Cookies Policy

This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies.

I accept this policy

Find out more here

Full Access The regime of international investments within the Association Agreements: towards a new comprehensive regulation?

No metrics data to plot.
The attempt to load metrics for this article has failed.
The attempt to plot a graph for these metrics has failed.
The full text of this article is not currently available.

Brill’s MyBook program is exclusively available on BrillOnline Books and Journals. Students and scholars affiliated with an institution that has purchased a Brill E-Book on the BrillOnline platform automatically have access to the MyBook option for the title(s) acquired by the Library. Brill MyBook is a print-on-demand paperback copy which is sold at a favorably uniform low price.

The regime of international investments within the Association Agreements: towards a new comprehensive regulation?

  • PDF
Add to Favorites
You must be logged in to use this functionality

After the failure of attempts to conclude a Multilateral Agreement on Investment (MAI), there is currently no adequate way of regulating FDI at the multilateral level. The fragmentation of the discipline is accompanied by both an excessive focus on promoting cross-border investments and a limited ability to protect public goods such as natural heritage, cultural diversity and democracy. In other words, the promotional approach prevails over the regulatory one. If the picture looks pretty bleak for the multilateral regulation of international investments, certainly the same cannot be said for development of the discipline by regional agreements. The number of these treaties notified to the WTO stands at nearly 500, ninety percent of which are represented by free trade areas. The growth of regionalism has a strong impact on the regulation of international investments, in the light of the inclusion within regional agreements of chapters governing the movement of capitals and the protection of foreign investors’ rights. From the point of view of regulatory fragmentation, this phenomenon can certainly be considered as negative by virtue of the possible legislative and jurisdictional conflicts; however, regarding the protection of certain Public Interests, this increase can be interpreted in a positive way. Specifically, in these forms of economic integration, despite the provisions included in the BITs, the liberalisation of markets, as well as the investor protection, are not the central purposes of the Agreements. They are instead part of a larger framework that views these objectives as mere instruments for the socio-economic development of the Contracting Parties. Paying particular attention to Association Agreements signed by the EU (and its Member States) with third countries, this paper argues that these treaties represent the ideal structure for the regulation of economic issues and, more particularly, for the flow of capital and investments across borders. Especially after the entry into force of the Lisbon Treaty, which brings the issue of FDI within the scope of the Common Commercial Policy.


Full text loading...


Data & Media loading...

