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Home > Journal > Advance publication

Arbitragem Internacional como Mecanismo de Atração e Proteção de Investimentos Estrangeiros. Objeções do Brasil ao sistema, Modelo Alternativo de Acordo de Cooperação e Facilitação de Investimentos (ACFI) e propostas de reforma da União Europeia

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C.A. Carbajal Valenzuela
C.A. Carbajal Valenzuela

Published 22 November 2019

Abstract

[10/01/2020 English translation now included] This article briefly discusses the positive and negative aspects of international investment arbitration, from the point of view of host States interested in attracting foreign investment that can contribute to the economic development of the country and from the point of view of multinational companies investing abroad, interested in protecting their assets and investments.
These two interests, promotion and protection of investments and protection of the rights of the States to regulate the investment for the benefit of economic development goals and policies, were those that gave meaning to the creation of ICSID in the 1960s, as an International Arbitration Center that could guarantee neutrality and specialization to both parties in the controversy. There are legitimate public and private interests involved, apparently in conflict, but that must be protected fairly and in a balanced manner, especially to maintain the interest in the continuity and strengthening of the investment arbitration system by the States, foreign investors and the community at large.

The analysis of the traditional objections of a country such as Brazil, as an important actor in the regional and world economy, is essential to evaluate the compliance or not of the original goals of ICSID and of the international investment arbitration system as a whole. In the analysis of the Brazilian position, it will discuss its model of Agreement on Cooperation and Facilitation of Investments (ACFI).
Finally, the European Union, among other key actors, has formulated an interesting proposal to reform the investment dispute resolution system between foreign investors and host States, partly based on critiques that are coincident with the objections of Brazil. The European proposal is in process of development and perfection and contain positive and negative aspects, which are examined in this article.

Resumo

Este artigo discute brevemente os aspectos positivos e negativos da arbitragem internacional de investimentos, do ponto de vista dos Estados receptores interessados em atrair investimento estrangeiro que possa contribuir ao desenvolvimento econômico do país e do ponto de vista das empresas multinacionais que investem no estrangeiro, interessadas em proteger seus ativos e investimentos.

Estes dois interesses, promoção e proteção de investimentos/investidores e proteção do direito estatal a regular em benefício de objetivos e políticas de desenvolvimento econômico, foram os que deram sentido ao nascimento do CIADI na década dos anos 60, como um Centro de Arbitragem Internacional que pudesse garantir neutralidade e especialização a ambas partes na controvérsia. Há nestas disputas legítimos interesses públicos e privados envolvidos, aparentemente em conflito, mas que devem ser protegidos de forma equitativa e equilibrada, especialmente para manter o interesse na continuidade e fortalecimento do sistema arbitral de investimentos, por parte dos Estados, dos investidores estrangeiros e da comunidade em geral.

A análise das tradicionais objeções de um país como o Brasil, importante ator na economia regional e mundial, é essencial para avaliar o cumprimento ou não dos objetivos originais do CIADI e do sistema de arbitragem internacional de investimentos como um todo. A propósito da análise da posição do Brasil, se estudará seu modelo de Acordo de Cooperação e Facilitação de Investimentos (ACFI).

Finalmente, a União Europeia, entre outros atores importantes, formulou uma interessante proposta de reforma do Sistema de Solução de Controvérsias Investidores Estrangeiros vs. Estados, em parte sobre a base de críticas que são coincidentes com as objeções do Brasil. A proposta europeia se encontra em processo de elaboração e aperfeiçoamento e contêm aspectos positivos e negativos, que se analisam neste artigo.

Este artigo é produto da palestra ministrada pelo autor no IV Congresso Internacional de Arbitragem da CAMESC titulado “Arbitragem nas Relações Internacionais”, organizado em Itajaí, Santa Catarina, Brasil, no dia 12 de julho de 2019.

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Suggested Citation

C.A. Carbajal Valenzuela (2019, forthcoming) "Arbitragem Internacional como Mecanismo de Atração e Proteção de Investimentos Estrangeiros. Objeções do Brasil ao sistema, Modelo Alternativo de Acordo de Cooperação e Facilitação de Investimentos (ACFI) e propostas de reforma da União Europeia"
(TDM, ISSN 1875-4120) November 2019, www.transnational-dispute-management.com

"Advance publication" is the name given to material that is published ahead of its appearance in a regular structured issue of our Journal. It is also possible to monitor this via RSS. Subscribers will receive update alerts via e-mail of the published articles as soon as they have been added to the website.

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