The Evolution of Substantive Investment Protections in Recent Trade and Investment Treaties
Inter-American Development Bank (IDB) & International Centre for Trade and Sustainable Development (ICTSD) - RTA Exchange Think Piece
22 Pages Posted: 7 Dec 2018 Last revised: 10 Apr 2020
Date Written: November 7, 2018
Over the years, the substantive content of international investment agreements (IIAs) has shifted to reflect political change and to respond to lessons learnt in investor-state dispute settlement (ISDS). With a focus on eight IIAs, selected with a view to geographical representativeness, this think piece explores substantive standards in recent treaty practice. It finds that new IIAs converge to a large extent with respect to their substantive standards. Old generation IIAs will probably remain dominant for some time as they represent the bulk of existing agreements. But there is a clear trend towards displacing them with the conclusion of new generation IIAs.
Keywords: International Investment Law, Substantive Investment Protection Standards, Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Intra-Mercosur Investment Protocol, Pacer Plus, CETA, EU-Singapore Investment Protection Agreement
JEL Classification: F02, F13, F21, F53, K41, K39, K40, K10, K33, K49, K12, K19, K20, K29, H70, E22, H87, F50, F52
Suggested Citation: Suggested Citation