The Confluence of International Trade and Investment: Exploring the Nexus between Export Controls and Indirect Expropriation
In: New Zealand Yearbook of International LawSearch for other papers by Umair Ghori in
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Abstract
Export controls have received little attention in international trade law. Considering recent decisions in trade disputes involving Chinese control of exports, the area has received renewed interest. This article explores the effect of export controls and their connection with indirect expropriation, especially where export controls are imposed by host states to alleviate shortages. Such controls may prevent a foreign investor from earning revenue through resource exports. The article posits that, in certain situations, export controls can be deemed expropriatory and, therefore, in the settlement of investment disputes between host states and foreign investor, the interpretation of General Agreement on Tariffs and Trade (“gatt”)/World Trade Organization (“wto”) jurisprudence on the area may play a useful role because of the ad hoc nature of investor-state dispute settlement (“isds”) arbitration and due to the lack of precedent in international investment law. However, this role can at best be an initial point, and that space must be reserved for international investment jurisprudence to develop more organically.