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Legal Arrangements for the Promotion and Protection of Foreign Investments Within the Framework of the EU Association Policy and European Neighbourhood Policy

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International Investment Law and EU Law

Part of the book series: European Yearbook of International Economic Law ((Spec. Issue))

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Abstract

The progressing liberalisation of global trade has been accompanied by a constant rise and increased importance of foreign investments in recent decades. In this respect, foreign investments, particularly foreign direct investments, constitute indisputably an integral part of the increasing cross-linking of markets and form in their entirety an important element as well as an indicator of the so-called economic globalisation. Moreover, foreign investments are often described as an “engine of global economic growth”. This may be agreed with, as it has been evident for quite some time that foreign investments, or the inflow of foreign investments, make a great contribution to a positive economic development of a country and a national economy. At the same time, they can be seen as an important instrument for the creation and increase of economic welfare, for the reduction of poverty and thus in many cases for political and social stabilisation.

The author would like to thank his assistants, in particular Lena Borth and Caroline Slusarek, for very helpful support

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Notes

  1. 1.

    See, for example, Tietje, Die Beilegung internationaler Investitionsstreitigkeiten, in: Marauhn (ed.), Streitbeilegung in den internationalen Wirtschaftsbeziehungen, 2005, p. 47 (49 et seq.); for the tremendous increase of the volume of foreign direct investments in recent years see Easson, Taxation of Foreign Direct Investment – An Introduction, 1999, pp. 4 et seq.; Krajewski, Wirtschaftsvölkerrecht, 2006, pp. 167 et seq.; Moosa, Foreign Direct Investment – Theory, Evidence and Practice, 2002, pp. 16 et seq.; Shikata, Legal Instruments of Foreign Investment: “The World Bank Guidelines”, 1993, pp. 1 et seq.; UNCTAD, Trends in International Investment Agreements: an Overview, 1999, pp. 9 et seq.

  2. 2.

    See, e.g., the report of the UNCTAD, Economic Development in Africa – Rethinking the Role of Foreign Direct Investment, 2006; Kehal, Foreign Investment in Developing Countries, 2004, pass.; Moran, Does Foreign Investment promote development?, 2005, pass.; Nieuwenhuys/Brus, Multilateral Regulation of Investment – Legal, Political and Economic Aspects, in: Nieuwenhuys/Brus (eds.), Multilateral Regulation of Investment, 2001, pp. 1 et seq.; Sauvant, Foreign direct investment and development, in: Sauvant/Weber (eds.), International Investment Agreements: Key Issues, 2005, Chap. 7.

  3. 3.

    See for the largely uncontested (positive) effects of such investments Herdegen, Internationales Wirtschaftsrecht, (7th ed.) 2008, § 21 para. 1; Tietje, Die Beilegung internationaler Investitionsstreitigkeiten, in: Marauhn (ed.), Streitbeilegung in den internationalen Wirtschaftsbeziehungen – Völkerrechtliche Einhegung ökonomischer Globalisierungsprozesse, 2005, p. 47 (49 et seq.).

  4. 4.

    For the EU as the legal successor of the EC see Art. 1(3)(3) TEU in the version of the Treaty of Lisbon amending the Treaty on European Union and the Treaty Establishing the European Community, signed at Lisbon, 13 December 2007, OJ 2007 C 306/1 et seq.; with further references see below fn. 19.

  5. 5.

    See the Commission’s Communication of 8 December 2005 to the Council and the European Parliament (EP) – “A stronger partnership between the European Union and Latin America”, COM (2005) 636 final; the Commission’s Communication of 16 June 2004 to the Council, the EP and the European Economic and Social Committee – “An EU-India Strategic Partnership”, COM (2004) 430 final; the Commission’s Communication of 24 October 2006 to the Council and the EP – “EU-China: Closer partners, growing responsibilities”, COM (2006) 631 final; the Agreement in Partnership and Cooperation establishing a partnership between the European Communities and their Member States, of the one part, and the Russian Federation, of the other part (OJ 1997 L 327/3 et seq.); the Commission’s Communication of 4 September 2001 to the Council – “Europe and Asia: A Strategic Framework for Enhanced Partnerships”, COM (2001) 469 final; the Commission’s Communication “A new partnership with South East Asia”, COM (2003) 399 final; also see http://ec.europa.eu/development/geographical/regionscountries/euafrica_en.cfm#partnership for the new “Africa-EU Strategic Partnership: A Joint Africa-EU Strategy”; additionally see in this context the Interim Partnership Agreement between the European Community, of the one part, and the Pacific States, of the other part (OJ 2009 L 272/2 et seq.).

  6. 6.

