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About us Members Positions Issue December 2017
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Dear Reader,

thank you for being an active part of the EIC network in 2017 - for attending our conferences, giving input to our working groups and helping our federation shape the way our industry is developing.

Best wishes to you for the new year and a happy and healthy holiday season.

Sincerely,
Your EIC Team

Headlines
Working Group “Contract Conditions” attends FIDIC International Users’ Conference

EIC and several Members of its Working Group “Contract Conditions” attended the FIDIC International Users’ Conference where the new 2017 edition of the FIDIC Suite of Contracts was launched. Read more...


News from Bruessels
5th African Union-European Union Summit 

The 5th African Union-European Union Summit took place on 29-30 November 2018 in Abidjan, Côte d'Ivoire, and brought together leaders from 55 African Union and 28 EU Member States. Read more...


Multilateral & International Issues
6th CEEC-China Summit in Budapest 

Hungary hosted the 6th Annual Meeting of the Cooperation between China and Central and Eastern European Countries, of which 11 are EU Member States, or “16+1”. Read more...

Brief Notices

18th DRBF Annual International Conference 

The 18th Annual International Conference & Workshop of the Dispute Resolution Board Foundation (DRBF) will be held from 23-25 May 2018 in Tokyo, Japan. In case of interest to register for the event, please contact DRBF at Aavery@drb.org.


Members' Corner

PWC
The Second Edition of the FIDIC Rainbow Suite has arrived

At a packed International Contract Users’ Conference held in London on 5-6 December 2017, FIDIC finally unveiled the Second Edition of the 1999 Rainbow Suite, Red, Yellow and Silver Books. Whilst the Second Edition largely follows the 2016 pre-release version of the Yellow Book, FIDIC have taken on board some of the comments made by the friendly reviewers, and made a number of important changes. Read more...

 
Headlines

Working Group “Contract Conditions” attends FIDIC International Users’ Conference

London   EIC attended with several Members of its Working Group “Contract Conditions” the FIDIC International Users’ Conference held on 05-06 December 2017.

Official Launch of the 2017 FIDIC Suite of Contracts

The main theme of the event was the launch of the new 2017 edition of the FIDIC Suite of Contracts (“Red, Yellow, Silver Books”). FIDIC representatives stated that the core aim of the majority of the changes from the 1999 version to the 2017 edition was to provide users with increased clarity and certainty in the standard forms in order to reduce the risk of disagreements regarding the interpretation of contract terms. In order to deliver on this objective, FIDIC is making its standard contract forms more prescriptive and introduces various deeming provisions as well as step-by-step project management procedures setting out what is precisely expected from the parties and from the Engineer during the performance of the Contract. Consequently, the 2017 edition has grown by approximately 50% in scope.

EIC speakers reported on their experience with the FIDIC forms

Several Members of EIC’s Working Group “Contract Conditions” contributed to the success of the London conference by sharing their experience as frequent users of the FIDIC documents. Acknowledging FIDIC’s 60-years long history of promoting a balanced risk-sharing philosophy, EIC speakers emphasised that the advantages derived from the FIDIC standard, spreads further than the use of the forms itself. Even if FIDIC forms were not used on an individual project, they still served as a baseline for negotiations between the parties. However, the EIC experts felt that the increase in complexity of contract management in the 2017 edition might result in an extensive amount of paperwork, potentially leading to more claims on both sides and eventually resulting in more disputes.

FIDIC “Golden Principles” and new “Emerald Book”

EIC will start updating its EIC Contractor’s Guides to the FIDIC forms in the course of 2018 and will also participate in the friendly review of the new FIDIC “Emerald Book” for Underground Works and of the new FIDC “Golden Principles” which have been drafted to ensure that the essential features of a FIDIC contract, leading to a fair and balanced risk/reward allocation, be held sacrosanct.

Links:
Conference Presentations by Members of the EIC Working Group “Contract Conditions”

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News from Bruessels

5th African Union-European Union Summit 

Abidjian   The 5th African Union-European Union Summit took place on 29-30 November 2018 in Abidjan, Côte d'Ivoire, and brought together leaders from 55 African Union and 28 EU Member States.

Mobilising investments for African structural and sustainable transformation

The EU was represented by the President of the European Commission, Jean-Claude Juncker, and the President of the Council of the EU, Donald Tusk, joined by the High Representative for Foreign Affairs and Security Policy & Vice-President of the European Commission, Federica Mogherini, and the Commissioner for International Cooperation and Development, Neven Mimica.

The African Union was represented by the President of the African Union, Alpha Condé, and the Chairperson of the African Union Commission, Moussa Faki Mahamat. African partners welcomed the EU's innovative External Investment Plan (EIP), which aims at mobilising €44 billion of private investments for sustainable development and job creation. The newly launched Sustainable Business for Africa Platform (SB4A) will allow for structured dialogue with the European and African private sector.

Summit was preceded by 6th EU-Africa Business Forum

An EU-Africa Business Forum was organised back-to-back with the 5th AU-EU Summit which brought together more than 1.000 representatives from the African and European business and political leaders. Discussions revolved around the question how to stimulate more investment for jobs in Africa and to collaborate closely to support the continent in its efforts for economic development while making the UN Sustainable Development Goals a reality for its people. A Joint Business Declaration by private sector representatives was presented to African and European policy leaders.

EIC’s Working Group “Africa” will meet in the first quarter of 2018 with the European Commission’s DG DEVCO to analyse the outcome of the EU-Africa Summit for European contractors and to discuss the final regulation in connection with the EU External Investment Plan.

Links:
Press Release on the African Union - European Union Summit by the European Commission
6th EU-Africa Business Forum - Joint Business Declaration

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Multilateral & International Issues

6th CEEC-China Summit in Budapest

Budapest   Hungary hosted on 27 November 2017 in Budapest the 6th Annual Meeting of the Cooperation between China and Central and Eastern European Countries, of which 11 are EU Member States, or “16+1”.

Platform for cooperation between CEEC Countries and China

The 16+1 initiative, a platform for cooperation between China and Central and Eastern European Countries (CEEC), was inaugurated in Warsaw in 2012. At the Budapest summit, Chinese Prime Minister Li Keqiang announced the establishment of the China-CEEC Inter-Bank Association, to which China Development Bank is expected to provide an equivalent amount of €2 billion as development-oriented financial cooperation loans, and the second phase of China-Central and Eastern Europe Investment Cooperation Fund, funded with around US$1 billion. In addition, the Chinese government expressed its readiness to explore multiple formats of market-based investment and financing to boost bilateral cooperation.

“Budapest Guidelines” for China-CEEC Cooperation

Following the summit, China and the 16 CEEC jointly issued the “Budapest Guidelines for Cooperation between China and Central and Eastern European Countries” and present leaders witnessed the signing of multiple cooperation documents covering China’s Belt and Road Initiative, connectivity, production capacity cooperation, infrastructure construction, finance, quality inspection and people-to-people and cultural engagement.

The chapter on connectivity spells out that China and the CEEC will further explore synergies between the Belt and Road initiative and the Trans-European Transport Network (TEN-T) and its extension to the Western Balkans and the relevant neighbourhood initiatives. Participants also expressed their support for Bulgaria as the host country for the 16+1 summit in 2018.

FIEC and EIC have decided to jointly analyse the impact of the “Budapest Guidelines” for the European construction market.

Links:
Press Release on the CEEC-China Summit by the Ministry of Foreign Affairs of China

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Picture Credits: Thaut Images / fotolia.de

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