An attempt was made to terminate the introduction of one general text relating to the regulation of the FDI. In other words, the cancellation of the draft text pertaining to the Multilateral Agreement on Investment ("MAI") which was elaborated through the patronage of the Organization of Economic Cooperation ("OECD"). This abortion has given rise to several inspirational developments and confessions. Firstly, there is the existence of the acknowledgement of the paramount importance of foreign investment in global economics and the impact that the ceased draft text has on both economic growth and on the development of societies. Secondly, it demonstrates that many countries wish to promote general standards that would govern the FDI. In this respect, the MAI highlights some fundamental principles that serve as rudiments to every FDI operation. For instance, legal certainty is one major concern for investors. Many decisions on whether to invest or not are certainly subordinated to the assessment of the legal certainty that a given country can guarantee. Moreover, as was underlined in class the respect of this principle is beneficial to both parties especially in an investment operation. The benefited parties are the investor and the host country. The same rule holds good with respect to the principle of transparency.
[...] Instead, I believe in the promotion of guidelines relating to FDI. In other words, I believe that guidelines promoting universal principles that should apply to FDI operations such as the principle of legal certainty, of transparency or of fair and non-discriminatory treatment should be promoted under the auspices of international organizations. All other aspects should be left to the parties to a given FDI operation. Indeed, only these parties can determine and assess the factual and contextual circumstances and constraints that will be at the basis of their negotiations. [...]
[...] For this precise reason, each FDI operation can only be properly dealt with, from a legal point of view, in a bilateral treaty entered into between the actors involved. Only these actors can tailor their agreement to their needs and aspirations. For instance, as it was highlighted in the readings for our second class, the time factor is a major factor bringing complexity in FDI operations: the convergence of interests of the different parties involved is very strong at the beginning of an FDI operation but diminishes over time. [...]
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