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International Investment Law for the 21st CenturyEssays in Honour of Christoph Schreuer$
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Christina Binder, Ursula Kriebaum, August Reinisch, and Stephan Wittich

Print publication date: 2009

Print ISBN-13: 9780199571345

Published to Oxford Scholarship Online: September 2009

DOI: 10.1093/acprof:oso/9780199571345.001.0001

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INVESTMENT RULES IN REGIONAL INTEGRATION AGREEMENTS IN LATIN AMERICA: THE CASE OF THE ANDEAN PACT/ANDEAN COMMUNITY

INVESTMENT RULES IN REGIONAL INTEGRATION AGREEMENTS IN LATIN AMERICA: THE CASE OF THE ANDEAN PACT/ANDEAN COMMUNITY

Chapter:
(p.561) 30 INVESTMENT RULES IN REGIONAL INTEGRATION AGREEMENTS IN LATIN AMERICA: THE CASE OF THE ANDEAN PACT/ANDEAN COMMUNITY
Source:
International Investment Law for the 21st Century
Author(s):

Waldemar Hummer

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199571345.003.0030

This chapter focuses on the approach of the Andean States to the treatment of foreign investment capital, which underwent a fundamental change in the course of time. A common regime for the treatment of foreign investment which has now been in place for more than seventeen years was successively liberalized, and, although it is today characterized by a sufficient degree of openness, should be modified again and adjusted to the prevailing requirements of an ever more strongly globalized world economy. Despite several attempts, no separate comprehensive investment regime for the Andean region has been elaborated to date, so that the three different systems continue to exist side by side and compete with one another: (a) alongside the common rules of Decision 291, there are (b) national provisions which have not been harmonized yet, as well as (c) still applicable investment protection agreements (BITs) concluded by individual Andean States.

Keywords:   bilateral investment treaties, regional trade agreements, Latin American Free Trade Association, taxation, deregulation, foreign investment capital, Andean states

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