jurisdictional bodies to extend treaties protecting investments in emerging markets.

The Seaton Foundation president Ian Kawaley said the lack of such protection hurt Bermuda's reputation as a place for international business to operate from.

Without such protection investments made by Bermuda companies in emerging markets were at risk, he added.

Treaties like the Multilateral Investment Guaranty Agency Convention (MIGA), and bilateral investment protection and promotion agreements made by the UK government protect companies from having investments appropriated by overseas Governments.

MIGA provides a fund to compensate individuals and entities for political losses in designated developing countries.

The foundation is calling on Government to petition the UK to get Bermuda covered under such treaties. Currently the UK has extended the MIGA convention to Anguilla, British Virgin Islands, Cayman Island and Turks & Caicos.

Mr. Kawaley said MIGA officials have told the organisation that a number of Bermuda exempted companies have asked if the convention covered the Island.

The Seaton Foundation is also calling on Government to negotiate other bilateral agreements along the lines of the USA Bermuda tax convention.