The Regionalisation of Laws and Policy on Foreign Investment
So far, more than 3,000 IIAs have come into effect. There are, approximately, 2,850 BITs which have been concluded worldwide. Asia-Pacific countries have concluded 1,194 BITs. Thus, nearly one-third of BITs in the world are Asian entity. Likewise, around 220 PTAs in the world are on a notification basis, and some PTAs were established without notification. If it is deemed that the majority of them have investment chapters, there are 200 or so PTAs with investment chapters. In Asia-Pacific, there are 61 PTAs (with an investment chapter) which have come into effect since 1959. Among current Asia-Pacific IIAs concluded with leading capital-exporting countries such as the USA or those in Western Europe, the majority of IIAs fall under cross-regional IIAs where a non-Asian party is the capital-exporting country. This implies that the treaty reflects the interest and bargaining power of the capital-exporting country.
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