* Marc Bungenberg is Professor for Public Law, European Law, Public International Law and International Economic Law, University of Siegen; Visiting Professor at the University of Lausanne; Academic Council at the International Investment Law Centre Cologne. ** August Reinisch is Professor of International and European Law at the University of Vienna, Austria, and Dean for International Relations of its Law School. With the entry into force of the Treaty of Lisbon 1 the eu has gained new powers in the area of international investment law and policy. The (new) eu competence, laid down in Article 207 tfeu as part of the Common Commercial Policy, 2 includes an external treaty-making power in the field of foreign direct (and possibly also portfolio) investment. The eu thus has the exclusive competence to negotiate and conclude stand-alone investment agreements – comparable to those international investment agreements ( IIA s) that were concluded under the old status quo, in other words before the entry into force of the Treaty of Lisbon on 1 December 2009, by the eu Member States – as well as free trade agreements ( FTA s) comprising also chapters on investment law. As of April 2014, the eu is
Journal of World Investment and Trade – Brill
Published: Jul 28, 2014
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