IIA Issues Note: Recent Developments in the International Investment Regime

By UNCTAD, Published by UNCTAD, May 2018

The note highlights that the number of new IIAs concluded in 2017 was the lowest since 1983, and that, for the first time, the number of effective treaty terminations outpaced the number of new IIAs. Reform is well under way across all regions. Since 2012, over 150 countries have taken steps to formulate a new generation of sustainable development-oriented IIAs. They have reviewed their treaty networks, revised their treaty models and are beginning to modernize the existing stock of old-generation treaties. An increasing number are issuing interpretations, and replacing and consolidating their older agreements. Many have also been engaging in multilateral reform discussions, including with regard to ISDS. After improving the approach to new treaties and modernizing existing treaties, the piece calls for the last step in the reform process (Phase 3): ensuring coherence with national investment policies and other bodies of international law. Available at http://investmentpolicyhub.unctad.org/Publications/Details/1186