Introduction

During the past decade, a growing number of countries have concluded bilateral treaties for the promotion and protection of foreign investment (BITs) (box 1). By the end of 2004, a total of 2,392 BITs had been signed, representing a sevenfold increase since 1990. UNCTAD research shows that a significant number of these BITs have yet to enter into force. While a certain delay is to be expected between signature and entry into force, for more than 300 BITs that had not entered into force, more than five years had lapsed since the date of signature. This note provides a ...