law and aimed at boosting trade, investment and economic growth between members, who at the advanced negotiation stage include Japan, the USA, Vietnam, Australia, Singapore, Brunei, Malaysia, New Zealand, Chile and Peru, with Canada and Mexico interested in joining. One of the most controversial aspects of the negotiations is that they are largely being held behind closed doors – with only limited information on draft chapters being released through memorandums, or via the medium of Wikileaks, hence why this short article is a tentative look – a detailed analysis at this stage is not possible until the final draft is released or leaked, which will not be for some time yet. This lack of transparency has helped foster strong opposition to the agreement before even considering the provisions contained within. This article considers some implications of the TPP’s Investor-State Dispute Settlement (“ISDS”) for investors of inward and outward FDI in Vietnam.

Opposing views mean uncertainty for ISDS in TPP

The ISDS provisions of the TPP have both strong support, and strong disapproval. The strong support comes primarily from the Japanese and US governments and firms that see the ISDS as crucial to the success of the TPP, and the need to protect their investment interests particularly in the SE Asian parties to the agreement. On the opposing side, with a particularly vitriol response is Australia, which has undergone a unique policy shift among developed countries and chosen to accommodate anti-ISDS voices, arguing that it ISDS is a threat to domestic rule of law and has an undermining effect on national judiciary systems. In light of this, Australia has become a proponent to abandoning the ISDS mechanism in the TPP. While the inclusion of an ISDS is still highly likely to be included as part of the agreement – with the USA pressuring opponent parties to endorse the ISDS – and arguing that there won’t be a TPP without it, there is still uncertainty around how the final draft of the TPP will be structured.

ISDS could bring new forms of investment to Vietnam

The inclusion of ISDS into the TPP agreement could have the effect further reducing the risk associated with foreign investment, which could encourage companies from developed countries party to the TPP such as those in the US, to engage in “discretionary” outsourcing, this refers to foreign investment that does not require a foreign presence to be successful (while “non-discretionary” investment outsourcing refers to investment that requires outsourcing to a foreign jurisdiction to be financially viable) , and to ensure performance, would usually be kept in the home country jurisdiction where investment is less risk averse. Such investment can include high quality manufacturing, research and development and others. This discretionary investment could further raise investor confidence in Vietnam as a destination for high tech, R&D and other forms of investment.

Vietnamese outward investment could be boosted

2014 was regarded as a bumper year for Vietnamese outward FDI, with approximately US$1 billion going to 129 projects around the world. While the biggest recipients of Vietnamese FDI have been Myanmar and Cambodia, the US and Singapore were also destinations, both of whom are parties to the TPP negotiations. This suggests that Vietnamese firms would be able to benefit from the ISDS mechanisms. While the US and Singapore have highly developed legal frameworks for the enforcement of foreign arbitral awards; both countries and Vietnam are indeed party to the New York Convention, this could seek to enhance Vietnamese enterprises’ access to a neutral ISDS mechanism. The wide scope of the Japanese and American positions on ISDS covering all major contracts between foreign investors and the host state, if agreed, could protect many forms of Vietnamese FDI to the US and Singapore.

A potential Appellate structure could enhance ISDS for investors

Although not confirmed as yet, the US has taken a leading role in the TPP negotiations in calling for an Appellate structure to the TPP ISDS. Such a mechanism has been widely promoted in US-led international investment agreements, and is included in the US model BIT as a review mechanism. Furthermore, the International Centre for Settlement of Investment Disputes (“ICSID”) secretariat has also considered reform to include an Appellate structure for reviewing arbitral awards. Such a mechanism in the TPP ISDS could have two implications for investors. Firstly, such a structure could harmonize the interpretation of the TPP treaty text, and allow for the correction of awards from the many private commercial arbitration institutions from different jurisdictions that contain different rules of interpretation, and provide a more legitimate investment framework for investors. Indeed, the basis behind the ICSID Appellate structure was to achieve the aforementioned.

Summation

This short look at some of the potential implications on both inward and outward investors in Vietnam suggests that there will be benefits to the international framework for investment in the region that will have the effect of boosting investor confidence between TPP members, on the back of a re-energized ISDS mechanism. With suggests that such negotiations are at an “advanced stage”, it is likely that more aspects of the agreement will be made public in the months to follow.

Bibliography

  • Sappideen, R. Ling Ling, He. ‘Investor-state Arbitration: The Roadmap from the Multilateral Agreement on Investment to the Trans-Pacific Partnership Agreement’, 40 Fed. L. Rev. 207 2012
  • Cai, Congyan. ‘Trans-Pacific Partnership and the Multilateralization of International Investment Law’, 6 J. E. Asia & Int’l. L. 385 2013
  • Ikenson, D. ‘A Compromise to Advance the Trade Agenda: Purge Negotiations of Investor-State Dispute Settlement’, 57 Free Trade Bulletin 2014
  • Mayer Brown JSM ‘A Guide to doing business in Vietnam’ 2015
  • Mayer Brown JSM ‘Will Vietnam Sink or Swim Amid a Proliferation of FTA?’ International Trade Asia, 2015
  • http://www.talkvietnam.com/2015/02/vietnams-outward-fdi-is-the-tide-turning/ Accessed 7/4/15
  • http://kluwerarbitrationblog.com/blog/2011/05/11/reconsidering-icsid-awards/ Accessed 7/4/15

By Joseph McDonnell – Vietnam Law Insight.

Disclaimer: This Briefing is for information purposes only. Its contents do not constitute legal advice and should not be regarded as detailed advice in individual cases. For more information, please contact us or visit the website: Http://LNTpartners.com