    For more on this see the booklet of the Secretariat General of the Council, European Union and Central Asia: Strategy for a New Partnership, October 2007 (available at http://www.consilium.europa.eu/uedocs/cms_data/librairie/PDF/EU_CtrlAsia_EN-RU.pdf); see also the “Joint Progress Report by the Council and the European Commission to the European Council on the implementation of the EU Central Asia Strategy” (available at http://ec.europa.eu/external_relations/central_asia/docs/progress_report_0608_en.pdf ); as well as European Community, Regional Strategy Paper for Assistance to Central Asia for the period 2007–2013 (available at http://ec.europa.eu/external_relations/central _asia/rsp/07_13_en.pdf).

  7. 7.

    OJ 1999 L 196/ 3 et seq.; hereinafter referred to as “PCA/Kazakhstan”.

  8. 8.

    OJ 1999 L 196/48 et seq.; hereinafter referred to as “PCA/Kyrgyz”.

  9. 9.

    OJ 1999 L 229/3 et seq.; hereinafter referred to as “PCA/Uzbekistan”.

  10. 10.

    OJ 2004 L 340/2 et seq.

  11. 11.

    To these varied aims see always Art. 1 of the three agreements mentioned above.

  12. 12.

    E.g. Art. 1 (dash 2) PCA/Kazakhstan (fn. 7 above); Art. 1 (dash 3) PCA/Kyrgyz (fn. 8 above); Art. 1 (dash 4) PCA/Uzbekistan (fn. 9 above).

  13. 13.

    See the preambles of PCA/Kazakhstan (fn. 7 above), of PCA/Kyrgyz (fn. 8 above) and of PCA/Uzbekistan (fn. 9 above), where it says: “[…] Convinced that this Agreement will create a new climate for economic relations between the Parties and in particular for the development of trade and investment, which are essential to economic restructuring and technological modernization […]”.

  14. 14.

    See, for example, the preamble of PCA/Kazakhstan (fn. 7 above), where it says: “[…] Conscious of the need to improve conditions affecting business and investment, and conditions in areas such as the establishment of companies, labour, provision of services and capital movements, and of the desirability of moving towards granting of national treatment for each others companies […]”; for very similar but shorter statements see the preambles of PCA/Kyrgyz (fn. 8 above) and of PCA/Uzbekistan (fn. 9 above).

  15. 15.

    See Art. 41(2) PCA/Kazakhstan (fn. 7 above), Art. 42(2) PCA/Kyrgyz (fn. 8 above) and Art. 40(2) PCA/Uzbekistan (fn. 9 above), where it is stated: “With regard to transactions on the capital account of balance of payments, from entry into force of this Agreement, the free movement of capital relating to direct investments made in companies formed in accordance with the laws of the host country and investments made in accordance with the provisions of Chap. II, and the liquidation or repatriation of these investments and of any profit stemming therefrom shall be ensured”.

  16. 16.

    Art. 41(2) PCA/Kazakhstan (fn. 7 above), Art. 47(2) PCA/Kyrgyz (fn. 8 above); Art. 46(2) PCA/Uzbekistan (fn. 9 above).

  17. 17.

    For these five single objectives (with rather similar formulations) see Art. 41(2) PCA/Kazakhstan (fn. 7 above), Art. 47(2) PCA/Kyrgyz (fn. 8 above) and Art. 46(2) PCA/Uzbekistan (fn. 9 above).

  18. 18.

    For more on these multilateral and bilateral dimensions of the EU Association Policy and ENP see Nowak, Multilaterale und bilaterale Elemente der EU-Assoziations-, Partnerschafts- und Nachbarschaftspolitik, EuR (2010) 6, p. 746 et seq.

  19. 19.

    See the Treaty of Lisbon (fn. 4 above) in conjunction with the consolidated versions of the Treaty on European Union and the Treaty on the Functioning of the European Union (OJ 2008 C115/13 et seq.). For more on the various reform potentials of the Treaty of Lisbon see the numerous articles, e.g. in Fastenrath/Nowak, Der Lissabonner Reformvertrag – Änderungsimpulse in einzelnen Rechts- und Politikbereichen, 2009; Hummer/Obwexer, Der Vertrag von Lissabon, 2009; Pernice, Der Vertrag von Lissabon: Reform der EU ohne Verfassung?, 2008; Schwarze/Hatje, Der Reformvertrag von Lissabon, EuR Beiheft 1, 2009; Weidenfeld, Lissabon in der Analyse – Der Reformvertrag der Europäischen Union, 2008; see also Fabbrini, Contesting the Lisbon Treaty: Structure and Implications of the Constitutional Division Within the European Union, EJLR 10 (2008) 4, pp. 457–476.; Harpaz/Herman, The Lisbon Reform Treaty: Internal and External Implications, EJLR 10 (2008) 4, pp. 431–436.; Hatje/Kindt, Der Vertrag von Lissabon – Europa endlich in guter Verfassung?, NJW (2008), pp. 1761–1768; Müller-Graff, Der Vertrag von Lissabon auf der Systemspur des Europäischen Primärrechts, Integration (2008), pp. 123 et seq.; Oppermann, Die Europäische Union von Lissabon, DVBl. (2008), pp. 473 et seq.; Pache/Rösch, Der Vertrag von Lissabon, NVwZ (2008), pp. 473–480; Streinz/Ohler/Herrmann, Der Vertrag von Lissabon zur Reform der EU, (3rd ed.) 2010, pp. 1 et seq.; Terhechte, Der Vertrag von Lissabon: Grundlegende Verfassungsurkunde der europäischen Rechtsgemeinschaft oder technischer Änderungsvertrag?, EuR (2008), pp. 143 et seq.

