24-25 OCTOBER 2017 BAKU, AZERBAIJAN

INTERNATIONAL INVESTMENT POLICIES: THE WAY FORWARD

Baku Business Center
Venue

24-25 October 2017
Date

17 speakers
Speakers

2 days
Duration

Overview

Countries in transition are signatories to a significant number of bilateral investment treaties (BITs). In the first years following the end of socialist regimes (early and mid-1990s), they concluded BITs with many leading world economies (the United States, the United Kingdom, Germany etc.) as well as with some other developing and transition countries.

Conclusion of new BITs continued – albeit at a slower pace – after the emergence and growth of treaty-based investor-State dispute settlement (ISDS) cases. By the mid-2000s, when BITs with the major investment-exporting countries had been already in place, most of new BITs were signed with other transition and developing countries. Chapters on investment protection were also included in regional economic integration treaties, sometimes resulting in parallel regulation of foreign investment by more than one international instrument.

In the second half of the 2000s and particularly in 2010s, the content of international investment agreements (IIAs) concluded by countries around the world has been undergoing significant changes. The “new generation” of IIAs include more balanced and sustainable development-friendly provisions and more precise language and safeguards. However, the vast stock of older BITs lack these innovative elements.

Broad and vague formulations in older IIAs may increase countries’ exposure to investor claims. Almost all countries in transition have already faced known treaty-based ISDS claims. The management of investment disputes and coordination of different authorities is therefore an important topic for decision-makers in transition economies. Overlaps of investment treaties and coherence between treaty obligations and national legislation also merit consideration.

IIAs retain their role as an important economic policy tool but need to be adapted to changing realities. Incorporating lessons learned from dispute-settlement and treaty-making practices from around the world is key to reducing legal, financial and reputation risks that may arise from IIAs.

While a few years ago IIA- and ISDS-related issues were of interest for a limited group of specialists only, today mass media worldwide report about it. This transformation is due, among other things, to the negotiation of “mega-regional” agreements (e.g. the TransPacific Partnership, the European Union’s negotiations with Canada and the United States) as well as the multi-million, and sometimes multi-billion, claims that investors continue to mount against governments worldwide. Heated discussions in the media and civil society have fundamentally changed the perception of international investment policies and their global significance.

The goals of the Conference

  To provide decision-makers from countries in transition with an opportunity to discuss the status quo and way forward in international investment law and policy

  To encourage new thinking on international investment policies and treaty making

  To contribute to consensus-building on international investment issues and the reform of the IIA regime

  To allow for the exchange of experiences regarding the management of investment disputes

Key information on International Investment Agreements

Based on UNCTAD IIA Navigator and ISDS Navigator (as of 1 January 2017)

Azerbaijan

  47 BITs signed (35 in force)

  2 known treaty-based investor-State disputes (ISDS cases as respondent State)

  Combined amount sought by investors: at least 760.00 Million USD*

Republic of Moldova

  41 BITs signed (39 in force)

  10 known treaty-based investor-State disputes (ISDS cases as respondent State)

  Combined amount sought by investors at least 100.8 Million USD

 

Albania

  43 BITs signed (36 in force)

  7 known treaty-based investor-State disputes (ISDS cases as respondent State)

  Combined amount sought by investors at least 275.561.122 Million USD

Russian Federation

  80 BITs signed (64 in force)

  24 known treaty-based investor-State disputes (ISDS cases as respondent State)

  Combined amount sought by investors at least 130206.1 Million USD

 

Belarus

  63 BITs signed (51 in force)

  0 known treaty-based investor-State disputes (ISDS cases as respondent State)

  Combined amount sought by investor 0 Million USD (No cases)

Serbia

  52 BITs signed (49 in force)

  7 known treaty-based investor-State disputes (ISDS cases as respondent State)

  Combined amount sought by investors at least 131.3 Million USD

 

Bosnia and Herzegovina

  38 BITs signed (38 in force)

  3 known treaty-based investor-State disputes (ISDS cases as respondent State)

  Combined amount sought by investors at least 1080.9 Million USD

Tajikistan

  35 BITs signed (23 in force)

  1 known treaty-based investor-State disputes (ISDS cases as respondent State)

  Combined amount sought by investors at least 228.00 Million USD

 

Georgia

  32 BITs signed (31 in force)

  8 known treaty-based investor-State disputes (ISDS cases as respondent State)

