The Investment Chapter of the Trans-Pacific Partnership Agreement and Latin America: A Possibility of Change and Convergence?

SECO / WTI Academic Cooperation Project Working Paper Series 2015/02

22 Pages Posted: 22 Jun 2015 Last revised: 13 Nov 2015

See all articles by Rodrigo Polanco

Rodrigo Polanco

University of Chile - Faculty of Law; World Trade Institute - University of Bern

Date Written: June 19, 2015

Abstract

This paper analyses the possible effects that would create for Latin American countries, the inclusion of an investment chapter in the Trans-Pacific Partnership (TPP) agreement, currently in negotiation. The article discusses four aspects that are of particular importance given the divergence of interests between some of the negotiating States of the TPP: the substantive protection of foreign investment and its scope; domestic regulations on capital controls; the emergence of state entities as foreign investors; and the settlement of disputes through investor-state arbitration. The author concludes that compared to the current international investment agreements signed by the Latin America countries that are negotiating the TPP, the inclusion of an investment chapter in this agreement is an opportunity to advance in the convergence on the regulation of foreign investment, both in terms of substantive standards of investment protection and to improve investor-state arbitration as a mechanism of dispute resolution.

Keywords: Trans-Pacific Partnership, Investor-State arbitration, foreign investment, regulatory convergence, Latin America

Suggested Citation

Polanco Lazo, Rodrigo, The Investment Chapter of the Trans-Pacific Partnership Agreement and Latin America: A Possibility of Change and Convergence? (June 19, 2015). SECO / WTI Academic Cooperation Project Working Paper Series 2015/02. Available at SSRN: https://ssrn.com/abstract=2621324 or http://dx.doi.org/10.2139/ssrn.2621324

Rodrigo Polanco Lazo (Contact Author)

University of Chile - Faculty of Law ( email )

Avda. Santa MarĂ­a 076 Piso 4
Providencia, Santiago
Chile, Santiago
Chile

HOME PAGE: http://www.derecho.uchile.cl

World Trade Institute - University of Bern ( email )

Hallerstrasse 6/8
Berne, CH-3012
Switzerland

HOME PAGE: http://www.wti.org

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