  20. 20.

    OJEC 1998 L 69/26 et seq.; came into force on 16 April 1998.

  21. 21.

    OJ 2008 L 289/3 et seq.; came into force on 15 April 2008.

  22. 22.

    See especially the Commission’s Communication of 12 May 2004 “European Neighbourhood Policy – Strategy Paper“, COM (2004), 373 final.

  23. 23.

    For the voluminous literature on the ENP see, for example, Balfour/Rotta, Beyond Enlargement – The European Neighbourhood Policy and its Tools, The International Spectator 40 (2005) 1, pp. 7 et seq.; Duta, European Neighbourhood Policy and Its Main Components, Romanian Journal of International Affairs 10 (2005), pp. 229 et seq.; Edwards, The Construction of Ambiguity and the Limits of Attraction: Europe and its Neighbourhood Policy, Journal of European Integration 30 (2008), pp. 45 et seq.; Hummer, Die Union und ihre Nachbarn: Nachbarschaftspolitik vor und nach dem Verfassungsvertrag, Integration (2005), pp. 233 et seq.; Kempe, Zwischen Anspruch und Wirklichkeit – Die Europäische Nachbarschaftspolitik, Osteuropa (2007), pp. 57 et seq.; Lippert, Erweiterungsfragen und Nachbarschaftspolitik der Europäischen Union, insbesondere die Türkeifrage und ihre Implikationen, in: Müller-Graff (ed.), Die Rolle der erweiterten Europäischen Union in der Welt, 2006, pp. 175 et seq.; Magen, The Shadow of Enlargement: Can the European Neighbourhood Policy Achieve Compliance, Columbia Journal of European Law (2006), pp. 383 et seq.; O’Donnell/Whitman, Das Phantom-Zuckerbrot – Die Konstruktionsfehler der ENP, Osteuropa (2007), pp. 95 et seq.; Parmentier, The reception of EU neighbourhood policy, in: Laïdi (ed.), EU Foreign Policy in a Globalized World – Normative power and social preferences, 2008, pp. 103 et seq.; Sasse, The European Neighbourhood Policy: Conditionality Revisited for the EU’s Eastern Neighbours, Europa-Asia Studies 60 (2008), pp. 295 et seq.; Smits, The Outsiders: The European Neighbourhood Policy, International Affairs 81 (2005), pp. 757 et seq.; Van Vooren, A case study of “soft law” in EU external relations: The European Neighbourhood Policy, ELRev. 34 (2009), pp. 696 et seq.

  24. 24.

    For more on the backgrounds and objectives of the ENP see the Commission’s Communication of 12 May 2004 “European Neighbourhood Policy – Strategy Paper”, COM (2004), 373 final; the Commission’s Communication of 5 December 2007 “A Strong European Neighbourhood Policy”, COM (2007) 774 final; see also B. Lippert, Teilhabe statt Mitgliedschaft? – Die EU und ihre Nachbarn im Osten, Osteuropa (2007), pp. 69 et seq.

  25. 25.

    See the Communication from the Commission of 20 May 2008 to the EP and the Council “Barcelona Process: Union for the Mediterranean”, COM (2008) 319 final; and Nowak, Multilaterale und bilaterale Elemente der EU-Assoziations-, Partnerschafts- und Nachbarschaftspolitik, EuR (2010) 6, p. (forthcoming).

  26. 26.

