Análisis

La Trayectoria Recorrida para un Tratado Vinculante de Derechos Humanos: Tres Años Han Pasado y ¿Hacia Dónde se Está Yendo?

Se deben proveer reparaciones significativas y efectivas a aquellos perjudicados por abusos a los derechos humanos relacionados con negocios. Un grupo de trabajo intergubernamental de las Naciones Unidas está trabajando para cerrar las brechas entre las partes interesadas y negociar un instrumento vinculante sobre empresas transnacionales y otras empresas con respecto a los derechos humanos.

Espacio Regulatorio del Gobierno en la Sombra de los TBIs: El Caso de la Reforma Regulatoria de los Recursos Naturales en Tanzania

Tanzania aprobó tres nuevas leyes en julio de 2017 que cambian significativamente el panorama regulatorio que rige los recursos naturales. Las reformas tienen como objetivo garantizar que la inversión extranjera beneficie a los ciudadanos tanzanos. Desde una perspectiva africana, este artículo argumenta que es hora de reconsiderar los regímenes de tratados de inversión para garantizar que no obstaculicen las reformas que tanto se necesitan.

Conferencia de Alto Nivel de la UNCTAD sobre los AIIs: Avanzando en el Abordaje de los Acuerdos Internacionales de Inversión de la Generación Anterior

Más de 300 expertos se reunieron en Ginebra para hacer un balance de la reforma orientada al desarrollo sostenible del régimen de tratados de inversión y analizar opciones de política para modernizar el inventario existente de tratados de la vieja generación. Los participantes reconocieron que la colaboración multilateral sería clave para abordar el complejo régimen de AII.

Reseña del Libro La Economía Política del Régimen de Tratados de Inversión

En su nuevo libro, Jonathan Bonnitcha, Lauge Poulsen y Michael Waibel desarrollan una estructura coherente para el análisis de políticas de los tratados de inversión que debería atraer interés mientras los gobiernos revisan sus políticas de tratados. Sostiene que los tratados de inversión tal como se aplican actualmente a menudo parecen estar mal adaptados para abordar inquietudes económicas identificables.

El TBI entre Marruecos y Nigeria de 2016: Una Importante Contribución a la Reforma de los Tratados de Inversión

Dos países africanos en desarrollo responden a las críticas al régimen de inversiones. El tratado innovador ofrece protección a los inversores extranjeros sin comprometer la capacidad del Estado anfitrión para regular en el interés público.

Una Mirada sobre la Lenta Aparición de China en Casos de ISDS

China ha mantenido fuertes flujos de inversión extranjera directa dentro y fuera del país y ha expandido su red de tratados de inversiones. Este artículo destaca la creciente aparición de China en los casos de ISDS en esta última década, tanto como Estado de origen como anfitrión.

Tratados de Inversión y el Veto Interno de Propuestas Regulatorias: Estudio de Caso de Canadá

¿La posibilidad de demandas de arbitraje de un inversor extranjero en contra del Estado provoca un enfriamiento regulatorio? Los autores preguntaron a funcionarios públicos si la ISDS contribuye al veto interno de decisiones gubernamentales sobre protección ambiental.

¿Pueden los Inversores Extranjeros ser Responsabilizados por Violaciones a los Derechos Humanos? El Derecho Internacional de los Derechos Humanos y Más Allá

Los Estados anfitriones enfrentan el desafío de proteger a sus ciudadanos de violaciones de derechos humanos causadas por multinacionales. Este artículo explica las bases de las obligaciones de los Estados bajo el derecho internacional de derechos humanos y cómo inversores extranjeros pueden ser responsabilizados.

Expansión de la Carta de la Energía hacia África y Asia: ¿Deshaciendo la Reforma del Derecho Internacional de las Inversiones?

La Secretaría de la Carta de Energía está en un modus expansivo, queriendo ganar acceso a los recursos energéticos de África y Asia para sus miembros — y extendiendo un sistema de protección de inversiones de largo alcance y desactualizado para inversiones en países ricos en recursos.

Otro Conflicto Normativo: Cómo se Relacionan el BEPS y la Tributación Internacional con los Tratados de Inversión

El proyecto de reforma de la Base Fiscal y el Traslado de Beneficios (BEPS) liderado por la OCDE trata las medidas corporativas con el fin de trasladar los beneficios a países de escala o nula tributación. Pero la ley de inversiones puede obstaculizar la implementación de esta reforma tan necesitada en el derecho tributario internacional.

Acuerdos de Cooperación y Facilitación de Inversiones (ACFI) de Brasil y Últimos Avances

El problema de los TBIs tradicionales y el creciente número de casos de casos de arbitraje entre inversionista y estado fueron entre los factores que llevaron a Brasil a desarrollar el modelo ACFI, apuntando a promocionar y facilitar inversiones extranjeras de calidad y productivas.

