SPENCER BROWN

International Investment Law Trade Agreement

Several related trends have reinforced the importance of IONSA and, therefore, their health effects. The acceleration of globalization, which is leading to changes in the transport, technology and communication sectors, has increased the scope and complexity of global trade. The nature of IEAs has become broader, with a considerable impact on nation states. Emphasis has been placed on reducing tariffs (although this remains important) to a wide range of measures that affect many aspects of goods, services and investment [2]. “Trade agreements” and “investment agreements” tend to merge into an instrument of great regional economic governance [3] with the total number of investment-related TIAs, which now exceed 3,000 [4]. International investment law governs foreign direct investment and the settlement of disputes between foreign investors and sovereign states. This guide identifies the best resources for locating primary and secondary materials related to international investment legislation, with a focus on bilateral investment agreements (ILOs) and investor-state dispute resolution. In the recent OECD bilateral investment agreements in Central and Eastern Europe (EECs), respondents to most investment arbitration proceedings against EU Member States are new. Key security interests in international investment law In the past, several initiatives have been taken to adopt a more multilateral approach to international investment law. These essays include the Havana Charter of 1948, the draft UN Code of Conduct for Transnational Enterprises in the 1980s and the Multilateral Agreement on Investment (MAI) of the Organisation for Economic Co-operation and Development (OECD) in the 1990s.

None of these initiatives were carried out due to differences of opinion between countries and, in the case of the MAI, due to strong opposition from civil society groups. Since then, further attempts have been made to advance the process of establishing a multilateral agreement within the WTO, but they have not been successful. Concerns have been expressed about the specific objectives that such a multilateral agreement must achieve, namely who would benefit from it and what the consequences of such a multilateral agreement would be on the broader public policies of countries, including those relating to environmental, social and other issues. Developing countries, in particular, may need a “political space” to develop their legal framework. B, for example in the area of economic or financial policy, and a major concern was that a multilateral investment agreement would reduce this political room for manoeuvre.

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REP   ACTING: VLA     VO: SUE TERRY VOICES    LIT: RICHARD SCRIVENER

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