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The Relevance of Public International Law in Arbitrations concerning International Economic Development Agreements

The Relevance of Public International Law in Arbitrations concerning International Economic... The purpose of this article is to appraise certain fundamental aspects of international economic development agreements (EnAS)1 in the light of recent developments and their relevance to public international law. They merit consideration afresh as they are very often confronted in international arbitrations which involve a State, a State enterprise or both and which raise various issues. A public international lawyer cannot afford to ignore the importance of understanding them in the real world while dealing with the arbitration of international disputes arising out of EDAS. I. THE NOTION AND Forms OF EDAS Economic development agreements are a very specific category of State contract. They are entered into between a State or a State-owned enterprise, on the one hand, and a foreign private entity, on the other. As far as the host State is concerned, they are considered to be an important vehicle for its economic development; hence, they are categorized as "economic development agreements". The term "economic development agreement" was first coined by a U.S. scholar2 who called it a functional one3 for agreements which are traditionally known as "concessions" or "economic concessions",4 the terms which are sometimes loosely used.' O'Connell describes an "economic concession" as: "[A] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of World Investment and Trade Brill

The Relevance of Public International Law in Arbitrations concerning International Economic Development Agreements

Journal of World Investment and Trade , Volume 6 (2): 34 – Jan 1, 2005

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Publisher
Brill
Copyright
Copyright © Koninklijke Brill NV, Leiden, The Netherlands
ISSN
1660-7112
eISSN
2211-9000
DOI
10.1163/221190005X00082
Publisher site
See Article on Publisher Site

Abstract

The purpose of this article is to appraise certain fundamental aspects of international economic development agreements (EnAS)1 in the light of recent developments and their relevance to public international law. They merit consideration afresh as they are very often confronted in international arbitrations which involve a State, a State enterprise or both and which raise various issues. A public international lawyer cannot afford to ignore the importance of understanding them in the real world while dealing with the arbitration of international disputes arising out of EDAS. I. THE NOTION AND Forms OF EDAS Economic development agreements are a very specific category of State contract. They are entered into between a State or a State-owned enterprise, on the one hand, and a foreign private entity, on the other. As far as the host State is concerned, they are considered to be an important vehicle for its economic development; hence, they are categorized as "economic development agreements". The term "economic development agreement" was first coined by a U.S. scholar2 who called it a functional one3 for agreements which are traditionally known as "concessions" or "economic concessions",4 the terms which are sometimes loosely used.' O'Connell describes an "economic concession" as: "[A]

Journal

Journal of World Investment and TradeBrill

Published: Jan 1, 2005

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