International Investment Law and Arbitration: History, Modern Practice, and Future Prospects*

in International Investment Law and Arbitration
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International Investment Law is one of the most dynamically growing fields of International Law as shown by the volume of Bilateral Investment Treaties (bits), and investment chapters in a growing numbers of regional and mega-regional trade agreements. This paper explores the origin, evolution and operation of International Investment Law. It discusses the main actors, the protections afforded to foreign investments and investors, and the content of modern bits. The legal issues and challenges International Investment Law faces today are brought into perspective. Particularly, this paper provides an assessment of the measures put forth by the European Union aimed at transforming the traditional investor-State arbitration system to an Investment Court System. An examination of the nafta re-negotiations is also presented, including the impact that ceta, a trade deal between the eu and Canada could have in the outcome of the current re-negotiations.

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