TNAG-2826-FCO40-4079-Investment-Protection-and-Promotion-Agreements-(IPPA)-betwee-1993 — Page 115

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2 February 1993

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INDEX

PA

REGISTRY

Action Taken

XCX(93)13 Copy No. 28

na.

Na IPPAS.

NOTE FOR EXECUTIVE COUNCIL

INVESTMENT PROMOTION AND

STMENT PROTECTION AGREEMENTS : ITALY

INTRODUCTION

This note informs Members that the Hong Kong Government has initialled the text of an investment promotion and protection agreement (IPPA) with Italy.

BACKGROUND

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On 10 April 1990, having considered memorandum XCX(90)34, the Council ADVISED and the Governor ORDERED that -

A

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Hong Kong should on its own negotiate and conclude a network of Investment Promotion and Protection Agreements on the lines of a model agreement annexed to the memorandum; and that these agreements should, as far as possible, continue to apply after 1997.

As proposed in memorandum XCX(90)34, the Chinese were informed of the plan that Hong Kong should conclude a network of IPPAs and their comments were sought. Following lengthy discussions, the Chinese side at JLG XX (September 1991) confirmed their agreement to Hong Kong negotiating IPPAs on the basis of the model draft at Annex A. They also agreed to a list of negotiating partners comprising Australia, Canada, the Netherlands, Singapore, Sweden and the United States. At JLG XXII (March 1992), the Chinese side agreed to a further list of negotiating partners comprising France, Switzerland, Denmark, Germany, New Zealand and Italy.

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At its meetings on 7 January 1992, 17 March 1992, 2 June 1992, 28 July 1992 and 13 October 1992, the Council noted memoranda XCX(92)2, XCX(92)16, XCX(92)29, XCX(92)46 and XCX(92)55 which reported on the

Executive Council