The ASEAN Comprehensive Investment Agreement
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The ASEAN Comprehensive Investment Agreement

The Regionalisation of Laws and Policy on Foreign Investment

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 3: Emergence of Asian noodle bowls of IIAs

Julien Chaisse and Sufian Jusoh


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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