Review of The Fair and Equitable Treatment (FET) Standard in International Investment Arbitration : Developing Countries in Context

FET claims are brought more frequently against economically less well-off States and how the value of the claims poses a challenge to their economies. While reasonable, minds can differ as to the cause of this phenomenon, that is, whether this is due to any particular targeting of the developing economies or because investors felt that they were subject to the violation of their treaty or contract rights. By drawing on other scholarly works, Chapter One sets the background of the book and explains how FET claims are brought more frequently against economically less well-off States and how the value of the claims poses a challenge to their economies. While reasonable, minds can differ as to the cause of this phenomenon, that is, whether this is due to any particular targeting of the developing economies or because investors felt that they were subject to the violation of their treaty or contract rights. This is all the more so because the investments of foreign investors from developed economies are concentrated in the global South and extend to investment in other developed economies. However, that does not detract from the author’s point that these claims pose particular challenges to developing countries. The book's main thesis is that the interpretation of the FET standard by arbitrators has given primacy to the protection of the interest of foreign investors over the economic interests of developing states