The Fair and Equitable Treatment in International Investment Law: A Matter of Interpretation

Abstract

This paper examines interpretation and application of the Fair and Equitable Treatment standard that regulates the most basic relation between host states and foreign investors. This paper studies the possibility of eliminating National Treatment and Most-Favoured-Nations standards and replacing them with the Fair and Equitable Treatment standard which has a wider scope and greater protection. The evolutionary character and flexibility of the Fair and Equitable Treatment have proven that this standard could go beyond the international minimum standard of treatment and may lead to another important change or transformation in the future.