    See, in particular, Bretherton/Vogler, The European Union as a Global Actor, (2nd ed.) 2006, pp. 154 et seq.; Jünemann, Europas Mittelmeerpolitik im regionalen und globalen Wandel: Interessen und Zielkonflikte, in: Zippel (ed.), Die Mittelmeerpolitik der EU, 1999, pp. 29 et seq.; Martinez, European Union’s exportation of democratic norms – The Case of North Africa, in: Laïdi (ed.), EU Foreign Policy in a Globalized World – Normative power and social preferences, 2008, pp. 118 et seq.; Schlotter, Die Europäische Union als außenpolitischer Akteur?: Zur Kohärenz der EU-Mittelmeerpolitik und zur Rolle der Kommission, Integration (2005), pp. 316 et seq.; Pace, The Ugly duckling of Europe: The Mediterranean in the Foreign Policy of the European Union, Journal of European Area Studies 10 (2002), pp. 189 et seq.; Youngs, European Approaches to Security in the Mediterranean, Middle East Journal 57 (2003), pp. 414 et seq.

  27. 27.

    For more on this see Bicchi, “Our size fits all”: normative power Europe and the Mediterranean, JEPP 13 (2006), pp. 286 et seq.; Jünemann, Ein Raum des Friedens, der Stabilität und des gemeinsamen Wohlstands – Die Euro-Mediterrane Partnerschaft zwischen Anspruch und Wirklichkeit, in: Harders/Jünemann (eds.), Zehn Jahre Euro-Mediterrane Partnerschaft: Bilanz und Perspektiven, Sonderheft Orient 46 (2005) 3, pp. 360 et seq.; Tzifakis, EU’s region-building and boundary-drawing policies: the European approach to the Southern Mediterranean and the Western Balkans, Journal of Southern Europe and the Balkans 9 (2007), pp. 47 et seq.

  28. 28.

    For more on this, with further references, see Böttger, Im Osten nichts Neues? Ziele, Inhalte und erste Ergebnisse der Östlichen Partnerschaft, Integration (2009), pp. 372 et seq.; Nowak, Multilaterale und bilaterale Elemente der EU-Assoziations-, Partnerschafts- und Nachbarschaftspolitik, EuR (2010) 6, p. 746 et seq.; Tiede/Schirmer, Die Östliche Partnerschaft der Europäischen Union im Rahmen des Gemeinschaftsrechts, Osteuropa-Recht 55 (2009), pp. 184 et seq.; for the development and motives of this partnership see Pop, Balkan’s model to underpin EU’s “Eastern Partnership”, EUobserver (available at: http://euobserver.com/15/26766?print=1); see also Schäfer, The Eastern Partnership – “ENP plus” for Europe’s Eastern neighbours, C·A·Perspectives (2009) 4, pp. 1 et seq.

  29. 29.

    For more details regarding these two ENP dimensions see Nowak, Multilaterale und bilaterale Elemente der EU-Assoziations-, Partnerschafts- und Nachbarschaftspolitik, EuR (2010) 6, p. 746 et seq.

  30. 30.

    See, in particular, the fundamental Communication from the Commission of 26 May 1999 to the EP and the Council on the Stabilisation and Association process for South Eastern Europe, COM (1999) 235 final.

  31. 31.

    In more detail and with further references see Bartlett/Samardžija, The Reconstruction of South East Europe, the Stability Pact and the Role of the EU: an Overview, MOCT-Most 10 (2000) 2, pp. 245 et seq.; Bretherton/Vogler, The European Union as a Global Actor, (2nd ed.) 2006, pp. 144 et seq.; Busek, South Eastern Europe: On the Way to Political and Economic Integration within the EU, The Analyst – Central and Eastern European Review (2007) 4, pp. 5 et seq. (available at: http://www.ceeol.com); Calic, EU Enlargement and Common Foreign and Security Policy in the Western Balkans, Südosteuropa Mitteilungen (2007), pp. 12 et seq.; Cameron/Kintis, Southeastern Europe and the European Union, Journal of Southeast European and Black Sea Studies 1 (2001) 2, p. 94 (99 et seq.); Chandler, The EU’s promotion of democracy in the Balkans, in: Laïdi (ed.), EU Foreign Policy in a Globalized World – Normative power and social preferences, 2008, pp. 68 et seq.; Friis/Murphy, Turbo-charged negotiations: the EU and the Stability Pact for South Eastern Europe, JEPP (2000), pp. 767 et seq.; Hoffmeister, Die Beziehungen der Europäischen Union zu den Staaten des Westbalkans, in: Kadelbach (ed.), Die Außenbeziehungen der Europäischen Union, 2006, pp. 125 et seq.; Nowak, Multilaterale und bilaterale Elemente der EU-Assoziations-, Partnerschafts- und Nachbarschaftspolitik, EuR (2010) 6, p. (forthcoming); Stewart, EU Democracy Promotion in the Western Balkans, in: Jünemann/Knodt (eds.), Externe Demokratieförderung durch die Europäische Union/European External Democracy Promotion, 2007, pp. 231 et seq.

  32. 32.

