SEATINI, SOMO, BOTH ENDS & TNI hosted a pivotal Civil Society Forum from November 26–29, 2024, in Uganda. The event brought together diverse stakeholders to discuss aligning investment policy frameworks to climate and sustainable development goals (SDGs). Among the participants, the Tanzania Trade and Investment Coalition (TATIC) was ably represented by its Executive Director, who shared Tanzania’s experiences and insights on navigating the challenges posed by Bilateral Investment Treaties (BITs).
Highlights of TATIC’s Contributions
The Heavy Toll of BITs
“Tanzania has faced 15 investment cases with over $600 million in awards. These aren’t just numbers—they reflect the devastating cost of BITs that prioritize investor rights over national development.”
This figure underscores the immense financial burden and developmental setbacks caused by unfair BITs.
Racing Against Time
“We were running out of time—six months to terminate or the BIT automatically renews for 10 years.”
This statement reflects the urgency and complexity of addressing harmful BITs within tight legal deadlines, emphasizing the need for timely interventions, resources, and political will.
Western Double Standards
“Western countries are cleaning their backyard, but they want us to sign these agreements. Is it hypocrisy or a double standard?”
TATIC’s perspective raises a critical question about global inequities in investment policy frameworks and highlights the need to challenge exploitative practices.
Asserting Sovereignty Over Resources
“In 2017, Tanzania asserted permanent sovereignty over natural wealth, ensuring earnings from extraction benefit its economy and people.”
This bold decision serves as a model for equitable resource management and economic empowerment.
Landmark Legislation
“Tanzania’s Review and Renegotiation of Unconscionable Terms Act combats unfair agreements that jeopardize sovereignty, environment, and economic equity.”
This act sets a precedent for nations striving to protect their public interest and counter exploitative investment agreements.
Advocating for Public-Interest Investment Models
“Countries need investment models that uphold public interest, allowing governments to regulate in the public’s favor without fear of regulatory chill.”
TATIC’s input calls for a shift to modern, fair investment frameworks that prioritize development, human rights, and environmental sustainability
Reforming the Global Investment System
“A reformed global investment system should safeguard foreign investor rights without special privileges, align domestic laws with human rights, and prioritize environmental standards.”
This vision outlines a balanced approach to investment that supports both development and sustainability.
Leveraging Economic Diplomacy
“Economic diplomacy and coordinated foreign policy can amplify developing nations’ voices, ensuring FDI supports sustainable growth and aligns with domestic priorities.”
TATIC emphasized the importance of unity among developing countries to enhance their negotiating power and ensure investment policies align with their developmental goals