Protecting Investment in Services
Investor-state Arbitration Versus WTO Dispute Settlement
By: Martín Molinuevo
About This Book
La 4e de couverture indique : "International economic relations are governed by two bodies of international law. Trade in goods and services is the domain of international trade law, embodied in the WTO agreements. Foreign investment is governed by international investment law, consisting of a vast network of investment agreements, including bilateral investment treaties (BITs) and preferential trade agreements (PTAs). These two different fields of international law share a large area of overlap: foreign investment in services, around 55% of all global direct investment, is covered by both investment agreements and the WTO General Agreement on Trade in Services (GATS). Since the rights and obligations featured in the two frameworks are not always compatible, this legal overlap reduces transparency and undermines governments' regulatory capacity in an unanticipated manner. This is the first book to tackle investment law and trade law jointly, and to compare the principles, rules, and dispute-settlement mechanisms of investment agreements with the multilateral framework of the WTO/GATS. Among the many invaluable questions the book addresses are the following: What are the substantive rules that apply to investment in services under investment agreements and the GATS? - How do these disciplines differ? Which offers the best protection for investors in services and do they affect the governments' policymaking capacity? - Who can gain access to investor-State arbitration and WTO dispute settlement?. The in-depth analysis, supported by an extensive review of existent jurisprudence, provides a thorough explanation of treaty standards like most favoured nation, national treatment, fair and equitable treatment, domestic regulation, and transparency, as well as procedural rules on access to the dispute-settlement mechanisms and enforcement procedures. Policymakers will find relevant insights in this work, as it provides a thorough review of legal matters that limit policy decisions and bring about possible contradictions between the two bodies of international economic law. Legal practitioners will benefit from the book's clear guidelines on the pros and cons of the trade and investment legal frameworks, and under what conditions each system is best suited to protect foreign investment in services."
AI Overview
The book "Protecting Investment in Services: Investor-State Arbitration vs. WTO Dispute Settlement" by Martín Molinuevo provides a comprehensive analysis of the legal frameworks governing foreign investment in services. Here is a detailed overview of the book:
Key Themes
- Investment Law and Trade Law: The book is the first to jointly tackle investment law and trade law, comparing the principles, rules, and dispute-settlement mechanisms of investment agreements with the multilateral framework of the World Trade Organization (WTO) and the General Agreement on Trade in Services (GATS).
- Legal Frameworks: It delves into treaty standards such as most favored nation (MFN), national treatment, fair and equitable treatment, domestic regulation, and transparency. The book also examines procedural rules on access to dispute-settlement mechanisms and enforcement procedures.
- Dispute Settlement Mechanisms: The book compares the dispute-settlement mechanisms of investor-state arbitration with those of WTO dispute settlement, highlighting the pros and cons of each system in protecting foreign investment in services.
- Regulatory Capacity: It discusses how the overlap between investment agreements and WTO/GATS can reduce transparency and undermine governments' regulatory capacity, leading to potential contradictions in policy decisions.
Plot Summary
The book is structured to provide a thorough review of the legal matters that limit policy decisions and bring about possible contradictions between the two bodies of international economic law. It offers clear guidelines on the trade and investment legal frameworks, explaining under what conditions each system is best suited to protect foreign investment in services. The in-depth analysis is supported by an extensive review of existing jurisprudence, making it a valuable resource for policymakers, legal practitioners, and scholars in the field.
Critical Reception
While specific reviews are not provided in the sources, the book's relevance and comprehensive nature are highlighted. Policymakers will find relevant insights into the legal matters that limit policy decisions, and legal practitioners will benefit from the clear guidelines on the pros and cons of the trade and investment legal frameworks.
Author Background
Martín Molinuevo is a consultant in the World Bank Group Trade and Competitiveness Global Practice, focusing on international trade in services, trade agreements, and regulation. He has previously worked for various international organizations, including the WTO, UNCTAD, and the EU, on matters related to trade in services and foreign investment. He holds a Doctor Iuris magna cum laude from the University of Bern, Switzerland, and has published articles in international journals and contributed chapters to various edited books.
Publication Details
The book was published in December 2011 by Kluwer Law International. It is available in hardback and eBook formats, with ISBN 9789041138279.