La Protección de las Inversiones Intra-UE: Navegando Río Arriba sin Remo

En teoría, el mercado común europeo funciona basado en los principio que protegen las inversiones transfronterizas intra-UE. En la práctica ¿pueden estos principios ser reconciliados con las decenas de TBIs intra-UE que ya existen?

El Reciente TBI entre Argentina y Qatar y los Desafíos de las Negociaciones de Inversión

Argentina ha vuelto al terreno de las negociaciones de TBIs después de un espacio de 15 años, celebrando un tratado con Qatar y entrando en negociaciones con Japón. El nuevo tratado incluye cláusulas tradiciones y otras innovadoras.

Manual sobre Sostenibilidad para Negociadores Comerciales: Aprovechando el Potencial de los Acuerdos de Comercio e Inversión para Alcanzar Objetivos Ambientales

Desarrollado por IISD y el Programa de las Naciones Unidas para el Medio Ambiente (PNUMA), este manual es diseñado para ayudar a los negociadores de comercio e inversiones demostrando como cláusulas específicas pueden apoyar objetivos de desarrollo sostenible.

The Power to Conclude the New Generation of EU FTAs: AG Sharpston in Opinion 2/15

Can the European Union act alone in concluding agreements such as CETA and the EU–Singapore FTA? Or must EU member states also ratify them? ECJ Advocate General Sharpston discusses the allocation of powers in the field of investment under EU law.

Can Bolivian State-Owned Companies Submit to International Arbitration? Analyzing Bolivia’s Intricate Legal Framework on Foreign Investment

The Bolivian government has enacted three laws—on investment, arbitration and state-owned companies—that reflect the country’s public policy on domestic and foreign investment. Investing in Bolivia requires a careful reading of the three new laws.

The Settlement of Investment Disputes: A Discussion of Democratic Accountability and the Public Interest

In the context of disputes involving governments, settlement agreements threaten accountability, respect for the rule of law, transparency and respect for citizens’ rights and interests. Any reform agenda must cover settlements and the policy issues they raise.

Only a Brief Pause for Breath: The Judgment of the German Federal Constitutional Court on CETA

Over 125,000 complainants requested a temporary injunction against Germany’s approval of the Canada–European Union Comprehensive Economic and Trade Agreement (CETA). While rejecting the request, what concerns did the German Federal Constitutional Court raise with respect to CETA?

India’s Joint Interpretive Statement for BITs: An Attempt to Slay the Ghosts of the Past

The Government of India has proposed a Joint Interpretative Statement to its bilateral investment treaty (BIT) partners. The statement clarifies key substantive and procedural provisions, bringing them more in line with India’s new foreign investment policy.

Special and Differential Treatment in International Investment Agreements

Special and Differential Treatment (S&D), originally forged in the trade regime, has evolved in trade negotiations and gained momentum in investment agreements, to provide greater flexibility for developing countries based on their needs and capabilities.

UNCTAD’s International Investment Agreements Conference 2016: Taking IIA Reform to the Next Level

(English) As part of the World Investment Forum (WIF) 2016, negotiators of international investment agreements (IIAs) and various stakeholders convened at the High-Level IIA Conference on July 19, 2016 in Nairobi, Kenya.

UNASUR Centre for the Settlement of Investment Disputes: Comments on the Draft Constitutive Agreement

The future operation of the investment dispute settlement facility of the Union of South American Nations is likely to generate scepticism, as it could undermine international standards in favour of regional parameters and lead to increased instability in the region. Alternatively, it could enhance the legitimacy and popularity of ISDS mechanisms in UNASUR member states. What are the procedural and substantive novelties contained in the Draft Constitutive Agreement?

Can EU Member States Still Negotiate BITs with Third Countries?

Foreign direct investment became part of the sphere of exclusive competence of the European Union in 2009. Since then, the European Commission has been negotiating investment treaties with a number of countries—as well as authorized several individual EU member states to negotiate BITs.

Recasting Rules and Exceptions? On the Relationship Between Regulatory Sovereignty and International Investment Law

States’ regulatory powers are the rule, and investors’ rights under international investment law are the exception. Or is it the other way around? Book review of Public Purpose in International Law.

Mappinginvestmenttreaties.com: Uncovering the secrets of the investment treaty universe

Did you know that the United Kingdom’s treaty network is twice as consistent as that of Egypt or Pakistan? Have you noticed that 81 per cent of the TPP’s investment chapter is the same as the investment chapter in the U.S.–Colombia FTA, concluded ten years before, in 2006? Treating investment treaty texts as data can equip policy-makers, practitioners and researchers with a more sophisticated understanding of the universe of international investment agreements.

