The ASEAN Comprehensive Investment Agreement, or ACIA, is a landmark agreement between the member states of the Association of Southeast Asian Nations (ASEAN) designed to create a more open and transparent investment environment in the region.
Signed in 2009, the ACIA aims to promote and protect foreign investments in the region, facilitate the movement of capital and technology, and ensure that ASEAN remains competitive in the global investment market.
One of the key features of the ACIA is the elimination of discriminatory practices and the promotion of non-discriminatory treatment of foreign investors. This means that foreign investors are granted the same treatment as domestic investors, and are protected from any kind of discrimination or unfair treatment.
The ACIA also includes provisions on investment protection and dispute settlement. This means that investors are protected from unlawful expropriation, and have access to legal mechanisms for resolving disputes with host governments.
In addition to these provisions, the ACIA also includes measures to promote sustainable development and environmental protection, ensuring that ASEAN remains a responsible and sustainable investment destination.
Overall, the ACIA represents a major step forward for investment in ASEAN, and has the potential to attract a significant amount of investment to the region. By creating a more open and transparent investment environment, the ACIA will help to promote economic growth and development, and ensure that ASEAN remains a competitive player in the global economy.