{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Intro to BIT

Intro to BIT - ICSID Introduction to Bilateral Investment...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: ICSID Introduction to Bilateral Investment Treaties <http://www.worldbank.org/icsid/treaties/intro.htm> The first modern bilateral. investment treaty was entered into nearly forty years ago between Germany and Pakistan. Over the decades that followed an increasing number of European countries concluded such treaties with developing countries. It is however only since the late 19805 that BITS have come to be universally accepted instruments for the promotion and legal protection of foreign investments. Of the over 1,100 treaties that are listed in the present publication, more than 800 have been concluded since 1987, by a growing number of countries. The rapid growth in the number of treaties witnessed to date appears to continue. Most countries that have an established BIT program continue to pursue opportunities to enter into new treaties. In addition. a number of countries that have hitherto refrained from concluding BITs have in recent years begun to negotiate and sign such treaties. This publication lists 155 countries as parties to bilateral investment treaties. It shows how the network of BlTs has expanded since 1959 in all parts of the world. It also shows that BITs are no longer concluded exclusively between capital—exporting and capital-importing countries but that an increasing number of BITs are concluded between developing countries themselves. Modern BITS have retained broad uniformity in their provisions. In addition to deter— mining the scope of application of the treaty, that is. the investments and investors covered by it, virtually all bilateral investment treaties cover four substantive areas: admission, treatment, expropriation and the settlement of disputes. Almost all modern BITs include provisions dealing with disputes between one of the parties and investors having the nationality of the other party. In this respect most provide for arbitration under the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (the ICSID Convention) which entered into force in 1966.1 ICSID has since the early 1970s collected the texts of bilateral investment treaties. Most of these have been included in a multivolume collection of Investment Treaties published by the Centre. Lists of bilateral investment treaties were published in 1989 and 1992 in the ICSID Review-Foreign Investment Law Journal. The Centre also published in 1,995 a book on Bilateral Investment Treaties.2 The present publication was compiled to provide an up to date inventory of a particular area of foreign investment law which has expanded tremendously over a very short period of time. While the treaties listed in this publication only include those that have been entered into bilaterally, it may be recalled that over the last ten years several multilateral agreements with provisions on investment have also been concluded. 3 This publication is divided into three parts. Part 1 provides a chronological list of BITS concluded through the end of 1996. Part II. provides an alphabetical list of signatories, indicating in each case the treaties which that State has concluded. The data contained in both lists, which include signature and (where applicable) entry into force dates, are based on information provided to ICSID by governments. Part III lists atticles and books dealing with BITS. lThe large number of consents given in this manner (in over 900 treaties) has been reflected in lCSID's caseload. Over half of the cases pending before ICSID at present (including two conducted under its Additional Facility Rules) have been initiated in reliance on consents given in treaty provision. For a list of cases submitted to the Centre, see ICSID Cases, Doc. .I.CS1D/1,6/Rev. 5. For a list of other ICSID publications, see infra, at 104. 2Rudolf Dolzer and Margrete Stevens, Bilateral Investment Treaties (.1995). 3These include the North American Fee Trade Agreement, reprinted in 32 ILM 289 ( 1993); the Colonia Protocol on the Reciprocal Promotion and Protection of Investments within Mercosur, signed on January 17, 1994 and the Buenos Aires Protocol on the Promotion and Protection of Investments Made by Countries That are not Parties to Mercos‘ur, signed on August 8, 1994 (both protocols concluded under the Asuncion Treaty Establishing a Common Market Between Argentina, Brazil, Paraguay and Uruguay (Mercosur), signed on March 26, 1991 ); the Treaty on Free Trade Between Colombia, Mexico and Venezuela, signed on June 13, 1994; and the Energy Charter Treaty, reprinted in 34 ILM 38] (1995). ...
View Full Document

{[ snackBarMessage ]}

Page1 / 2

Intro to BIT - ICSID Introduction to Bilateral Investment...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon bookmark
Ask a homework question - tutors are online