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Rent Half a Country (New York Times, 19.11.2008) Pakistan Offers Farmland to Foreign Investors (Reuters, 20.4.2009) UN Warns Of Neo-Colonialism (Financial Times, 19.8.2008) Manufactured Famine: A New Wave of Food Colonialism Is Snatching Food from the Mouths of The Poor (Guardian, 26.8.2008) Dispute Erupts Over Plans to Invest Millions in Rice Farming (Economist, 23.4.2009)0 / 1  - ! , ?  # .  b =  Outline Recent trends and patterns in international investments in agriculture Motivations for international investments in agriculture Impacts of international investments in agriculture Policy implications Outstanding issues "ZZ %Recent investment trends and patterns&&(% focus on investment for agricultural production available information  WIR, media  plans versus realized investments, inadequate national statistics not a new development but is there an increasing trend (land grab)? who are the investors? private sector (agribusiness, investment companies, trading companies, mining companies), governments, sovereign funds  Arab States, China destinations of investment flows  Africa, S.E. Asia but also S. AmericaZ  %Recent investment trends and patterns&&(% nature of investments  land acquisitions predominate? many land acquisitions in excess of 10 000 ha and up to 1 million ha examples land acquisition  UAE in Pakistan contract farming  horticulture in East Africa traditional FDI - Chiquita bananas in Mozambique mixed models  sugar in Southern and East Africa vertical integration against recent trends in FDI HZZ3Z3j BMotivations  investing countries""(! <Motivations depends on investor  private sector, government, sovereign funds food security (worsening) natural resource constraints  land and water international trade policies and the reliability of international markets biofuel production portfolio diversification  financial gainB]ZZ>Z]>.  6 8Motivations  host countries need for investment  foreign direct investment needed to supplement other sources of investment funds financial benefits of asset transfers small? developmental benefits  technology transfer, employment creation, infrastructural developments ODA to agriculture  $Impacts of international investments%%($ economic, political, social, environmental impacts  win-win or  neo-colonialism ? - ethical concerns positive developmental effects of foreign direct investment technology transfer and upgrading employment creation, multiplier effects and poverty reduction food production and food security commercialisation and large-scale agriculture diversification and development of value-added production 4ZZ&%  X  $Impacts of international investments%%($ negative developmental effects inappropriate economic model social, rights issues, transparency, governance issues and sovereignty environmental issues worst case scenarios the record on foreign direct investment in agriculture B ZZ8Z 8  Policy implications $encouraging inward investment  recent policy reforms but land raises particular issues creation of receptive domestic sector investment climate and incentives trade policy commitments consistency with food security strategies establishing clear property rights limiting adverse social and environmental impacts land use rights, involvement and compensation of stakeholders strengthen or maintain weak?P   Policy implications international codes of conduct and global corporate social responsibility initiatives international investment agreements dispute settlement WTO disciplines (URAA, SPS-TBT, TRIPS) (U ^   Some outstanding issues Investing country issues why vertical integration? alternatives to equity investments  non-equity investments; trade Host country issues policy and legal frameworks to minimise risks and maximise benefits International issues international regulation and codes of conduct matching capital to opportunities but how to devise investment programmes to meet investment needs? ]D]D  b         7 0` b!+fl` ii_EEfL u` f;v3ff` XVΟ` _V?" dd@,?n<d@ " d n<@" d`n< n?" dd@   @@``PR    @ ` `6p>> j2b2P++T1(  T-T  T " T c TBCDE`Fjd @ Hes>9Na }  ZaI9HH24@`"B * T c ByC DE,F6d @  y%f  ryyy@`"  T c BTCfDE F*d @ ff0<TT*6ff@`"0vb    T# "   T c BHCDEF"d @ <H @`" -  T c BCDEFd @   *H`xT ~ l N* 6Zx N lT6BD@`"   T c BOCDEFd @ $$I=%N Bx1=C =0 1[   x  % =[ I0 O IIJL@`" o  T c BCDEFd @ $$mI Z T =a  m I 7~7U y   JL@`"\  T c B,CDEFd @ $$,=~ r1   H s   7frC  s H , ,,JL@`"j  T c BCDEFd @ $$&z>% 2n&@ Z hs ,  sr~ 8 ty ` @ &&JL@`"Hj  T c ,B]CDEFd @ 33WP?*(u[ba UVa{ "3*EKPQK| ? 3 1  W  J O[V  ]  (7 ? 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