1. Aaken A. , ‘ "Fragmentation of international law"’, The Finnish Yearbook of International Law Vol 17( 2008): 91130.
2. Adinolfi G. ,, ‘ "Gli strumenti di cooperazione economica e la protezione degli investimenti"’. In I Rapporti di Vicinato Dell’Italia con Croazia, Serbia-Montenegro e Slovenia . ed. Ronzitti N. ( Rome: Luiss University Press, 2005) 269305.
3. Adlung R. , ‘ "MFN exemptions under the general agreement on trade in services"’, Journal of International Economic Law Vol 12( 2) ( 2009): 357392.
4. Aliboni R. , L’iniziativa dell’Unione Europea per il Mediterraneo: Gli Aspetti Politici ( Istituto Affari Internazionali, Contributi di Istituti di ricerca specializzati, n. Vol 85, January 2008) 114.
5. Alvarez A.G. , ‘ "The new face of investment arbitration: NAFTA Chapter 11"’, The Yale Journal of International Law Vol 28( 2) ( 2003): 365407.
6. Alvarez A.G. , ‘ "Investments, fair and equitable treatment, and the principle of “respect for the integrity of the law of the host state”"’. In Looking to the Future ( 2011) 579605.
7. Appicciafuoco L. , ‘ "L’ Unione europea e la condizionalità democratica nelle relazioni con i Paesi dei Balcani occidentali"’, Studi Sull’integrazione Europea Vol 5( 2) ( 2010): 492508.
8. Baldwin R. , Low P. Mulitlateralizing Regionalism, Challanges for the Global Trading System ( Cambridge: Cambridge University Press, 2009).
9. Collins D. , ‘ "A new role for the WTO in international investment law: Public interests in the post-neoliberal period"’, Connecticut Journal of International Law Vol 25( 1) ( 2009–2010): 135.
10. Correa C. , Kumar N. Protecting Foreign Investment: Implications of WTO Regime and Policy Options ( London: Zed Books Ltd, 2003).
11. Cosbey A. , Mann H. , Peterson L.E. , et al, Investment and Sustainable Development: A Guide to the Use and Potential of International Investment Agreements ( International Institute for Sustainable Development, 2004).
12. Cremona M., A Constitutional Basis for Effective External Action? An Assessment of the Provisions on EU External Action in the Constitutional Treaty, EUI Working Papers, Law n. 2006/30.
13. De Sterlini M.L. ,, ‘ "The agreement on trade releated investment measures"’. In The World Trade Organization: Legal, Economic and Political Analysis . eds. Macrory P.F.J. , Appleton A.E. , Plummer M.G. ( Springer, 2005) 437485.
14. Del Sarto R.A. , Schumacher T. , ‘ "From EMP to ENP: What's at stake with the European neighbourhood policy towards the Southern Mediterranean?"’ European Foreign Affairs Review Vol 10( 1) ( 2005): 1738.
15. Di Nolfo E. , Storia Delle Relazioni Internazionali 1918–1999 ( Rome, Bari: Editori Laterza, 2007).
16. Dimopoulos A. , ‘ "The effects of the Lisbon treaty on the principles and objectives of the common commercial policy"’, European Foreign Affairs ( 2010): 153170.
17. Dolzer R. , Schreuer C. , Principles of International Investment Law ( Oxford: Oxford University Press, 2008).
18. Dupuy P.-M. ,, ‘ "Unification rather than fragmentation of international law? The case of international investment law and human rights law"’. In Human Rights in International Investment Law and Arbitration . eds. Dupuy P.-M. , Francioni F. , Petersmann E.U. ( Oxford: Oxford University Press, 2009) 4563.
19. Fry J.D. , ‘ "International human rights law in investment arbitration"’, Duke Journal of Comparative & International Law Vol 18( 2007/08): 77149.
20. Giardina C. ,, ‘ "Aspetti giuridici del partenariato economico e finanziario nell’area euro mediterranea"’. In Aspetti Giuridici del Partenariato Euromediterraneo . ed. Marchisio S. ( Milan, 2001) 1734.
21. Hermann C. , ‘ "The Treaty of Lisbon extends the EU's external trade and investment powers"’, ASIL Insights Vol 14( 2010) 28, at
22. Hindelang S. , Maydell N. ,, ‘ "The EU's common investment policy – connecting the dots"’. In International Investment Law and EU Law . eds. Brungenberg M. , Griebel J. , Hindelang S. ( London, New York: Special Edition of European Yearbook of International Economic Law, Springer, 2010) 2943.
23. Hoekman B. ,‘ "Assessing the general agreement on trade in services"’. In The Uruguay Round and the Developing Countries . eds. Martin W. , Winters L.A. ( Cambridge: Cambridge University Press, 1996) 88124.
24. Lavranos N. , ‘ "New developments in the interaction between international investment law and EU law"’, The Law and Practice of International Courts and Tribunals Vol 9( 2010): 409441.
25. Liberti L. ,, ‘ "Investissement et droits de l’Homme"’. In Les Aspects Nouveaux du Droit des Investissements Internationaux . eds. Kahn P. , Ben Hamida W. ( 2007) 791852.
26. Maes M. , ‘ "The Lisbon Treaty and the new EU investment competence"’. In Reclaming Public Interest in Europe's International Investment Policy ( Seattle to Brussels Network, 2010) 1113.
27. Mandarino C. , Granziera E. ,, ‘ "Gli accordi commerciali multilaterali e settoriali"’. In Neoliberismo Internazionale e Global Economic Governance . ed. Comba A. ( Turin: Giappichelli Editore, 2008) 146148.
28. Mauro M.R. , ‘ "Accordi internazionali sugli investimenti e Unione europea"’, Studi Sull’integrazione Europea Vol 2( 2010): 403430.
29. Nowak C. ,, "Legal arrangements for the promotion and protection of foreign investments within the framework of the EU Association Policy and the European Neighbourhood Policy"’. In International Investment Law and EU Law . eds. Brungenberg M. , Griebel J. , Hindelang S. ( London, New York: Special Edition of European Yearbook of International Economic Law, Springer, 2010) 105138.
30. Phinnemore D. , ‘ "Stabilisation and association agreements"’, European Foreign Affairs Review Vol 8( 1) ( 2003): 77103.
31. Rafael Leal-Arcas ‘ "The European Union's Trade and investment policy after the Treaty of Lisbon"’, The Journal of World Investment and Trade Vol 11( 4) ( 2010): 463514.
32. Sacerdoti G. , ‘ "Bilateral treaties and multilateral instruments on investment protection"’, Recueil des Cours Vol 269( 1997): 255460.
33. Salacuse J.W. , Sullivan N.P. , ‘ "Do BITs really work?: An evaluation of bilateral investment treaties and their Grand Bargain"’. In Harward International Law Journal ( 2005): 67130.
34. The Economist, Choosing New Friends, The European Union is Struggling to Help Arab Revolutionaries(April 9 th– 15 th2011) 34.
35. United Nations Conference On Trade And Development, Multilateralism and Regionalism, The New Interface . eds. Mashayekhi M. , Ito T. ( United Nations, New York and Geneva, 2005).
36. Valenti M. ,, ‘ "Gli standard di trattamento nell’interpretazione dei trattati in materia di investimenti stranieri"’. In Diritto Internazionale dell’economia. eds. Carbone S.M. , Comba A. , Coscia G. , Sacerdoti G. , Venturini G. ( Turin: Giappichelli Editore, 2009).
37. Viesti G. ,, ‘ "Tendenze e prospettive dell’integrazione economica euromediterranea"’. In Europa e Mediterraneo, Le Regole per la Costruzione di una Società Integrata . ed. Triggiani E. (Bari: Atti del XIV Convegno della Società Italiana di Diritto Internazionale, 18–19 June 2009) 505510.

Article metrics loading...



Can't access your account?
  • Tools

  • Add to Favorites
  • Printable version
  • Email this page
  • Subscribe to ToC alert
  • Subscribe to Citation alert
  • Get permissions
  • Recommend to your library

    You must fill out fields marked with: *

    Librarian details
    Your details
    Why are you recommending this title?
    Select reason:
    The Journal of World Investment & Trade — Recommend this title to your library
  • Export citations
  • Key

  • Full access
  • Open Access
  • Partial/No accessInformation