ACIA was signed by the ASEAN Economic Ministers (AEM) on 26 February 2009 and consolidated existing agreements: the ASEAN Investment Area (AIA) of 1998 and the ASEAN Agreement on the Promotion and Protection of Investments of 1987, also known as ASEAN Investment Guarantee Agreement (IGA). It is an enhanced agreement that encompasses four pillars: liberalisation, facilitation, protection, and promotion. It also contains new features to further promote and encourage foreign direct investment inflows into ASEAN. ACIA was signed in response to the competitive global environment for foreign direct investment with the aim of creating a freer and more open investment regime based on international best practices.
As a new agreement, ACIA lacks exposure and needs to be extensively promoted. In this respect, policy makers, investors and academics need to have a stronger understanding of ACIA such as obligations under ACIA regarding liberalisation commitments via the reservation lists, enhanced protection offered through the Investor-State Dispute Settlement (ISDS) dispute settlement provisions and the changes and benefits that can be anticipated by businesses as a result of ACIA.
This project produced a booklet and a guidebook to promote awareness of the ACIA and its key features. A number of seminars was conducted to bring together various stakeholders from the public, private and academia sector to provide feedback on the development of the publications.
This project has been completed in 2013.