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The ‘Africanization’ of International Investment Law: The Pan-African Investment Code and the Reform of the International Investment Regime

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Published in The Journal of World Investment & Trade. 2017, vol. 18, no. 3, p. 414-448
Abstract The Pan-African Investment Code (PAIC) is the first continent-wide African model investment treaty elaborated under the auspices of the African Union. The PAIC has been drafted from the perspective of developing and least-developed countries with a view to promote sustainable development. The PAIC contains a number of Africa-specific and innovative features, which presumably makes it today a unique legal instrument. Written in a time where the international investment community is still debating the future of international investment law, this article seeks to present and contextualize this first African model investment treaty. The article highlights the most innovative features of the PAIC, such as the reformulation of traditional investment treaty provisions and the introduction of direct obligations for investors.
Keywords Pan-African Investment CodeModel investment treatyAfrican UnionLeast-developed countriesSustainable developmentDirect obligations
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MBENGUE, Makane Moïse, SCHACHERER, Stefanie. The ‘Africanization’ of International Investment Law: The Pan-African Investment Code and the Reform of the International Investment Regime. In: The Journal of World Investment & Trade, 2017, vol. 18, n° 3, p. 414-448. doi: 10.1163/22119000-12340047 https://archive-ouverte.unige.ch/unige:107043

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Deposited on : 2018-08-15

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