    See Council Decision 2008/119/EC of 12 February 2008 on the principles, priorities and conditions contained in the Accession Partnership with Croatia and repealing Decision 2006/145/EC (OJ 2008 L 42/51 et seq.); and Council Decision 2008/212/EC of 18 February 2008 on the principles, priorities and conditions contained in the Accession Partnership with the former Yugoslav Republic of Macedonia and repealing Decision 2006/57/EC (OJ 2008 L 80/32 et seq.).

  33. 33.

    See Council Decision 2008/210/EC of 18 February 2008 on the principles, priorities and conditions contained in the European Partnership with Albania and repealing Decision 2006/54/EG (OJ 2008 L 80/1 et seq.); Council Decision 2008/211/EC of 18 February 2008 on the principles, priorities and conditions contained in the European Partnership with Bosnia and Herzegovina and repealing Decision 2006/55/EG (OJ 2008 L 80/18 et seq.); Council Decision 2008/213/EC of 18 February 2008 on the principles, priorities and conditions contained in the European Partnership with Serbia including Kosovo as defined by resolution 1244 of United Nations Security Council of 10 June 1999 and repealing Decision 2006/56/EG (OJ 2008 L 80/46 et seq.); and Council Decision 2007/49/EC of 22 January 2007 on the principles, priorities and conditions contained in the European Partnership with Montenegro (OJ 2007 L 20/16 et seq.).

  34. 34.

    OJ 2004 L 86/1 et seq.; amended by Council Regulation (EC) No 269/2006 (OJ 2006 L 47/1 et seq.).

  35. 35.

    See, in particular, the Communication from the Commission of 5 March 2008 to the EP and the Council “Western Balkans: Enhancing the European perspective”, COM (2008) 127 final; and Elbasani, EU enlargement in the Western Balkans: strategies of borrowing and inventing, Journal of Southern Europe and the Balkans 10 (2008) 3, pp. 293 et seq.; Priebe, Beitrittsperspektive und Verfassungsreformen in den Ländern des Westlichen Balkans, EuR (2008) 3, pp. 301 et seq.

  36. 36.

    Interim Agreement on trade and trade-related matters between the European Community, of the one part, and Bosnia and Herzegovina, of the other part (OJ 2008 L 233/6 et seq.), in conjunction with Council Decision 2008/474/EC of 16 June 2008 concerning the signing and conclusion of the Interim Agreement on trade and trade-related matters between the European Community, of the one part, and Bosnia and Herzegovina, of the other part (OJ 2008 L 233/5), in conjunction with Council Decision 2008/211/EC of 18 February 2008 on the principles, priorities and conditions contained in the European Partnership with Bosnia and Herzegovina and repealing Decision 2006/55/EC (OJ 2008 L 80/18 et seq.).

  37. 37.

    See, in particular, Council Regulation (EC) No 594/2008 of 16 June 2008 on certain procedures for applying the Stabilisation and Association Agreement between the European Communities and their Member States, of the one part, and Bosnia and Herzegovina, of the other part, and for applying the Interim Agreement on trade and trade-related matters between the European Community, of the one part, and Bosnia and Herzegovina, of the other part (OJ 2008 L 169/1 et seq.).

  38. 38.

    Interim Agreement on trade and trade-related matters between the European Community, of the one part, and the Republic of Montenegro, of the other part (OJ 2007 L 345/2 et seq.), in conjunction with Council Decision 2007/855/EC of 15 October 2007 concerning the signing and conclusion of the Interim Agreement on trade and trade-related matters between the European Community, of the one part, and the Republic of Montenegro, of the other part (OJ 2007 L 345/1).

  39. 39.

    See, in particular, Council Decision 2007/49/EC (fn. 33 above).

  40. 40.

    See Council Decision 2008/213/EC (fn. 33 above).

  41. 41.

    Council Regulation (EC) No 533/2004 of 22 March 2004 on the establishment of European Partnerships in the framework of the stabilisation and association process (OJ 2004 L 86/1 et seq.); amended by Council Regulation (EC) No 269/2006 (OJ 2006 L 47/7).

  42. 42.

    See Council Decision 2006/57/EC of 30 January 2006 on the principles, priorities and conditions contained in the European Partnership with the former Yugoslav Republic of Macedonia and repealing Decision 2004/518/EC (OJ 2006 L 35/57 et seq.) in conjunction with Council Decision 2008/212/EC (fn. 32 above).

  43. 43.

    Stabilisation and Association Agreement between the European Communities and their Member States, of the one part, and the former Yugoslav Republic of Macedonia, of the other part, OJ 2004 L 84/13 et seq. (hereinafter referred to as “SAA/Macedonia”), in conjunction with the Agreement in the form of an Exchange of Letters concerning the conclusion of the Stabilisation and Association Agreement between the European Communities and their Member States, of the one part, and the former Yugoslav Republic of Macedonia, of the other part (OJ 2004 L 84/3).

