How Best to Protect the Right to Regulate: The WTO or ISA?

CIGI Papers No. 145 â&#x20AC;&#x201D; September 2017

How Best to Protect the Right to Regulate The WTO or ISA? Armand de Mestral and Lukas Vanhonnaeker

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How Best to Protect the Right to Regulate: The WTO or ISA?

Published on Sep 27, 2017

Centre for International Governance Innovation

International investment law has been much criticized as an undue restraint upon the regulatory sovereignty of states, although paradoxically, under the law of the WTO, the sanction upon the losing state of having to withdraw an offending measure weighs more heavily upon states than the duty to make financial compensation. This paper considers the elements of commonality between international trade law and international investment law, and asks whether the growing convergence of these two regimes should lead to convergence of dispute settlement procedures under the World Trade Organization’s Dispute Settlement Understanding and investor-state arbitration under bilateral investment agreements.

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