Italy Bilateral Trade Agreements
With the expansion of global trade, investment and technology in recent decades, Canada and Italy have a strong and long-standing academic relationship, strengthened by inter-university and private-public academic agreements that generate new ideas and research projects, build relationships and promote youth mobility. Canadian Studies programs in Italy and the Italian Association for Canadian Studies continue to contribute to these important interpersonal relationships. Two cultural agreements are in force between Canada and Italy: one on film co-productions and the other on cultural cooperation. The United States and Italy work closely together on important economic policy issues, including the G-7. The United States is one of Italy`s most important trading partners, with reciprocal trade in goods and services worth $103.112 billion in 2019). As a member of the European Union (EU), Italy is bound by EU treaties and laws, including those that indirectly regulate or influence direct investment. Under the right of establishment of the EU Treaty and the Treaty of Amity, Commerce and Navigation with the United States, Italy is generally required to grant national treatment to American investors established in Italy or another EU Member State. The two countries have adopted a tax treaty to avoid double taxation. A list of trade agreements between the European Union and other countries around the world, as well as brief explanations of these agreements, can be found under the heading EU Trade Agreements. IIA Navigator This database of IIAs – the IIA Navigator – is maintained by UNCTAD`s IIA section. You can search for IAIs completed by a specific country or group of countries, view recently completed IIAs, or use advanced contract search for sophisticated searches tailored to your needs.
Please cite as: UNCTAD, International Investment Agreements Navigator, available under investmentpolicy.unctad.org/international-investment-agreements/ International Investment Treaties (IIA) are divided into two types: (1) bilateral investment treaties and (2) investment provision treaties. A bilateral investment agreement (BIT) is an agreement between two countries on the promotion and protection of investments made by investors from each country in the territory of the other country. The vast majority of IIAs are BITs. The category of investment provision contracts (IPTs) combines different types of investment agreements that are not BITs. Three main types of TIP can be distinguished: 1. global economic contracts that contain obligations commonly found in BITs (e.g. B a free trade agreement with an investment chapter); 2. contracts with limited investment provisions (e.g. only those relating to the investment of investments or the free transfer of funds linked to investment funds); and 3. Contracts containing only “framework clauses”, such as those relating to cooperation in the field of investment and/or a mandate for future negotiations on investment issues.
In addition to IIAs, there is also an open category of investment-related instruments (IRRI). It includes various binding and non-binding instruments and includes, for example, model agreements and draft instruments, multilateral conventions on dispute settlement and arbitration rules, documents adopted by international organizations and others. On August 21, 2020, the United States and the European Union announced a trade agreement on tariff reductions on certain products of mutual interest. The agreed tariff changes entered into force for the European Union on 18 December 2020 with the publication of Regulation 2020/2131 of the European Parliament and of the Council in the Official Journal of the EU and on 22 December 2020 for the United States. Under the agreement, the European Union has eliminated tariffs on imports of certain live and frozen lobster products on a most-favoured-nation (MFN) basis with retroactive effect to 1 August 2020. EU tariffs will be abolished for a period of five years and the European Commission will initiate procedures to make tariff dismantling permanent. The United States has reduced tariffs by fifty% on ready meals, some crystal glassware, surface preparations, propellant powders, lighters and lighter parts. Tariff reductions in the United States are also on a most-favoured-nation basis and apply retroactively to August 1, 2020.€2.4 billion The value of Italy`s trade surplus with Japan. 6. Japan is Italy`s 6th largest trading partner outside the EU. The IIA Navigator is continuously adapted following reviews with and comments from UN Member States. It is mainly based on information provided by governments on a voluntary basis.
A contract is included in a country`s IIA statement once it is formally concluded; Contracts whose negotiations have been concluded but not signed are not counted. A contract is excluded from the IVI account once its termination takes effect, whether or not it continues to have a legal effect on certain investments during its “sunset” period. In the case of renewals, only one of the contracts between the same parties is counted. Depending on the situation, the counted treaty may be “old” if it remains in force until the ratification of the newly concluded IIA. Although every effort is made to ensure the accuracy and completeness of the content, UNCTAD assumes no responsibility for any errors or omissions in such data. The information and texts contained in the database are for purely informative purposes and have no official or legal status. In case of doubt about the contents of the database, it is recommended to contact the competent governmental authority of the State(s) concerned. Users are invited to report any agreement, error or omission via the online contact form. Italy and Japan already have close trade relations.
The trade agreement between the EU and Japan will give it a big boost. An important point of reference for policy makers when formulating investment policies and negotiating investment agreements. UNCTAD`s Work Programme on International Investment Treaties (IIAs) actively supports IIA policymakers, government officials and other stakeholders in reforming the IIA to make it more conducive to sustainable development and inclusive growth. International investment rules take place at the bilateral, regional, interregional and multilateral levels. Policymakers, negotiators, civil society and other stakeholders need to be well informed about foreign direct investment, international investment agreements (IIAs) and their impact on sustainable development. Main objectives of UNCTAD`s work programme for IIAs • Reform of the International Investment Treaty (IIA) system to strengthen its sustainable development dimension, • Comprehensive analysis of key issues arising from the complexity of the international investment regime; • Development of a wide range of instruments to support the formulation of more balanced international investment policies. . . . .
