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The Evolving Nature of the Fair and Equitable Treatment (FET) Standard: Challenging Its Increasing Pervasiveness in Light of Developing Countries’ Concerns - The Case for Regulatory Rebalancing

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The fair and equitable treatment (FET) standard is undoubtedly a key feature of most International Investment Agreements concluded by developing countries today. In practice however, the standard raises a number of potent concerns which have not gone unnoticed. This article accordingly attempts to critically analyze the increasing intrusiveness of the FET standard in light of growing concerns expressed by developing countries following a number of large arbitral awards which have been handed down against them. In this regard, the article not only challenges the conceptual underpinnings of the standard but also the substantive elements which have become synonymous with it. It concludes by providing an approach to regulatory balancing which would reposition the FET standard in the context of other investment protection standards as well as the standing of developing countries.

Affiliations: 1: LL.B (Hons), University of the West Indies; LL.M, University of Nottingham, PhD (Candidate), Durham University,


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