This course provides students with an in-depth understanding of the legal and treaty structures governing the liberalisation, protection, and facilitation of international investments. Through practical examples, the course enhances students' grasp of these laws and treaties and offers insights into the resolution of international investment disputes.

Students will engage with the political and social contexts of foreign direct investment (FDI) and capital investment activities. Special emphasis will be placed on evaluating the effectiveness and legitimacy of various investment regulations, including public and private law as well as hard and soft law.

The course's primary objectives include the following:

• First, the course explores the historical and theoretical foundations of international investment law, allowing students to understand the origins and development of this legal field. By examining key legal principles and milestones, students will gain a comprehensive background that frames contemporary issues in international investment.
• Next, students will delve into methodologies and principles for interpreting international law treaties. This includes an analysis of the Vienna Convention on the Law of Treaties and other relevant instruments, equipping students with the tools to critically analyse and interpret treaty provisions effectively.
• A crucial component of the course is distinguishing between obligations arising from treaty law and those from customary international law. By examining specific case studies and judicial decisions, students will learn to identify and differentiate these obligations, thereby enhancing their understanding of the dual sources of international investment law.
• The interaction between treaty-based obligations and customary international law will be scrutinised, highlighting how these legal sources reinforce and complement each other. This exploration will include discussions on the relationship between these legal norms in practice.
• Students will also analyse the conditions under which state conduct is attributed for the enforcement of investment treaty obligations. This involves a detailed study of state responsibility principles and their application in investment arbitration cases, providing a nuanced understanding of state liability in international investment law.
• The significance of domestic investment law and its interplay with international law is another focus area. Students will examine how domestic legal structures interact with international treaties and customary law to regulate investments, with case studies illustrating these complex relationships.
• Finally, the course highlights the rise of investment facilitation in recent treaties, such as the EU-Angola Sustainable Investment Facilitation Agreement (SIFA), the Brazilian Cooperation and Facilitation Investment Agreements, the groundbreaking WTO Investment Facilitation for Development Agreement (finalised in July 2023), and the EU-ESA Economic Partnership Agreement (EPA). This includes a detailed analysis of these agreements, their provisions, and their significance in promoting and managing international investment.

By the end of the course, students will be equipped with a thorough understanding of international investment law, its application, and its evolving nature in the international economic system.

Exam: This is an open-book exam. However, students are not allowed to access the internet during the exam. The use of Generative AI tools is not allowed.

Applicable to students admitted before Semester A 2022/23 and in Semester A 2024/25 & thereafter

Students must obtain a minimum mark of 40% in the final examination and an overall mark of 40% in order to pass the course.

Applicable to students admitted from Semester A 2022/23 to Summer Term 2024

Students must obtain a minimum mark of 50% in the final examination and an overall mark of 50% in order to pass the course.