The EU Investment Policy in Asia in the Light of ´Dawn of An Asian Century in International Investment Law`
18 Pages Posted: 13 Mar 2020
Date Written: March 11, 2020
After its gradual establishment, the investment policy of the European Union experienced turbulent times when the EU and the United States commenced negotiations on the Trans-Pacific Trade and Investment Partnership. While the public and political focus concentrated on the transatlantic relations with the United States (TTIP) and Canada (CETA), the EU has steadily progressed at different paces with third countries in Asia where it commenced trade and investment negotiations with Singapore, Vietnam, Myanmar, China, Thailand, the Philippines and Indonesia among others. This paper seeks to evaluate how the Union has been successful in its “Asia strategy” in the field of investment negotiation and promotion of its reform approach to the investment protection regime. It offers an overview of the EU investment negotiations with the individual partners in the Far East and explores these relationships and their potential implications. It concludes that it is not surprising that the EU already persuaded the first countries in this region about its novel approach because of their strong motivation to conclude agreements with the EU that will ‘modernise’ and ‘harmonise’ the existing investment protection. On the other hand, challenges persist as it remains to be seen in which direction Asian actors will push for in the development of global investment governance.
Keywords: European Union; International Investment Law; Common Commercial Policy; Free Trade Agreement; Investment Protection Agreement
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