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The Termination of Indonesia’s BITs: Changing the Bathwater, But Keeping the Baby?

In: The Journal of World Investment & Trade
Author:
Antony Crockett Herbert Smith Freehills Hong Kong

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Online Publication Date:
06 Dec 2017
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Abstract

In 2014, Indonesia began progressively to terminate the 67 bilateral investment treaties (BITs) it has signed since the late 1960s. It does not appear to be Indonesia’s intention, however, to completely abandon investor-State dispute settlement (ISDS) and it is likely that ISDS provisions will be included in a number of new regional treaties being negotiated by Indonesia, including the Regional Comprehensive Economic Partnership. Contrary to Poulsen’s theory of ‘bounded rationality’ it is suggested that Indonesia was not completely ignorant of the implications when it negotiated its first BITs in the 1960s, nor did it merely accept templates foisted upon it by the capital exporting countries of the West. Recent developments appear to confirm that, notwithstanding its decision to terminate its BITs, Indonesia still considers it important that foreign investors are assured of some minimum standards of protection, governed by international law and backed by access to neutral international dispute resolution.

Title:
The Termination of Indonesia’s BITs: Changing the Bathwater, But Keeping the Baby?
Article Type:
Research Article
DOI:
https://doi.org/10.1163/22119000-12340063
Language:
English
Pages:
836–857
Keywords:
arbitration; Association of Southeast Asian Nations (ASEAN); bilateral investment treaties (BITs); foreign direct investment (FDI); International Centre for Settlement of Investment Disputes (ICSID); Indonesia; investor-state dispute settlement (ISDS)
In:
The Journal of World Investment & Trade
In:
Volume 18: Issue 5-6
Publisher:
Brill | Nijhoff
E-ISSN:
2211-9000
Print ISSN:
1660-7112
Subjects:
International Commercial, Trade & Investment Law, International Law

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