Investment Agreements In International Law

International trade and investment agreements can have positive results, but they can also have negative consequences on global health and influence key determinants of health: poverty, inequality and the environment. This article proposes principles and strategies for the development of future international law to achieve health and public interest goals. In the past, several initiatives have been taken to implement a more multilateral approach to the creation of international investment rules. These essays include the Havana Charter of 1948, the draft UN Code of Conduct for Transnational Enterprises in the 1980s and the Multilateral Agreement on Investment (MAI) of the Organisation for Economic Co-operation and Development (OECD) in the 1990s. None of these initiatives were carried out due to differences of opinion between countries and, in the case of the MAI, due to strong opposition from civil society groups. Since then, further attempts have been made to advance the process of establishing a multilateral agreement within the WTO, but they have not been successful. Concerns have been expressed about the specific objectives that such a multilateral agreement must achieve, namely who would benefit from it and what the consequences of such a multilateral agreement would be on the broader public policies of countries, including those relating to environmental, social and other issues. Developing countries, in particular, may need a “political space” to develop their legal framework. B, for example in the area of economic or financial policy, and a major concern was that a multilateral investment agreement would reduce this political room for manoeuvre. As a result, current international investment regulations still do not provide for a single system based on a multilateral agreement. [17] In this regard, investment differs, for example, from trade and finance, in that the WTO aims to create a more uniform global trading system and the International Monetary Fund (IMF) plays a similar role in the international financial system.

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