Question NW920 to the Minister of Trade and Industry
28 March 2018 - NW920
Alberts, Mr ADW to ask the Minister of Trade and Industry
(a) What number of South Africa’s bilateral investment agreements have already expired and (b) with regard to each such agreement, (i)(aa) what was the agreement, (bb) which countries were party to the agreement, (cc) on what date did the agreement come to an end and (dd) for how long was the agreement still valid after the agreement had expired and (ii) whether the Government will renew the relevant agreement; 2. whether the agreement provides for expropriation with compensation; if so, which is the relevant clause in the agreement and what are the details contained in it?[NW1002E]
Reply:
(a) The number of BITs that have already expired is 9.
The response to (i)(aa), (bb), (cc), (dd) is attached hereto as Annexure 3.
(ii) There is no intention to renew the agreements. In accordance with the decision by Cabinet, South Africa will only enter into bilateral investment treaties in future on the basis of a compelling economic or political reasons. In addition, the Protection of Investment Act provides adequate protection to all investments in South Africa in accordance with the Constitution.
2. Yes the BITs do, the relevant clauses are attached hereto as Annexure 4.