Developments in International Investment Law and Policy in the European Union

Abstract

This chapter reviews international investment law and policy developments in the European Union in 2018. It commences by exploring the state of play of EU investment agreements and ongoing negotiations, before turning to the EU’s promotion of a multilateral investment court in Working Group III of the United Nations Commission on International Trade Law (UNCITRAL) and the Advocate General’s Opinion on CETA’s investment court system. Subsequently, the chapter examines the Achmea judgment, the protection of intra-EU investment post-Achmea, including the member states' political declarations in relation to the effects of the Achmea Judgment, and questions of state aid in relation to the payment of investment awards. Finally, the chapter discusses the draft EU regulation on the screening of foreign direct investment in the Union.

Keywords: International investment law, European Union, intra-EU BITs, Political declarations, termination of intra-EU BITs, Achmea Judgment, Multilateral Investment Court, Opinion 1/17, UNCITRAL Working Group III, ISDS reform, FDI screening on national security grounds, Regulation (EU) 2019/452

JEL Classification: K33, F02, F02, F13, F21, H77, E22, K41, K49, K40, K39, K30, K20, K29, K10, K19