As discussed recently in this forum, the Vienna Convention on the Law of Treaties is the prevailing mechanism for the interpretation of investment treaties (Interpreting Investment Treaties, Roberto Castro de Figueiredo, 21 Oct. 2014). The Vienna Convention, however, was adopted in May 1969. According to the ICSID Database of Bilateral Investment Treaties, there existed 77 BITs at that time. Today there are roughly three thousand investment agreements.
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Originally published on the Kluwer Arbitration Blog on February 3, 2015
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