  44. 44.

    See the Council and Commission Decision of 23 February 2004 concerning the conclusion of the Stabilisation and Association Agreement between the European Communities and their Member States, of the one part, and the former Yugoslav Republic of Macedonia, of the other part (OJ 2004 L 84/1 et seq.).

  45. 45.

    Consolidated version of this treaty in OJ 2008 C 115/47 et seq.

  46. 46.

    See Council Decision 2008/119/EC of 12 February 2008 (fn. 32 above).

  47. 47.

    Stabilisation and Association Agreement between the European Communities and their Member States, of the one part, and the Republic of Croatia, of the one part, of the other part (OJ 2005 L 26/3 et seq.; hereinafter referred to as “SAA/Croatia”).

  48. 48.

    See Council and Commission Decision (2005/40/EC, Euratom) of 13 December 2004 concerning the conclusion of the Stabilisation and Association Agreement between the European Communities and their Member States, of the one part, and the Republic of Croatia, of the other part (OJ 2005 L 26/1 et seq.).

  49. 49.

    Stabilisation and Association Agreement between the European Communities and their Member States, of the one part, and the Republic of Albania, of the other part (OJ 2009 L 107/166 et seq.; hereinafter referred to as “SAA/Albania”).

  50. 50.

    Interim Agreement on trade and trade-related matters between the European Community, of the one part, and the Republic of Albania, of the other part (OJ 2006 L 239/2 et seq.) in conjunction with Council Decision 2006/580/EC of 12 June 2006 (OJ 2006 L 239/1).

  51. 51.

    See, in particular, Council Decision 2008/210/EC of 18 February 2008 (fn. 33 above).

  52. 52.

    See Council and Commission Decision of 26 February 2009 concerning the conclusion of the Stabilisation and Association Agreement between the European Communities and their Member States, of the one part, and the Republic of Albania, of the other part (OJ 2009 L 107/165).

  53. 53.

    The words printed in italics are missing in SAA/Macedonia (fn. 43 above).

  54. 54.

    Art. 2 SAA/Macedonia (fn. 43 above); Art. 2 SAA/Croatia (fn. 47 above); Art. 2 SAA/Albania (fn. 49 above).

  55. 55.

    See Art. 61(1) SAA/Macedonia (fn. 43 above); Art. 62(1) SAA/Croatia (fn. 47 above); Art. 63(1) SAA/Albania (fn. 49 above).

  56. 56.

    See Art. 59(1)(2) SAA/Macedonia (fn. 43 above); Art. 60(1) SAA/Croatia (fn. 47 above); Art. 61(1) SAA/Albania (fn. 49 above).

  57. 57.

    With different formulations and time periods see 59(2)(2) SAA/Macedonia (fn. 43 above), Art. 60(4) SAA/Croatia (fn. 47 above); Art. 61(2)(subpara. 3) SAA/Albania (fn. 49 above).

  58. 58.

    See Art. 117 SAA/Croatia (fn. 47 above); Art. 115 SAA/Macedonia (fn. 43 above); Art. 123 SAA/Albania (fn. 49 above).

  59. 59.

    For these agreements see “Introduction” above.

  60. 60.

    See Art. 117 SAA/Croatia (fn. 47 above); Art. 115 SAA/Macedonia (fn. 43 above); Art. 123 SAA/Albania (fn. 49 above); the supplements printed in italics are only to be found in SAA/Macedonia (fn. 43 above).

  61. 61.

    See the first sentences of Art. 111 SAA/Macedonia (fn. 43 above), Art. 113 SAA/Croatia (fn. 47 above) and Art. 119 SAA/Albania (fn. 49 above).

  62. 62.

    For the installation of the Councils, their tasks and compositions see Art. 108 et seq. SAA/Macedonia (fn. 43 above), Art. 110 et seq. SAA/Croatia (fn. 47 above) and Art. 116 et seq. SAA/Albania (fn. 49 above).

  63. 63.

    See the second sentences of Art. 111 SAA/Macedonia (fn. 43 above), Art. 113 SAA/Croatia (fn. 47 above) and Art. 119 SAA/Albania (fn. 49 above).

  64. 64.

    See Art. 84(1) SAA/Macedonia (fn. 43 above); Art. 85(1) SAA/Croatia (fn. 47 above).

  65. 65.

    For these single objectives see Art. 85(2) SAA/Croatia (fn. 47 above). Art. 84(2) SAA/Macedonia (fn. 43 above) deviates by listing a further (fourth) special objective of cooperation (“implementation of suitable arrangements for the transfer of capital”); no special objectives are mentioned in Art. 91 SAA/Albania (fn. 49 above).

