Book contents
- Frontmatter
- Contents
- Preface to the second edition
- Preface to the first edition
- Table of cases
- List of abbreviations
- 1 Introduction
- 2 The shaping factors
- 3 Controls by the host state
- 4 The liability of multinational corporations and home state measures
- 5 Bilateral investment treaties
- 6 Multilateral instruments on foreign investment
- 7 Causes of action: breaches of treatment standards
- 8 The taking of foreign property
- 9 Takings in violation of foreign investment agreements
- 10 Compensation for nationalisation of foreign investments
- Bibliography
- Index
6 - Multilateral instruments on foreign investment
- Frontmatter
- Contents
- Preface to the second edition
- Preface to the first edition
- Table of cases
- List of abbreviations
- 1 Introduction
- 2 The shaping factors
- 3 Controls by the host state
- 4 The liability of multinational corporations and home state measures
- 5 Bilateral investment treaties
- 6 Multilateral instruments on foreign investment
- 7 Causes of action: breaches of treatment standards
- 8 The taking of foreign property
- 9 Takings in violation of foreign investment agreements
- 10 Compensation for nationalisation of foreign investments
- Bibliography
- Index
Summary
If states were in agreement as to the norms that constitute the international law of foreign investment, it would have been possible to bring about a multilateral agreement on foreign investment stating the substantive rules which apply in the area. The fact that no such multilateral agreements exist is due to the existence of conflicting approaches to the problem of foreign investment protection and the existence of contending systems relating to the treatment of foreign investment. Several attempts have been made at bringing about a comprehensive code on foreign investment, but they have resulted in failure simply because of the ideological rifts and clashes of interests that attend this branch of international law. Most drafts have been made with the objective of providing as much protection as is possible to foreign investment. These have been rejected by capital-importing states. The entry into the picture of non-governmental organisations further complicates the picture. They object to multilateral agreements which concentrate on investment protection exclusively without addressing issues relating to environmental degradation or human rights violations associated with foreign investment. Some of these organisations take the view that the development interests of the poor are not addressed through such instruments, which seek only to protect the rights of the rich multinational corporations. The entry of these organisations as major players in the area has further complicated the issue of making such agreements. It is relevant to note that non-governmental organisations which supported the rights of the foreign investors have been active in the field for a longer period of time.
- Type
- Chapter
- Information
- The International Law on Foreign Investment , pp. 269 - 314Publisher: Cambridge University PressPrint publication year: 2004
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