TBI

Laudos  |  agosto 10, 2016

Awards and Decisions

(English) The long-expected final award has been rendered in the high-profile case initiated by tobacco giant Philip Morris in early 2010 against Uruguay over its tobacco control measures.

Mappinginvestmenttreaties.com: Uncovering the secrets of the investment treaty universe

Did you know that the United Kingdom’s treaty network is twice as consistent as that of Egypt or Pakistan? Have you noticed that 81 per cent of the TPP’s investment chapter is the same as the investment chapter in the U.S.–Colombia FTA, concluded ten years before, in 2006? Treating investment treaty texts as data can equip policy-makers, practitioners and researchers with a more sophisticated understanding of the universe of international investment agreements.

The Need for a Southern Observatory on Transnational Investment

The Observatory is an intergovernmental initiative to provide information and exchange of knowledge and experiences on investment arbitration. It also aims at creating equal conditions between investors and states so as to promote sustainable investment that respects state sovereignty.

ITN  |  mayo 16, 2016

ICSID tribunal orders Zimbabwe to return expropriated farms

(English) In a 318-page award issued July 28, 2015 but only published February 2016, a tribunal at the International Centre for Settlement of Investment Disputes (ICSID) ordered Zimbabwe to return farms it seized without compensation in 2005.

(English) The Law of Investment Treaties

(English) The book examines the law of international investment treaties, specifically in relation to its origins, structure, content, and effect, as well as their impact on international investors and investments, and the governments that are parties to them.

The Brazilian Agreement on Cooperation and Facilitation of Investments (ACFI): A New Formula for International Investment Agreements?

(English) Since the signing of the first Agreement on Cooperation and Facilitation of Investments (ACFI) by Brazil, in March 2015, English translations of the document and analyses of its innovative aspects have been published. The hidden question is: to what extent do Brazil’s ACFIs innovate in the regulation of foreign investments?

Rethinking Investment-Related Dispute Settlement

Investor–state dispute settlement (ISDS), a concept much unknown to the broader public and even top policy-makers only a year ago, is making headlines, especially as the European Union and the United States contemplate including the mechanism in the deal they are currently negotiating, the Transatlantic Trade and Investment Partnership (TTIP). Public awareness is growing of […]

The Brazil–Mozambique and Brazil–Angola Cooperation and Investment Facilitation Agreements (CIFAs): A Descriptive Overview

(English) Brazil and Mozambique signed on March 30, 2015 the first Cooperation and Investment Facilitation Agreement (CIFA) based on Brazil’s new model bilateral investment treaty (BIT). The second was signed on April 1, 2015 between Brazil and Angola. Unlike traditional BITs, which are geared towards investor protection, the CIFAs focus primarily on cooperation and investment facilitation. They promote amicable ways to settle disputes and propose state–state dispute settlement as a backup; notably, they do not include provisions on investor–state arbitration.

Everyone’s Doing It: The Acceptance, Effectiveness and Legality of Performance Requirements

For policymakers charged with investment portfolios, the challenge is not simply about attracting greater flows of foreign direct investment (FDI). At least as important is trying to maximize the domestic economic and social benefits that result from those investments. This can be achieved with tax policies or targeted recruitment of specific investments with promising potential […]

Peru’s State Coordination and Response System for International Investment Disputes

Just as Peru has joined the global trend of concluding investment protection agreements, the country has also been no stranger to the considerable increase in international investment disputes observed in recent years. To address this growth in international investment arbitration in line with its investment attraction policy, Peru has created a system for efficiently and effectively resolving potential disputes.

ITN  |  octubre 19, 2012

Investment Treaties and Investor Corruption: An Emerging Defense for Host States?

Bilateral investment treaties are famously asymmetric. They grant investors rights but not obligations, while imposing upon states obligations unaccompanied by rights. Recent cases suggest, however, that BIT tribunals are poised to recognize a defense to state liability that, in effect, imposes upon investors the obligation to avoid involvement in public corruption in the course of making a treaty-protected investment. Despite these suggestive jurisprudential trends, however, the specific contours of the emerging corruption defense are uncertain.