  Combined amount sought by investors at least 417.8 Million USD

TFYR of Macedonia

  40 BITs signed (35 in force)

  3 known treaty-based investor-State disputes (ISDS cases as respondent State)

  Combined amount sought by investors at least 275.1 Million USD

 

Kazakhstan

  47 BITs signed (42 in force)

  17 known treaty-based investor-State disputes (ISDS cases as respondent State)

  Combined amount sought by investors at least 6825.4 Million USD

Turkmenistan

  27 BITs signed (19 in force)

  9 known treaty-based investor-State disputes (ISDS cases as respondent State)

  Combined amount sought by investors at least 2127.8 Million USD

 

Kyrgyzstan

  35 BITs signed (25 in force)

  13 known treaty-based investor-State disputes (ISDS cases as respondent State)

  Combined amount sought by investors 1835.6 Million USD

Ukraine

  73 BITs signed (57 in force)

  21 known treaty-based investor-State disputes (ISDS cases as respondent State)

  Combined amount sought by investors at least 17826.9 Million USD

 

Montenegro

  28 BITs signed (25 in force)

  3 known treaty-based investor-State disputes (ISDS cases as respondent State)

  Combined amount sought by investors at least 946.8 Million USD

Uzbekistan

  50 BITs signed (47 in force)

  7 known treaty-based investor-State disputes (ISDS cases as respondent State)

  Combined amount sought by investors at least 2034.4 Million USD

17

Speakers

The best experts will perform for you

2

Days

Event duration

> 15

Countries

Experience exchange

Programme

It is available for download

IPCBAKU.com

Opening session

Sahil Babayev, Vice-Minister, Ministry of Economy of the Republic of Azerbaijan;
Joerg Weber, Head Investment Policies Branch, UNCTAD.

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Session 1: Latest developments and key challenges in international investment policies

Chair: Azar Aliyev, Associate Professor of International Economic Law and Comparative Law, Martin Luther University Halle-Wittenberg

The international investment policy landscape is changing. A new generation of investment policies is emerging as countries increasingly adopt policies that aim at ensuring that investment contribute to sustainable development and inclusive growth. The session will shed light on the recent developments in international investment policies; the challenges and opportunities arising from these new dynamics and the need to embed investment policies in national development strategies.

Joerg Weber, Head Investment Policies Branch, UNCTAD;
Ruslan Galkanov, Legal Affairs, Energy Charter Secretariat.

Coffee Break

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Session 2: Reforming the IIA regime: why and how

Chair: Ilia Rachkov, Adjunct Professor, Moscow State Institute of International Relations, International Law Department

Growing unease with the current functioning of the global international investment agreement (IIA) regime, together with today’s sustainable development imperative and the evolution of the investment landscape, have triggered a move towards reforming international investment rulemaking to make it better suited for today’s policy challenges. As a result, the IIA regime is going through a period of reflection, review and revision. This is particularly important in light of the greater role of governments in the economy, the increasing importance of public-private partnerships (PPPs) in developing infrastructure and enhancing public services.

Hamed El-Kady, International Investment Policy Officer, UNCTAD;
Christian Tietje, Professor of Public Law, European Law and International Economic Law, Martin Luther University Halle-Wittenberg;
Guillaume Durand, Policy Officer, European Commission - DG Trade.

Lunch break

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Session 3: Emerging mega-regional investment agreements: implications for the region

Chair: Christian Tietje, Professor of Public Law, European Law and International Economic Law, Martin Luther University Halle-Wittenberg

A large number of so called "megaregional agreements" with investment chapters are currently under negotiations. These are broad economic agreements among a group of countries that have a significant economic weight. They also include agreements negotiated by the EU as part of its new common investment policy. Megaregional agreements could potentially marginalize non-participating third parties. How can negotiators and policymakers of the region be better prepared to address these systemic implications?

Till Patrik Holterhus, Assistant Professor and Lecturer in Law at the Georg-August-University of Goettingen, Germany;
Marina Trunk-Fedorova, Senior Research Fellow - ‎Kiel University, KEEL - Kiel Center for Eurasian Economic Law;
Samira Sulejmanovic, Head of Unit for Bilateral Trade Relations at Ministry of Foreign Trade and Economic Relations, Bosnia and Herzegovina.

