ASEAN commenced the signing process of the 5th Protocol to Amend ASEAN Comprehensive Investment Agreement (ACIA) with signatures from some Member States. The Protocol enhances certainty and transparency to investors on the investment regime in ASEAN. It aims to ensure that the ACIA remains relevant, modern, forward-looking and more adaptive to business landscape.
More specifically, it provides for the operationalisation of the transition of the current single-annex ACIA reservation list to a two-annex negative list, including the reservations against the obligation on Prohibition of Performance Requirements mandated under the 4th Protocol to Amend the ACIA; the expansion of the scope of the ACIA; and the application of the ratchet mechanism to some Member States.
The remaining Member States will sign the Protocol as soon as they complete the respective domestic procedures for the signing.