One of the defining features of the new generation of European investment treaties is the inclusion of market access provisions. It remains to be seen, however, whether and to what extent this might become a standard practice of the eu. This article attempts to answer this question first by reviewing the development of market access policy in the eu and then by analyzing treaty practice on market access both at the eu level and at Member State level. Subsequently, it discusses the more specific issues that may be involved in market access provisions in the potential eu Model bit. It concludes that the world is witnessing a new generation of investment treaties (“Global bit 2.0”) with the eu and other major economic players accepting concrete market access or investment liberalisation commitments, which shall to a considerable degree help pave the way towards a multilateral investment treaty (mit).
Shan and Zhangsupra note 1 p. 1051. See also Niklas Maydell ‘The European Community’s Minimum Platform of Investment or the Trojan Horse of Investment Competence’ in A. Reinisch and C. Knahr (eds.) International Investment Law in Context (Eleven International Publishing 2007) 73–92.
Shan and Zhangsupra note 1 p. 1065.
European Commissionsupra note 4 Article 3.2 of the tfeu provides that “[t]he Union shall also have exclusive competence for the conclusion of an international agreement when its conclusion is provided for in a legislative act of the Union or is necessary to enable the Union to exercise its internal competence or in so far as its conclusion may affect common rules or alter their scope.”