  66. 66.

    For more on this see the paragraph above concerning the bilateral contractual relationships between the EU and its Member States, of the one part, and individual countries of the western Balkan, of the other part.

  67. 67.

    For more on this see Schöbener, Der Rechtsrahmen des Internationalen Investitionsrechts: ein Überblick zu den bilateralen Investitionsschutzabkommen, WiVerw (2009) 1, pp. 3 et seq.; Perkams/Secomb, Der Schutz deutscher Auslandsinvestitionen in Lateinamerika, WiVerw (2009) 1, pp. 31 et seq.

  68. 68.

    The relevant act of assent is published in BGBl 2000 II, p. 653; it came into force on 28 September 2000.

  69. 69.

    The relevant act of assent is published in BGBl 2000 II, p. 646; it came into force on 17 September 2000.

  70. 70.

    The relevant act of assent is published in BGBl 1994 II, p. 3720; it came into force on 18 August 1995.

  71. 71.

    SAA-EC/Albania (fn. 49 above).

  72. 72.

    With further references see fn. 19 above.

  73. 73.

    For the complementary relation between the bilateral Euro-Mediterranean agreements and the multilateral Union for the Mediterranean see Nowak, Multilaterale und bilaterale Elemente der EU-Assoziations-, Partnerschafts- und Nachbarschaftspolitik, EuR (2010) 6, p. 746 et seq.

  74. 74.

    See OJEC 1978 L 263/1 et seq. (Algeria); OJEC 1978 L 266/1 et seq. (Egypt); OJEC 1978 L 267/1 et seq. (Lebanon); OJEC 1978 L 268/1 et seq. (Jordan).

  75. 75.

    Cooperation Agreement between the European Economic Community and the Syrian Arab Republic, OJEC 1978 L 269/2 et seq.

  76. 76.

    Euro-Mediterranean Interim Association Agreement on trade and cooperation between the European Community, of the one part, and the Palestine Liberation Organization (PLO) for the benefit of the Palestinian Authority of the West Bank and the Gaza Strip, of the other part (OJEC 1997 L 187/3 et seq.).

  77. 77.

    Euro-Mediterranean Agreement establishing an association between the European Communities and their Member States, of the one part, and the Republic of Tunisia, of the other part (OJEC 1998 L 97/2 et seq.; hereinafter referred to as “EMA/Tunisia”), in conjunction with Decision 98/238/EC of the Council and the Commission of 26 January 1998 (OJEC 1998 L 97/1).

  78. 78.

    Euro-Mediterranean Agreement establishing an association between the European Communities and their Member States, of the one part, and the Kingdom of Morocco, of the other part (OJEC 2000 L 70/2 et seq.; hereinafter referred to as “EMA/Morroco”), in conjunction with Council and Commission Decision 2000/204/EC of 24 January 2000 (OJEC 2000 L 70/1; with amendments in OJEC 2000 L 138/31).

  79. 79.

    Euro-Mediterranean Agreement establishing an association between the European Communities and their Member States, of the one part, and the State of Israel, of the other part (OJEC 2000 L 147/3 et seq.; hereinafter referred to as “EMA/Israel”), in conjunction with Council and Commission Decision 2000/384/EC, ECSC, of 19 April 2000 (OJEC 2000 L 147/1 et seq.), in conjunction with the Protocol to the Euro-Mediterranean Agreement establishing an Association between the European Communities and their Member States, of the one part, and the State of Israel, of the other part, part, on a framework Agreement between the European Community and the State of Israel on the general principles governing the State of Israel’s participation in Community programmes (OJ 2008 L 129/40 et seq.).

  80. 80.

    Euro-Mediterranean Agreement establishing an Association between the European Communities and their Member States, of the one part, and the Hashemite Kingdom of Jordan, of the other part (OJEC 2002 L 129/3 et seq.; hereinafter referred to as “EMA/Jordan”), in conjunction with Council and Commission Decision 2002/357/EC, ECSC, of 26 March 2002 (OJEC 2002 L 129/1 et seq.).

  81. 81.

    Euro-Mediterranean Agreement establishing an Association between the European Communities and their Member States, of the one part, and the Arab Republic of Egypt, of the other part (OJ 2004 L 304/39 et seq.; hereinafter referred to as “EMA/Egypt”), in conjunction with Council Decision 2004/635/EC of 21 April 2004 (OJ 2004 L 304/38).

  82. 82.

    Euro-Mediterranean Agreement establishing an Association between the European Community and its Member States, of the one part, and the People's Democratic Republic of Algeria, of the other part (OJ 2005 L 265/2 et seq.; hereinafter referred to as “EMA/Algeria”), in conjunction with Council Decision 2005/690/EC of 18 July 2005 (OJ 2005 L 265/1).

