ИСТИНА

The fragmentation of international investment agreements (IIAs) is an urgent issue for reform because fragmentation results in divergent levels of protection and inconsistencies in applying and interpreting treaty provisions. This brief suggests that reducing fragmentation and enacting a multilateral or plurilateral investment agreement covering jurisdiction, substantive protection, and procedure, would increase investment and empower small and medium size enterprises (SMEs) to invest. Reforms must go beyond mere investment/investor protection to a more comprehensive set of objectives including sustainable development, dispute prevention, environmental protection, and protecting SME investments. A second recommendation relates to a new “institutionalization” by proposing that any new institution is headquartered in an emerging market outside traditional Investor-State Dispute Settlement (ISDS) centers. Authors: Professor Loukas Mistelis Queen Mary University of London (UK) Dr Faisal Alfadhel Saudi Shura Council, Saudi Arabia Professor Anton Asoskov Lomonosov Moscow State University, Russia Dr Crina Baltag Stockholm University (Sweden, EU) Professor James Claxton Rikkyo University, Japan Professor Mark Feldman Peking University School of Transnational Law (China) Dr Roberto Castro de Figueiredo St Mary’s University (UK) Dr. Kabir Duggal Columbia Law School (US) Professor Sergio Puig University of Arizona (USA) Giammarco Rao Queen Mary University of London (UK) Professor (Dean) Wenhua Shan Xi'an Jiaotong University (China) Professor Attila Tanzi University of Bologna (Italy)