Dilek Aykut and Andrea Goldstein online at http://www/un.org/csa/sustdcv/publications. 2 G-20 comprises India, China, Brazil, South Africa and others, which was formed prior to the Cancun Ministerial Conference in 2003. It displayed strength and unity of the developing countries to setting of an issue- based developing countries' coalition aimed at bargaining jointly during the Ministerial Conference and beyond. 3 G-33 is an alliance of developing countries formed during the same time as G-20, namely Antigua and Barbuda, Barbados, Belize, Benin, Botswana, China, Cote d'lvoire, Congo, Cuba, Dominican Republic, El Salvador which have joined efforts to guarantee that food security, livelihood security and rural development concerns of the developing countries are put at the centre of the WTO negotiations on agriculture.

^ See Balance af Payment Manual, IMF. 5 OECD at http://www.occd.org/daf/cmis/mai/sgngo.hmi. 6 OECD, http://www.oecd.org/publications/Pol_brief/9702_pol.htm.

Algeria, Argentina, Brazil, Chile, Egypt, India, Indonesia, Jamaica, Kenya, Malaysia, Mexico, Nigeria, 1'cru, Senegal, Sri Lanka, Venezuela, Zimbabwe, Iran and Colombia. 8 Organization for African Unity. (2001). ). Afn'ca's Negotiating Objectives For 1he Fourth Ministerial Conference of The WTO. OAU/African Economic Community, 4th Ordinary Session of the OAu/AFc Conference of Ministers of Trade, Committee on Trade, Customs and Immigration 19-23 September, 2001 Abuja, Federal Republic of Nigeria OAU/AE(:/TD/MIN/Decl. 2 (iv) Rev.3.

9 Permanent Mission of India, Geneva. (2003). Trade and Investment: Some Issues. Presentation to Seminar on Trade and Investment, Geneva, March 20, 2003. "' This was the intention of the U.S when the OECD N4Ai was being negotiated and it hasn't changed till date; Clark, Tony The Corporate Rule Treaty: The Multilateral agreement on Investrnents seeks to Consolidateglobal corporate rule in The MAi Briefings online at http://www.geocities.com/CapitolHill/Lobby/7111/maibricf.htm visited 4 April 2009. 1 Khor. M The effects of Fdi, the Need for National Investment Policy and the Issue of Multilateral Investment Framework, paper presented on Global Investment Forum, UNCTAD, 10 October 1996; A similar view was expressed by Prof Epstein Gerald in A critique of Neo-Liberal Globalization online at http://www.twnside.org.sg/ title/critiquc-cn.htm visited 11 June 2009. 12 Charlton, Andrew 2004 Initiative for Policy Dialogue Background note for 'The IPD/Sti}?litz Plan', Part it R�qulatory Hannonisation: the Singapore Issues online littp://www0.6sb.coluiiibia.edu/ipd/ptib/IPD_Appendix_2_ Final.pdf visited 5 September 2009. t3 An example is the negotiation of the WTO agreements where a lot of Lnes and African countries are under represented especially at the negotiations and it is mainly because they do not have the required manpower or technical assistance to represent them at these negotiations. So there is the fear that they may not be able to actively participate in the negotiation of a Mm and be roped into signing an agreement, which does not reflect their interests and may greatly put them at a disadvantage against the foreign investors.

�4 Mostly the EU members.

15 Korea, China, Thailand, Mexico, Peru. 16 Icc fact sheet # 4 - The Icc and investment Liberalization online at http://www.corporateeurope.org/ icc/icc-investjiiciit.litin] visited 10 July 2009. " Impact of this is to discourage foreign investors to come to a country where the legal regime is different from its own country. This in long run will not help country to achieve its national goal in spite of it entering into F�'ns or BITS. 18 These benefits include, transfer of technology, managerial skills, job creation, more consumer goods made available. In essence, they include the developmental objective of most host nations. �9 This cannot be negotiated in the case ofBnrs and FTAs because they are negotiated on separate terms for each agreement. It has been argued that BITS and FTAs put some countries at a disadvantage and in their attempt to attract FDI they enter into agreements that are not well negotiated. A multilateral framework will put everyone at an equal starting point and investors the world over will know they will get the same treatment anywhere in the world.

20 According to a report of the World Bank, FW in sub-Saharan Africa yielded the highest returns in the world in 2002. The World Bank predicted that Africa would grow at 3% in 2003 if weather conditions were normal and commodity prices higher. Source BBc April 8, 2003 Africa Best for Investment, online http://www.globalpohcy.org/ sececon/develop/africa/2003/0408fdi.htm. 21 Ministry of Finance, Government of India Website.

-2 Ministry of Finance, Government of India Website.

23 In a report of Boston Consulting Group (BcG) available at http://www.bcg.com/publications/files/ New_Global_Challenges_May06.pdf.

24 Daksh company's press release, "Daksh services announces launch of facility in Philippines", 7 January 2004 (http://www.dask.com/pr-7jan04.htm).

zs The Economist, April 10, 2008.

Pan E, China, Africa and Oil, New York Times, January 18, 2006.

27 People's Republic of China, China's Africa' Policy, Beijing: PRC, January 12, 2006, online at http://www.fniprc.gov.cii/zflt/eiig/zt/zgdfzzcwj/t230479.htm. z8 Data from EW online at http://tonto.eia.doe.gov/country/country_energy_:data.cfm?fips=IN. 29 Country analysis Brief, online at http://tonto. eia. doe. gov/country/country_energy data. cfm?fips=lN.

30 Data from www.iea.org. In a speech at the 'India Africa hydrocarbon conference & exhibition' November 6-7, 2007, New Delhi online at http://pib.nic.in/release/release.asp?rclid=32438. In a speech at the 'India Africa hydrocarbon conference & exhibition' November 6-7, 2007, New Delhi online at http://pib.nic.in/releasc/rclcase.aspPrelid— 32438. 33 Laxmi Puri ofUNC�'nn in a speech at the 'India Africa hydrocarbon conference & exhibition' November 6-7, 2007, New Delhi.

34 http://timesofindia.indiatimes.com/articleshow/1714985.cms. 3s Rajesh Pillania, "India's Interest in Africa Oil," Africa Aye Uanuary 2008), p. 35.

3s http://economictimes.indiatimes.com/Corporate Trends/Tata investment in Africa is worth billions/ articleshow/3502202.cms. Tlte Economist, April 10, 2008.

3H http://www.foreignpolicy.com/users/login.php?story id=3116&URL=http://www.foreignpolicy.com/ story/cms.php?story id=3116.

39 International Herald Tribune, 3 November 2006.

40FinancialTimes, 17 May 2007. 4� According to the Financial Times September 13, 2005 one should be careful with the classification private or public in China. Different sources suggest that many enterprises are still under public control. Chinese sources suggest that 28,000 foreign funded enterprises produce 27% of China's total industrial output and 57% of its exports (China Daily, January 16, 2007). Van Dijk (2007) suggests that the private sector has become more important in China and is now responsible for three-quarters of economic output and employment. 42 Newly dynamic Asian economies like China, India, Thailand, Vietnam collectively as the "Asian Drivers of Global Change." The term "driver" signifies the distinctive and significant impact which these emerging economies are likely to have on the global economy, arising not just from their size, but also from their distinctive public and private actors.

°; Online at http://www.atdforum.org/spip.php?breve141. 4' http://www.atimes.com/atimes/South_Asta/IG13Df03.html. ^s India-Africa Forum Summit held at New Delhi in April 2008.

46 Collier, p. 34. 47 Ibid, p. 42.

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