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Seminar paper from the year 2014 in the subject Law - European and International Law, Intellectual Properties, grade: 1,0 (A), Diplomatic Academy of Vienna - School of International Studies (International Law and EU Law), course: External Economic Relations and Foreign Policy of the European Union, language: English, abstract: The aim of this seminar paper will be to firstly give an overview of the role of investment treaties in general, followed by a retrospective on the legal situation of the foreign direct investments (FDI) prior the Treaty of Lisbon (TOL) and an analysis of the current legal framework. Based on primary and secondary sources, the scope of the Union’s exclusive FDI competence of Art. 206/207 TFEU will be inquired as well as questions of legal implementation centred on the issue of financial responsibility within ISDS. By addressing the legal status of the Bilateral Investment Treaties (BIT) concluded by MS the legal basis is set to analyse the Austrian Nigerian Agreement for the Promotion and Protection of Investment which was authorized by the Commission (COM)and concluded by the Republic of Austria in 2013. In this context it will be interesting to assess the potential for the template of this agreement to become a kind of EU-third country model BIT to be concluded by the Union and to which extent the content of the agreement would be covered by the Unions FDI competence. With the entering into force of the TOL the European Union was massively changed in order to take on the challenges that lie ahead in the future. Among many of those institutional changes, the powers of the Union in the field of investments have been enlarged, with FDI now being part of the Common Commercial Policy (CCP). The motivation for such a an empowerment is manifold, reaching from FDI attraction and facilitation both important for European economic growth, the establishment of a level playing field for investors, to the beneficial effect of an increased negotiation leverage. Four years have passed since the new FDI competence has been established and on the face of it not much has been achieved. Only one piece of regulation addressing questions of legal implementation has been adopted. Exclusive EU Free Trade Agreements (FTA) containing comprehensive investment provisions are still to be concluded. Nevertheless a lot of preparatory work has been conducted by the COM and the European Parliament (EP). Of course the academic debate regarding the scope of the competence is vivid as well as the other obstacles regarding the legal implementation, mainly in the field of Investor to State Dispute Settlement (ISDS).
This timely book gives an overview of the main legal issues the EU faces in negotiating, concluding and implementing so-called ‘New Generation’ free trade agreements. Featuring contributions by international specialists on EU external action, this book demonstrates why these FTAs have become challenging for the EU, as well as analysing how the EU has dealt with its institutional constraints, and addresses contemporary debates and future challenges for EU institutions and Member States.
Sustainable Development in EU Foreign Investment Law offers a clear and convincing assessment of how the EU contributes to the ongoing debate on sustainable development integration in international investment agreements.
Despite the Lisbon Treaty reforming the EU Treaty provisions on external relations, it was argued at the time of the Treaty’s entry into force that ‘mixity was here to stay’. While this has indeed proven to be the case, the Court of Justice’s jurisprudence has nonetheless redrawn the contours within which mixity can thrive and for the first time has confirmed the existence of ‘facultative mixity’. In light of these significant post-Lisbon developments the volume aims to clarify the law and policy of facultative mixed agreements in the EU’s treaty practice and this not only from the perspective of EU (constitutional) law itself but also from the perspective of the EU Member States’ legal systems, that of the EU’s third country treaty partners and that of public international law itself.
Immediately after the rejection of the Constitutional Treaty in France and in the Netherlands, I was tempted not to comply with a contract according to which I was expected to write on the Eu- pean Constitution within a very close deadline. “What is the sense of it now?” I tried to argue. “I cannot be obliged by a contract wi- out an object”. I was wrong at that time and we would be equally wrong now, should we read the Irish vote on the Lisbon Treaty and the Lisbon Treaty itself as the dead end for European constitutionalism. Let us never forget that the text rejected in May 2005 was not the founding act of such constitutionalism. To the contrary, it was nothing more than a remarkable passage in a long history of constitutional dev- opments that have been occurring since the early years of the Eu- pean Community. All of us know that the Court of Justice spoke of a European constitutional order already in 1964, when the primacy of Community law was asserted in the areas conferred from the States to the European jurisdiction. We also know that in the pre- ous year the Court had read in the Treaty the justiciable right of any European citizen to challenge her own national State for omitted or distorted compliance with European rules.
The classic debate surrounding the prolific role of the European Union in defining spheres of competence and power relationships has long divided scholarly opinion. However, in recent years, the long-standing acquiescence to the broad powers of the Union has given way to the emerging perception of a competence problem in Europe. For a long period it was taken for granted that the European Community could act whenever its action was justified on the basis of the widely interpreted objectives of the Treaties. However this context has since changed. There is a widespread perception of a competence problem in Europe and the overabundance of provisions limiting the Union's competences is one of the most obvious marks left by the Lisbon Treaty. This book discusses the extent to which the parameters of power throughout the Union and its Member States have been recast by the recent implementation of the Lisbon Treaty and doctrines developed by the European Court of Justice. Comprised of contributions from a vast array of leading practitioners and academics in the field of EU Law, this volume assesses the debate surrounding the political identity of the European Union, and further illustrates the relevance of the Federal theory of sharing competences for the development of EU Law. Finally, the question of new potential limits to Union's competence is addressed. If anything, this broad reflection on the notion of competence in the EU law context is a way of opening up the question of the nature and contours of the political identity of the European Union.
The entry into force of the Lisbon Treaty entails sweeping changes with respect to foreign investment regulation. Most prominently, the Treaty on the Functioning of the European Union (TFEU) now contains in its Article 207 an explicit competence for the regulation of foreign direct investment as part of the Common Commercial Policy (CCP) chapter. With this new competence, the EU will become an important actor in the field of international investment politics and law. The new empowerment in the field of international investment law prompts a multitude of questions. This volume analyzes in depth the new “post-Lisbon situation” in the area of investment policy, provokes further discussion and offers new approaches.
Regulation of foreign investment is one of the most topical and controversial subjects in EU law and international investment law. This book examines the legal foundations upon which EU investment policy is based, addressing the legal, practical, and political concerns created by the establishment of a common investment policy.
International investment law is a subject of growing importance and complexity. Anyone interested in international investment law will appreciate the comprehensive, thoughtful and detailed exploration of this area which this distinguished group of German scholars have provided.