Professional paper
Our Future is in The Eye of The Beholder an Initiative for a Global Investment Treaty
Sandra Simić
orcid.org/0000-0002-1509-3663
; HANFA-Croatian Financial Services Supervisory Agency, Zagreb, Hrvatska
Abstract
The existing international investment regime is not based on a multilateral international organization. This essay argues for the conclusion of an international, legally binding, global investment treaty (GIT), under the auspices of the United Nations (UN). Its wide mandate and equality of votes will ensure the appropriate context for creating a fairer international investment regime, balancing between a strong capitalist agenda and a contemporary outlook on social justice. Concluding a GIT under the auspices of the UN would primarily mean the systematic overseeing of its implementation across the globe and would provide the necessary context, resources and forum for discussion. It should emphasize the right to development, and consolidate and harmonise the main principles of international economic law, balancing them with other competing principles of international law, and moreover constitute an international investment court. Further, a GIT should promote investment and address the topic of corporate social responsibility related to the operations of multinational enterprises. The conclusion of a GIT would open new investment opportunities worldwide and provide an organised framework for development, with more legal certainty for investors. Public international law should offer new guidance
Keywords
global investment treaty; international economic law; international law; investment; development economics; poverty alleviation
Hrčak ID:
164174
URI
Publication date:
25.6.2016.
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