Consent to Arbitration Through National Investment Legislation

National investment codes[1] may function as potential sources of international investment law. In other words, states may make unilateral undertakings within the framework of national investment legislations and, as a result, be considered as having “created international obligation[s]”.[2] The addressees of national investment legislations are foreign investors as well as the state that is itself […]

Mission Creep: International Investment Agreements and Sovereign Debt Restructuring

As members of the Eurozone are now acutely aware, the lack of a sovereign debt restructuring regime is one of the most glaring gaps in the international financial architecture. That said, this summer’s decision by a tribunal of the International Centre for Settlement of Investment Disputes (ICSID), which grants a bilateral investment treaty (BIT) jurisdiction […]

The Netherlands: A Gateway to ‘Treaty Shopping’ for Investment Protection

It is an established fact that many transnational companies choose the jurisdiction of the Netherlands as a base for their global trade and investment operations, at least partly because of the country’s favourable tax regime that facilitates corporate tax avoidance strategies.[1] A new report by the Centre for Research on Multinational Corporations (SOMO) entitled “Dutch […]

2010 midterm congressional elections in the United States: Implications for new U.S. International Investment Agreements

The Republican victories in U.S. congressional elections on 2 November 2010 are widely assumed to have increased the odds that the Obama administration will proceed with new bilateral investment treaties (BITs) and free trade agreements (FTAs) containing investment chapters. But this assumption bear closer examination. The post-election situation is complex.

UNCTAD’s 2010 World Investment Forum: High-level experts discuss investment policies for sustainable development

The 2010 World Investment Forum (WIF), held on 6-9 September 2010, in Xiamen, China, turned UNCTAD into the global gravity center for open, universal, inclusive and high-level international investment discourse and policy formation. Eight events and conferences were attended by more than 1,800 participants from 120 countries and 16 international organisations, among them nine heads of State, four heads of international organisations, 79 ministerial-level officials, and 116 senior business executives.

ITN  |  septiembre 23, 2010

Bilateral Investment Treaties and Preferential Trade Agreements: Is a BIT really better than a lot?

With the often costly and far-reaching implications when investors use Bilateral Investment Treaties (BITs) to adjudicate claims against developing countries, governments in the developing world need powerful arguments to justify that these treaties are in their national interest. One notable contribution to this debate has recently been put forth by political scientists Jennifer Tobin and Mark Busch, who set out to investigate the link between BITs and preferential trade agreements (PTAs). Using statistical techniques, they analyse annual data on pairs of developing and developed countries between 1960 and 2004 and conclude that BITs “raise the prospects of getting a North-South PTA with all the deeper and reciprocal obligations that these entail.”

ITN  |  octubre 1, 2009

Advisory committee submits report on the United States model bilateral investment treaty

By Damon Vis-Dunbar 2 October 2009 An advisory committee to the U.S. Department of State and the Office of the United States Trade Representative has issued its report on the United States’ model bilateral investment treaty. The United States is reviewing its model BIT with an emphasis on three topics in particular: (a) dispute settlement […]

ITN  |  septiembre 1, 2009

United States Trade Representative and State Department hold Public Hearing and Solicit Written Comments in US Model BIT Review

By Elizabeth Whitsitt 2 September 2009 Last updated five years ago, the United States’ Model Bilateral Investment Treaty (BIT) is currently under review by the US Administration to ensure that it is consistent with the public interest and the overall U.S. economic agenda. As previously reported in the June 2009 edition of ITN*, an investment […]

ITN  |  julio 15, 2009

South African trade department critical of approach taken to BIT-making

By Damon Vis-Dunbar 15 July 2009 A position paper published by the Government of South Africa takes a critical posture towards the country’s bilateral investment treaties (BITs). “Existing international investment agreements are based on a 50-year-old model that remains focused on the interests of investors from developed countries.” writes the Department of Trade and Industry […]

