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International Investment Perspectives 2006

image of International Investment Perspectives 2006

This annual report reviews recent developments in international direct investment, includes recent statistics and highlights policy responses that will help countries reap the full benefits of investment.  This edition's special focus is on legal and policy issues arising from international investment agreements.  The articles in this section investigate novel features of recent bilateral investment treaties; options for improving the system of investor-state dispute settlement; and the consolidation of claims as an avenue for improving investment arbitration.   Other articles in this volume cover how new technologies are a force advancing the closer integration of national economies;  the challenges and opportunities for policy makers that arise from international investor participation in infrastructure; recent evidence of source (or "home") country benefits of outward direct investment; and the role of the OECD peer review process in building investment policy capacity.

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Consolidation of Claims

A Promising Avenue for Investment Arbitration?

The multiplication of investment agreements with investor-state dispute settlement provisions has raised the risk of multiple and conflicting awards, as the same dispute can lead to awards under different treaty regimes as well as under different contracts. Investors are sometimes able to claim breaches of different BITs and to seek relief through different arbitration proceedings under each of the invoked treaties in respect of a single investment and regarding the same facts. The two “Czech cases”, (CME/Lauder v. the Czech Republic)1 and the approximately 40 cases currently pending against Argentina and arising from the same events demonstrate the increasing complexity of such situations.

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