MIGA:
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BOARD OF DIRECTORS: 7 SEPTEMBER 1988
ITEM NO.
IDG 8788/990/101/001B
DESIGNATION OF UK'S DEPENDENT TERRITORIES AS
DEVELOPING MEMBER COUNTRIES
BRIEF FOR UK'S EXECUTIVE DIRECTOR
OBJECTIVE
1.
To obtain designation of Developing Member Country status of the 10 dependent territories covered by the Convention.
POINTS TO MAKE (POSITIVE)
2.
The Convention applies to the 10 territories mentioned by
virtue of Article 66. As paragraph 24 of the commentary on the Convention says,
"....dependent territories for whose international
relations a non-developing country is responsible, should be treated as developing members, if the non-developing member country so requests." The United Kingdom is responsible for the
international relations of these 10 territories. We are convinced
that MIGA could make a useful contribution to their social and
economic development and we therefore request that they be treated as developing members for the purposes of Article 14 of the
Convention. We recognise that such, designation would not apply to
United Kingdom cover for investments from Hong Kong in such territories.
POINTS TO MAKE (DEFENSIVE IF RAISED)
3.
Richer Dependent Territories:
(If Board members argue that
some dependent territories are relatively well off and ought not to
be classified as developing member countries). Neither the
Convention nor the Operational Regulations lay down criteria for developing member country designation. Some Category Two countries
are better off on a GNP per capita criterion
·
-
ten territories.
- than any of these
Moreover, all the territories are either small
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