The Need for a Southern Observatory on Transnational Investment

The Observatory is an intergovernmental initiative to provide information and exchange of knowledge and experiences on investment arbitration. It also aims at creating equal conditions between investors and states so as to promote sustainable investment that respects state sovereignty.

An interview with Lauge Poulsen, author of Bounded Rationality and Economic Diplomacy

The popularity of BITs in large parts of the developing world was due to a failure to appreciate their bite. Why would so many governments sign up to some of the most potent instruments in international economic law without even caring to check what the treaties meant?

Is ISDS in EU Trade Agreements Legal under EU Law?

Legality of investor–state dispute settlement (including in the form of an Investment Court System) in EU trade agreements under EU law is a contentious issue. This article details four legal objections raised by academics and legal experts, and discusses the potential for a legal challenge of ISDS under EU law.

State Strategies for the Defence of Domestic Interests in Investor–State Arbitration

Argentina and Ecuador are now well experienced in ISDS and have had some success in defending domestic interests from investor claims. Lessons from these prior experiences could benefit other countries, particularly in the developing world, as they devise their legal defence strategies.

TTIP and Climate Change: Low economic benefits, real climate risks

This week’s climate change negotiations should inform many spheres of global governance—including international trade and investment policy. One of the most important trade and investment agreements is the Trans-Atlantic Trade and Investment Partnership (TTIP)—currently under negotiation between the European Union and United States—given the role it will likely play in establishing rules for the global economy in the 21st century.

Does the Green Economy Need Investor–State Dispute Settlement?

Environmentalists have traditionally been among the staunchest critics of investor–state dispute settlement (ISDS). For those familiar with the litany of ISDS cases that have involved challenges to environmental regulations—ranging from bans on pesticides to efforts to save endangered species—the opposition to ISDS on the part of environmental non-governmental organizations and scholars is not difficult to […]

Safeguarding Sustainable Development: Financing for Development and the International Investment Regime

Discussion of international investment governance has changed in character in recent years. While some specialists examined the potential negative sustainable development implications of international investment agreements (IIAs), in official forums the focus of previous decades was often on how to best protect and encourage foreign direct investment (FDI). Now, especially because of ongoing negotiations of […]

Conciliation and Arbitration Law: Times of Change in Investment Protection in Bolivia

1. Neoliberal period: Legal structure of foreign investment protection In the early 1990s, the Bolivian State underwent a neoliberal period. Such period was marked by (i) the setting up of a constitutional and legal structure aimed at protecting foreign investment, which affected Bolivia’s regulatory framework and control authority, and (ii) a process of drastic reduction […]

The Brazilian Agreement on Cooperation and Facilitation of Investments (ACFI): A New Formula for International Investment Agreements?

Since the signing of the first Agreement on Cooperation and Facilitation of Investments (ACFI) by Brazil, in March 2015, English translations of the document and analyses of its innovative aspects have been published.[1] The hidden question is: to what extent do Brazil’s ACFIs innovate in the regulation of foreign investments? Alternatives to the current liberal […]

Farmland Investments and Water Rights in Africa: The Legal Regimes Converging over Land and Water

Access to water is the driving force behind the surge in foreign investment in farmland. Yet, with all the focus on “land grabbing” and food security, water issues have received little attention. Although essential to life, water resources tend to be taken for granted until they are strained or completely depleted. They may seem abundant, […]

Working by Design: New Ideas to Empower U.S. and European Workers in TTIP

The 21st century has not been the best of times for U.S. and European workers. They have been buffeted by job losses, underemployment, and economic insecurity. Many individuals toil without benefits or job security.[1] Although workers are increasingly productive, many of them earn less than they did 20 years ago.[2] EU and U.S. policy-makers argue […]

The Merits and Limitations of General Exception Clauses in Contemporary Investment Treaty Practice

The international investment agreement (IIA) regime is experiencing an unprecedented surge in public attention. Prime examples are the debates surrounding the conclusion of the Canada–European Union Comprehensive Trade and Investment Agreement (CETA) and the ongoing negotiations of the Transatlantic Trade and Investment Partnership Agreement between the United States and the European Union (TTIP). In Germany, […]

Rethinking Investment-Related Dispute Settlement

Investor–state dispute settlement (ISDS), a concept much unknown to the broader public and even top policy-makers only a year ago, is making headlines, especially as the European Union and the United States contemplate including the mechanism in the deal they are currently negotiating, the Transatlantic Trade and Investment Partnership (TTIP). Public awareness is growing of […]

Experts at UNCTAD Meeting Give Shape to IIA Reform Options

More than 300 experts and delegates from member states, international organizations, NGOs, the private sector and academia attended the United Nations Conference on Trade and Development (UNCTAD) Meeting on the Transformation of the International Investment Agreement (IIA) Regime from February 25 to 27, 2015 in Geneva. Working in breakout and plenary sessions, the experts explored […]

Investment Law and the 1%: On Which Side of the Divide?

