The ASEAN Comprehensive Investment Agreement
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The ASEAN Comprehensive Investment Agreement

The Regionalisation of Laws and Policy on Foreign Investment

  • Elgar International Investment Law series

Julien Chaisse and Sufian Jusoh

The International Investment regime is one of the fastest growing areas of international economic law which increasingly rely on large membership investment treaties such as the ASEAN comprehensive Investment Agreement. This book comprehensively examines the role of this specific agreement and situates it in the wider trend towards the regionalisation of laws and policy on foreign investment.
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Chapter 2: ASEAN as an important investment destination

Julien Chaisse and Sufian Jusoh

Extract

The period since the North American Free Trade Agreement (NAFTA)’s entry came into force has witnessed a literal explosion in the number of international investment agreements (IIAs) involving many countries. IIAs have been concluded primarily between developed and developing countries to protect the formers’ investors. This phenomenon has also registered an important mutation in the last decade, with a growing number of IIAs concluded between developing countries, characterising the evolution of emerging economies and the ascendancy of sovereign wealth funds. The global regime for investment is dynamic and continually growing. International investment rule-making has undergone a profound mutation over the last few years (which has been depicted by scholars as involving ‘treatification’, legalisation, and also significant normative proliferation). The core of international investment regulations remains based on BITs and bilateral PTAs.

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