Summary

The past few years saw a proliferation of international investment agreements (IIAs) at the bilateral, regional and interregional levels. Several developments are worth noting in this context. First, the universe of IIAs consisting of bilateral investment treaties (BITs) and other trade and investment agreements continued to expand. Second, a new generation of IIAs is emerging with provisions that tend to be increasingly sophisticated and complex in content, clarifying in greater detail the meaning of certain standard clauses and covering a broader range of issues. Third, ...