New Frontiers for EU Investment Policy External and Internal Dimensions

With the entry into force of the Treaty of Lisbon in 2009, the EU became a global actor in the field of foreign direct investment. Since then, the field of EU investment policy has been gradually shaped by numerous political changes, judgments and opinions delivered by the Court of Justice of the EU, as well as lively scholarly debate. Today, a clear division between the “internal” and “external” dimensions of EU investment policy has emerged, which constitutes the general topic of this book. Within these dimensions, additional – and sometimes contradictory – facets of the EU’s multi-layered approach to investment protection can be identified. On the one hand, EU investment policy is shifting toward a decentral approach when it comes to substantive standards of investment protection. On the other hand, the EU is following a multilateral approach with regard to procedural innovations in investor-State dispute settlement.

In this EYIEL Special Issue, leadingexperts in the field discuss the latest developments with regard to the above-mentioned dimensions and facets, which reflect new trends and challenges for EU investment policy. Among others, the book discusses the EU’s participation in the reform process for the international investment regime, the emergence of central planning and decentral implementation of EU investment policy, the feasibility of an intra-EU investment court, the protection and enforcement of investment standards under EU law, and the suitability of mediation as an alternative to intra-EU investment arbitration.

Prof. Marc Bungenberg is Director of the Europa-Institut and a professor of public law, European law, public international law and international economic law at Saarland University/Germany as well as permanent visiting professor at the University of Lausanne/Switzerland. His main fields of research are European law (Common Commercial Policy, public procurement and state aid law) and international economic law, particularly international investment and WTO law, including trade remedies.

Prof. August Reinisch has been a professor of international and European law at the University of Vienna since 1998. He currently serves as Head of the Section of International Law and International Relations and as Director of the LL.M. Program in International Law. He is a member of the International Law Commission, a member of the Institut de droit international, President of the Austrian Branch of the ILA and was President of the German Society of International Law. He has served as arbitrator in investment cases mostly under ICSID and UNCITRAL Rules.