ITN  |  junio 8, 2009

Norway shelves its draft model bilateral investment treaty

By Damon Vis-Dunbar 8 June 2009 Norway has abandoned a draft model bilateral investment treaty (BIT), following public input that was largely critical. The draft text of the model BIT, released to the public in December 2007, features a number of innovations over previous Norwegian BITs, including transparent investor-state dispute settlement procedures, the requirement to […]

ITN  |  junio 5, 2009

United States reviews its model bilateral investment treaty

By Damon Vis-Dunbar 5 June 2009 The United States has embarked on a review of its model bilateral investment treaty (BIT). Last updated in 2004, the US closely adheres to the model in its BIT negotiations with other countries. The BIT review follows campaign pledges by President Barack Obama, in which he committed to “ensure […]

ITN  |  abril 30, 2009

Do Bilateral Investment Treaties Lead to More Foreign Investment?

By Damon Vis-Dunbar and Henrique Suzy Nikiema 30 April 2009 The global network of over 2600 bilateral investment treaties (BITs) has been built on the basis of promoting foreign direct investment (FDI), and yet, after a decade of research, whether in fact BITs lead to an increase in FDI flows is a matter of debate. There […]

ITN  |  febrero 6, 2009

U.S. academics urge the Obama administration to improve the international investment regime

By Damon Vis-Dunbar 6 February 2009 Faculty at Columbia University in New York have called on U.S. President Barack Obama’s administration to address “imperfections” in the international legal regime that governs foreign investment. In a letter to the President, the academics write: “While the current international investment regime has been heralded as a great success, […]

ITN  |  diciembre 15, 2008

Se Debaten Méritos de Arbitraje entre Inversor-Estado en Seminario de Arbitraje Internacional auspiciado por Fiscal General ecuatoriano

Por Fernando Cabrera Díaz 9 de Diciembre, 2008 El 1-2 de diciembre Noticias sobre Tratados de Inversión asistió a un seminario de dos días sobre arbitraje internacional en Quito, Ecuador, auspiciado por la Procuraduría General de Ecuador. El seminario se enfocó en el arbitraje internacional de inversión y su relación con la soberanía estatal. Se […]

ITN  |  diciembre 10, 2008

re: Investment Arbitration in Brazil: Yes or No?

As an arbitrator and one who does not have any connection with the Brazilian legal system, I  can more particularly identify with the views of Weiler and de Oliveira. I can understand the confidence that Brazilians may have in their own courts when faced with the issue of resolving international investment disputes and the question […]

ITN  |  diciembre 9, 2008

Merits of investor-state arbitration debated at international arbitration seminar hosted by Ecuador’s Attorney General

By Fernando Cabrera Diaz 9 December 2008 On 1-2 December Investment Treaty News attended a two-day seminar on international arbitration in Quito, Ecuador, hosted by Ecuador’s Attorney General’s Office. The seminar focused on international investment arbitration and its relation to state sovereignty. Opinions from different sides of the debate were voiced, including from Ecuadorean government […]

ITN  |  diciembre 8, 2008

Arbitrajes de Inversión en Brasil: ¿Si o No?

Por Elizabeth Whitsitt y Damon Vis-Dunbar 30 de Noviembre de 2008 En 1991, Brasil inició uno de los programas de privatización más grandes del mundo, vendiendo más de US$100 mil millones en activos. Diecisiete años más tarde, y con un Producto Interno Bruto (PIB) que califica como número diez en el mundo, Brasil es un […]

Investment Arbitration in Brazil: Yes or No?

By Elizabeth Whitsitt and Damon Vis-Dunbar30 November 2008 In 1991, Brazil began one of the world’s largest privatization programs, selling more than US$100 billion worth of assets. Seventeen years later and with a Gross Domestic Product (GDP) that ranks tenth in the world, Brazil is an industrial power that, according to the World Bank, is […]