CYIL vol. 9 (2018)

CYIL 9 ȍ2018Ȏ WHAT CANWE EXPECT FROM POSTǧBREXIT UNITED KINGDOM’S INVESTMENT POLICY? Interestingly, the United Nations Conference on Trade and Development (UNCTAD) currently lists the UK having 106 BITs in force. 19 The UK negotiated BITs mainly with non-OECD-member countries, and among these countries with which it subsequently concluded a BIT are Russia, China, Mexico, Indonesia, or Singapore. In the 1990s, the UK also entered into BITs with several central and eastern European countries which later became EU Member states. 20 The UK has so far faced two unilateral terminations from its counterparts, namely South Africa in 2014 and India in 2016. Despite the unilateral terminations, the British investors can nevertheless rely on the relevant sunset clauses. The most recently signed BIT is with Colombia from 2010, which is predominantly based on the latest publicly available UK Model BIT from 2008. 21 The UK-Colombia BIT is the only UK of Angola – 4. 7. 2000; Antigua and Barbuda – 12. 6. 1987; Argentine Republic – 11. 12. 1990; Republic of Armenia – 27. 5. 1993; Republic of Azerbaijan – 4. 1. 1996; Kingdom of Bahrain – 30. 10. 1991; People’s Republic of Bangladesh – 19. 6. 1980; Barbados – 7. 4. 1993; Republic of Belarus – 1. 3. 1994; Belize 30. 4. 1982; Republic of Benin – 27. 11. 1987; Bolivia – 24. 5. 1988; Bosnia and Herzegovina – 2. 10. 2002; Federative Republic of Brazil – 19. 7. 1994; Republic of Burundi – 13. 9. 1990; Republic of Cameroon – 4. 6. 1982; Republic of Chile – 8. 1. 1996; People’s Republic of China – 15. 5. 1986; Republic of Colombia – 17. 3. 2010; Republic of the Congo – 25. 5. 1989; Republic of Costa Rica – 7. 9. 1982; Republic of Côte d’Ivoire – 8. 6. 1995; Republic of Cuba – 30. 1. 1995; Commonwealth of Dominica – 23. 1. 1987; Republic of Ecuador – 10. 5. 1994; Arab Republic of Egypt – 11. 6. 1975; Republic of El Salvador – 14. 10. 1999; Federal Democratic Republic of Ethiopia – 19. 11. 2009; Republic of the Gambia – 2. 7. 2002; Republic of Georgia – 15. 2. 1995; Republic of Ghana – 22. 3. 1989; Grenada – 25. 2. 1988; Republic of Guyana – 27. 10. 1989; Republic of Haiti – 18. 3. 1985; Republic of Honduras – 7. 12. 1993; Hong Kong Special Administrative Region of the People’s Republic of China – 30. 7. 1998; Republic of India – 14. 3. 1994; Republic of Indonesia – 27. 4. 1976; Jamaica – 20. 1. 1987; Hashemite Kingdom of Jordan – 10. 10. 1979; Republic of Kazakhstan- 23. 11. 1995; Republic of Kenya – 13. 9. 1999; Republic of Korea – 4. 3. 1976; State of Kuwait – 8. 10. 2009; Kyrgyz Republic – 8. 12. 1994; Lao People’s Democratic Republic – 1. 6. 1995; Lebanese Republic – 16. 2. 1999; Kingdom of Lesotho – 18. 2. 1981; Malaysia – 21. 5. 1981; Republic of Mauritius – 20. 5. 1986; United Mexican States – 12. 5. 2006; Republic of Moldova – 19. 3. 1996; Mongolia – 4. 10. 1991; Kingdom of Morocco – 30. 10. 1990; Republic of Mozambique – 18. 3. 2004; Nepal – 2. 3. 1993; Republic of Nicaragua – 4. 12. 1996; Federal Republic of Nigeria – 11. 12. 1990; Sultanate of Oman – 25. 11. 1995; Islamic Republic of Pakistan – 30. 11. 1994; Republic of Panama – 7. 10. 1983; Independent State of Papua New Guinea – 14. 5. 1981; Republic of Paraguay (as amended by 17 6. 1993 Exchange of Notes) – 4. 6. 1981; Republic of Peru – 4. 10. 1993; Republic of the Philippines – 3. 12. 1980; State of Qatar – 27. 10. 2009; Russian Federation – 6. 4. 1989; Saint Lucia – 18. 1. 1983; Republic of Senegal – 7. 5. 1980; Republic of Serbia (with Exchange of Notes) – 6. 11. 2002; Republic of Sierra Leone – 13. 1. 2000; Republic of Singapore – 22. 7. 1975; Republic of South Africa (as supplemented by the 20. 9. 1994 Protocol to the Agreement) – 25. 11. 1997; Democratic Socialist Republic of Sri Lanka – 13. 2. 1980; Kingdom of Swaziland – 5. 5. 1995; United Republic of Tanzania – 7. 1. 1994; Kingdom of Thailand – 28. 11. 1978; Kingdom of Tonga – 22. 10. 1997; Republic of Trinidad and Tobago – 23. 7. 1993; Republic of Tunisia – 14. 3. 1989; Republic of Turkey – 15. 3. 1991; Turkmenistan – 9. 2. 1995; Republic of Uganda – 24. 4. 1998; Ukraine – 10. 2. 1993; United Arab Emirates – 8. 12. 1992; Eastern Republic of Uruguay – 21. 10. 1991; Republic of Uzbekistan – 24. 11. 1993; Republic of Vanuatu – 22. 12. 2003; Bolivarian Republic of Venezuela – 15. 3. 1995; Socialist Republic of Vietnam – 1. 8. 2002; Yemen Arab Republic- 25. 2. 1982; Republic of Zambia – 27. 11. 2009; Republic of Zimbabwe – 1. 3. 1995. 19 BITs signed, but not in force, should include Angola – 4. 7. 2000; Brazil – 19. 7. 1994; Costa Rica – 7. 9. 1982; Ethiopia – 19. 11. 2009; Gambia – 2. 7. 2002; Kuwait – 8. 1. 2009; Libya – 23. 12. 2009, Qatar – 18. 9. 2009, Vanuatu – 22. 12. 2003; Zambia – 27. 11. 2009; Zimbabwe – 1. 3. 1995. UNCTAD, ‘Investment Policy Hub’ accessed 5 May 2018. 20 Bulgaria, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia and Slovenia. 21 For more details on the content of the current UK BITs see e.g. BROWN, Chester, SHEPPARD, Audley. ‘United Kingdom’ in: Chester Brown (ed.), Commentaries on Selected Model Investment Treaties (OUP 2013); Global Arbitration Review, ‘Investment Treaty Arbitration, England & Wales’ (19 September 2017) accessed 15 April 2018.

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