Public
FTAA.ngin/com/16
June 20, 2002

Original: Spanish
Translation: FTAA Secretariat

FTAA - NEGOTIATING GROUP ON INVESTMENT

Sixteenth Meeting

Panama City, May 22 – 24, 2002

PRESS COMMUNIQUE

1. The Sixteenth Meeting of the Negotiating Group on Investment (NGIN) was held in Panama City from 22 - 24 May 2002. The following countries participated in the meeting: Argentina, Bolivia, Brazil, Canada, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guyana, Mexico, Panama, Peru, Trinidad and Tobago, and United States.

2. The approved agenda is attached hereto as Annex I.

3. Addressing the first item on the agenda, the Chair of the NGIN reported to the Group on his presentation at the Tenth Meeting of the Trade Negotiations Committee (TNC).

4. The delegations based their thorough and in-depth discussions of “exceptions and reservations,” “expropriation and compensation,” “compensation for losses,” and “dispute settlement” on the documents prepared by the NGIN Chair.

5. The NGIN discussed the issue of institutional coordination, taking into consideration the document drafted by the Chair. With respect to coordination with the Negotiating Group on Dispute Settlement, the NGIN agreed that after discussions on the issue of “dispute settlement” were fully exhausted, the results would be forwarded to the Negotiating Group on Dispute Settlement.
   
   Regarding coordination with the Consultative Group on Smaller Economies, the Group agreed to send the information to this Group after the NGIN has discussed the proposal on the treatment of differences in the levels of development and size of economies.
   
   The NGIN will recommend that meetings between Negotiating Groups on Services and Investment be scheduled so as to establish fluid and direct communication between the groups.

6. The next meeting of the NGIN will be held from 8 -12 July 2002.