Investment treaties are among the most powerful and controversial instruments of international economic governance. They grant foreign investors broad protections from interference by the governments of the countries in which they invest. They also establish an international mechanism for adjudication and enforcement, allowing foreign investors to bypass national courts and, instead, bring cases against states directly to international arbitration. The amount at stake in these disputes regularly runs into billions of dollars. Philip Morris’ recent case against Australia arising from Australia’s tobacco plain packaging legislation is a high profile example. Supporters argue that investment treaties promote foreign investment and respect for the rule of law in countries that are bound by them. Critics argue that investment treaties constitute a ‘bill of rights for multinational corporations’ that is enforced through ‘secret courts’.

This course provides an introduction to the law and policy of the investment treaty regime. The course covers the network of almost 3000 bilateral investment treaties, along with the investment chapters of multi-issue free trade agreements, such as NAFTA and the proposed Trans-Pacific Partnership. It also covers international dispute settlement through investment treaty arbitration under the ICSID and UNCITRAL Rules

More information can be found on the Course Outline Website.