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Session 4: Recent developments in treaty-based investment disputes and the way forward

Chair: Jan Schäfer, Partner, King & Spalding, Frankfurt am Main

There are concerns that the current investor-State dispute settlement (ISDS) system exposes host States to legal and financial risks, often unforeseen at point of entering into the IIA; that it grants foreign investors more rights as regards dispute settlement than domestic investors; that it might create the risk of a “regulatory chill” on legitimate government policymaking; that it results in inconsistent arbitral awards; and that it is insufficient in terms of ensuring transparency, selecting independent arbitrators, and guaranteeing due process. How can policymakers address these concerns, and what are the best suited options of reforming investment dispute settlement for the region?

Rolf Knieper, Professor in company law, Bremen University;
Azar Aliyev, Associate Professor of International Economic Law and Comparative Law, Martin Luther University Halle-Wittenberg;
Ilia Rachkov, Adjunct Professor, Moscow State Institute of International Relations, International Law Department.

Lunch break

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Round-table: Sharing of best practices in international investment policies

Chair: Rolf Knieper, Professor in company law, Bremen University

Natalya Boyko, Ministry of Energy and Coal Industry, Ukraine;
Samira Sulejmanovic, Head of Unit for Bilateral Trade Relations at Ministry of Foreign Trade and Economic Relations, Bosnia and Herzegovina;
Hamed El-Kady, International Investment Policy Officer, UNCTAD;
Hussein Haeri, Partner, Withers LLP, London;
Ilgar Mehti, Director, Ekvita consulting company;
Ilia Rachkov, Adjunct Professor, Moscow State Institute of International Relations, International Law Department;
Jan Schäfer, Partner, King & Spalding, Frankfurt am Main;
Samira Sulejmanovic, Head of Unit for Bilateral Trade Relations at Ministry of Foreign Trade and Economic Relations, Bosnia and Herzegovina;
Carlos Jose Valderrama, Foreign Counsel, Sidley Austin, Washington, D.C.

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Closing remarks

Joerg Weber, Head Investment Policies Branch, UNCTAD

Schedule not yet compiled

Schedule not yet compiled

Speakers

Aliyev Azar, Associate Professor of International Economic Law and Comparative Law, Martin Luther University Halle-Wittenberg

Babayev Sahil, Vice-Minister, Ministry of Economy of the Republic of Azerbaijan

Boyko Natalya, Ministry of Energy and Coal Industry, Ukraine

Durand Guillaume, Policy Officer, European Commission - DG Trade

El-Kady Hamed, Senior Investment Policy Officer, UNCTAD

Galkanov Ruslan, Legal Affairs, Energy Charter Secretariat

Haeri Hussein, Partner, Withers LLP, London

Holterhus Till Patrik, Assistant Professor and Lecturer in Law at the Georg-August-University of Goettingen, Germany

Knieper Rolf, Professor em., University of Bremen/Germany, Arbitrator

Mehti Ilgar, Director, Ekvita consulting company

Rachkov Ilia, Adjunct Professor, Moscow State Institute of International Relations, International Law Department

Schäfer Jan, Partner, King & Spalding, Frankfurt am Main

Sulejmanovic Samira, Head of Unit for Bilateral Trade Relations at Ministry of Foreign Trade and Economic Relations, Bosnia and Herzegovina

Tietje Christian, Professor of Public Law, European Law and International Economic Law, Martin Luther University Halle-Wittenberg

Trunk-Fedorova Marina, Senior Research Fellow - ‎Kiel University, KEEL - Kiel Center for Eurasian Economic Law

Valderrama Carlos Jose, Foreign Counsel, Sidley Austin

Weber Joerg, Head Investment Policies Branch, UNCTAD

Organizers

UNCTAD

The Secretariat of the United Nations Conference
on Trade and Development

Ministry of Economy of the Republic of Azerbaijan

The Ministry of Economy
of the Republic of Azerbaijan

International Energy Charter

Energy Charter
Secretariat

TELC

Transnational Economic Law Research Center,
Martin Luther University Halle-Wittenberg

Event partnerships

Partnership opportunities for the INTERNATIONAL INVESTMENT POLICIES: THE WAY FORWARD are offered to law firms and other institutions dealing with investment issues. To indicate your interest in partnering with the conference please contact:


Mr. Hamed El-Kady
Email: Hamed.El.Kady@unctad.org

Venue

Baku Business Center

  • 44 Neftchilar ave
  • AZ1000, Baku
  • Website