BIT regime,; BITs,; BRIC countries,; ICSID, common commercial policy,; international investment regime,; liberalism; MAI; North-South confrontation; TFEU; renegotiation of BITs
Abstract :
[en] Th is paper argues that the current international investment regime predominantly based on bila teral investment treaties (BITs) is exhausting its capacity as an effi cient tool for regulating international investment. Th e increasing number of international investment agreements (IIAs) further perpetuates and accentuates the defragmented international investment regulation. Moreover, the existing regime can hardly accommodate the needs of developed states concerned with increasing investments from former capital-importing economies (e.g., BRIC countries) and sovereign wealth funds. Based on historical experience, it remains unlikely that a new multilateral investment treaty initiative will be successful in near future. However, the international community may deepen regional cooperation and foster conclusion of regional investment treaties better designed for current challenges. It might become a provisional measure which would facilitate negotiation of a MAI remaining on the international agenda.
Disciplines :
European & international law
Author, co-author :
KONONOV, Oleksiy ; University of Luxembourg > Faculty of Law, Economics and Finance (FDEF) > Department of Law (DL)
External co-authors :
no
Language :
English
Title :
International Investment Law: Is it Time to Change the Traditional BIT System?
