Transparency - A Sequel

UNCTAD Series on Issues in International Investment Agreements II

image of Transparency - A Sequel
Section I of the book contains an explanation of the concept of transparency as it is understood in the context of international investment agreements. Section II provides a review of current treaty and arbitral practice with respect to transparency issues. Section III analyses the interaction of transparency obligations with other related issues. The final section of this paper contains a series of policy options available to IIA negotiators and those involved in revising arbitral rules. In this final section, the paper also briefly discusses the implications of those options for host State development considerations so as to assist with negotiator decision-making on whether or not to include transparency provisions in IIAs, and, if so, which formulation to insert into new agreements.



Stocktaking and analysis

The nature of transparency issues in the context of international investment law has been changing since the publication of the first edition of this paper in the UNCTAD series (UNCTAD 2004). Although only a relatively short period has passed since that publication, new dimensions of the concept have emerged within the investment context, indicating significant shifts in the framing, substance, and direction of transparency issues within IIAs. Given these changes, this section embodies a stocktaking exercise that identifies the various approaches to transparency provisions within recent IIAs and analyses the implications of different formulations. The aim is to build on the work carried out in the first edition of this paper, focusing on an examination of IIAs concluded since 2004, identifying trends emerging in these recent IIAs and considering their sustainable development implications.


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