The increasing concentration of wealth—often referred to as “the 1% issue”—raises serious concerns. The World Economic Forum, in its top ten trends of 2015, states: At the top of this year’s list is worsening income inequality. As the world’s rich continue to accumulate wealth at record rates, the middle class is struggling. Today, the top […]

The Brazil–Mozambique and Brazil–Angola Cooperation and Investment Facilitation Agreements (CIFAs): A Descriptive Overview

Brazil and Mozambique signed on March 30, 2015 the first Cooperation and Investment Facilitation Agreement (CIFA) based on Brazil’s new model bilateral investment treaty (BIT). The second was signed on April 1, 2015 between Brazil and Angola. Unlike traditional BITs, which are geared towards investor protection, the CIFAs focus primarily on cooperation and investment facilitation. […]

China’s Antitrust Crackdown Hits Qualcomm with US$975 Million Fine: What Can Other Host States Learn from the Story?

In February 2015, Qualcomm Inc. (Qualcomm), the world’s leading cellular chip maker, headquartered in California, was ordered by the Chinese anti-monopoly authority to pay a fine of RMB 6.088 billion (approximately US$975 million) for antitrust offenses against Chinese consumers,[1] following a 14-month-long investigation of the company’s anti-competitive practices. Seen by many as one of the […]

Everyone’s Doing It: The Acceptance, Effectiveness and Legality of Performance Requirements

For policymakers charged with investment portfolios, the challenge is not simply about attracting greater flows of foreign direct investment (FDI). At least as important is trying to maximize the domestic economic and social benefits that result from those investments. This can be achieved with tax policies or targeted recruitment of specific investments with promising potential […]

The International Investment Regime at a Crossroad: Should We be Rethinking Foreign Investment Governance?

The international investment regime (IIR) has been in crisis since it attracted the attention of the international community in the early 2000s. This crisis began with awards like Metalclad v. Mexico and TECMED v. Mexico, where tribunals promoted the stability of the legal and business framework while seriously constraining the policy space of host states. […]

State Regulatory Autonomy and Tobacco Control in International Trade and Investment Law

Tobacco companies are frequently turning to international trade and investment agreements as a tool to challenge domestic tobacco control measures. Cases to date include: Indonesia’s successful challenge before the World Trade Organization (WTO) of the U.S. exemption of menthol from its ban on flavoured cigarettes;[1] the pending WTO claims by Cuba, the Dominican Republic, Honduras, Indonesia […]

Political Change vs. Legal Stability: Problems Arising from the Application of Investment Treaties in Transitions from Authoritarian Rule

Investment treaties protect foreign investors from a range of host state conduct that affects their investments. One influential view is that the purpose of these treaties is to provide legal stability for foreign investors. While this view is shared by arbitral tribunals,[1] academic commentators,[2] and lawyers acting for foreign investors,[3] it finds relatively little support […]

In Accordance with Which Host State Laws? Restoring the ‘Defence’ of Investor Illegality in Investment Arbitration

Investment treaties are often criticised for being too ‘investor-friendly.’ With this in mind, it becomes important to clarify the mechanisms available to host states to defend against investment treaty claims. One such mechanism is found in the provisions included in many investment treaties, to the effect that investors must comply with host state law in order for their investment to enjoy treaty protection.

Litigating Intellectual Property Rights in Investor-State Arbitration: From Plain Packaging to Patent Revocation

Enforcing intellectual property (IP) rights abroad is a difficult enterprise. International IP treaties have generally not created global, directly enforceable IP rights. Usually, the protection they confer cannot even be directly invoked in front of national courts. Rather, because of the territorial nature of IP protection, right holders must enforce their rights in local courts based on local laws. Litigating one’s IP rights abroad hence faces significant hurdles.

However, international investment law may offer some options to overcome these hurdles.

Who is Afraid of Investor-State Arbitration? Unpacking the Riddle of ‘No Greater Rights’ in the TTIP

The Trans-Atlantic Trade and Investment Partnership (TTIP) has been creating expectations and stirring fears ever since it was announced by EU Commission President José Manuel Barroso and US President Barack Obama in mid-2013.[1] The promise to boost trans-Atlantic economic exchange in the world’s largest free-trade area came along with the aim to “include investment … […]

Risky Business or Risky Politics: What Explains Investor-State Disputes?

While there is a fair amount of scholarly work on the determinants of expropriation, we know less about the political and economic conditions under which the broader category of investor-state disputes take place. This article provides a statistical analysis of political and economic factors that contribute to the likelihood of an investor-state dispute; and a qualitative coding of measures which have resulted in arbitration cases.