The Pan-African Investment Code as a Model for Negotiation on the Investment Protocol to the Agreement Establishing the African Continental Free Trade Area
Article from: TDM 4 (2021), in Africa
The Pan-African Investment Code (PAIC), as the first African model investment treaty, has received harsh criticism from investment experts who have labelled the instrument as 'too protectionist'. African experts drafted the PAIC to promote sustainable development by including non-traditional and ground-breaking features that concern Africa, making the model treaty a unique legal instrument. Those who criticise the PAIC for its protectionist approach towards investment and investors' rights and responsibilities assert that the PAIC is incompatible with sustainable development. ...