  83. 83.

    Euro-Mediterranean Agreement establishing an Association between the European Community and its Member States, of the one part, and the Republic of Lebanon, of the other part (OJ 2006 L 143/2 et seq.; hereinafter referred to as “EMA/Lebanon”), in conjunction with Council Decision 2006/356/EC of 14 February 2006 (OJ 2006 L 143/1).

  84. 84.

    See Art. 1(2)(dash 1) EMA/Egypt (fn. 81 above); Art. 1(2)(dash 1) EMA/Israel (fn. 79 above); Art. 1(2)(dash 1) EMA/Jordan (fn. 80 above).

  85. 85.

    See Art. 1(2)(dash 1) EMA/Tunisia (fn. 77 above); Art. 1(2)(dash 1) EMA/Morocco (fn. 78 above); Art. 1(2)(dash 1) EMA/Algeria (fn. 82 above); Art. 1(2)(lit. a) EMA/Lebanon (fn. 83 above).

  86. 86.

    See Art. 1(2)(dash 2) EMA/Algeria (fn. 82 above); Art. 1(2)(dash 3) EMA/Tunisia (fn. 77 above); Art. 1(2)(dash 3) EMA/Morocco (fn. 78 above).

  87. 87.

    See Art. 1(2)(dash 2) EMA/Algeria (fn. 82 above).

  88. 88.

    See Art. 1(2)(dash 3) EMA/Jordan (fn. 80 above); Art. 1(2)(dash 3) EMA-EC/Egypt (fn. 81 above); very similar see Art. 1(2)(lit. c) EMA/Lebanon (fn. 83 above); Art. 1(2)(dash 3) EMA/Tunisia (fn. 77 above); Art. 1(2)(dash 3) EMA/Morocco (fn. 78 above).

  89. 89.

    See Art. 1(2)(dash 2) EMA/Israel (fn. 79 above); very similar, but shorter, see Art. 1(2)(dash 4) EMA/Jordan (fn. 80 above), where only the improvement of living and employment conditions as well as the enhancement of productivity and financial stability are mentioned.

  90. 90.

    See Art. 1(2)(dash 4) EMA/Egypt (fn. 81 above).

  91. 91.

    See Art. 1(2)(dash 2) EMA/Algeria (fn. 82 above); Art. 1(2)(dash 2) EMA/Egypt (fn. 81 above); Art. 1(2)(dash 2) EMA/Jordan (fn. 80 above); Art. 1(2)(lit. b) EMA/Lebanon (fn. 83 above); Art. 1(2)(dash 2) EMA/Tunisia (fn. 77 above); Art. 1(2)(dash 2) EMA/Morocco (fn. 78 above).

  92. 92.

    See Art. 1(2)(dash 3) EMA/Algeria (fn. 82 above).

  93. 93.

    See Art. 1(2)(dash 4) EMA/Algeria (fn. 82 above); similarly Art. 1(2)(dash 4) EMA/Tunisia (fn. 77 above) and Art. 1(2)(dash 4) EMA Morocco (fn. 78 above).

  94. 94.

    See Art. 1(2)(dash 5) EMA/Egypt (fn. 81 above); Art. 1(2)(dash 3) EMA/Israel (fn. 79 above); Art. 1(2)(dash 5) EMA/Jordan (fn. 80 above).

  95. 95.

    See Art. 1(2)(dash 5) EMA/Tunisia (fn. 77 above); Art. 1(2)(dash 5) EMA/Algeria (fn. 82 above); Art. 1(2)(dash 5) EMA/Morocco (fn. 78 above); including “monetary cooperation” see Art. 1(2)(lit. d) EMA/Lebanon (fn. 83 above).

  96. 96.

    See Art. 1(2)(dash 4) EMA/Israel (fn. 79 above); Art. 1(2)(dash 6) EMA/Jordan (fn. 80 above).

  97. 97.

    See Art. 1(2)(dash 6) EMA/Egypt (fn. 81 above); Art. 1(2)(lit. e) EMA/Lebanon (fn. 83 above).

  98. 98.

    See Art. 2 EMA/Algeria (fn. 82 above); Art. 2 EMA/Egypt (fn. 81 above); Art. 2 EMA/Israel (fn. 79 above); Art. 2 EMA/Jordan (fn. 80 above); Art. 2 EMA/Lebanon (fn. 83 above); very similar, but less substantial, see Art. 2 EMA/Tunisia (fn. 77 above) and Art. 2 EMA/Morocco (fn. 78 above).

  99. 99.

    See Arts. 3–5 EMA/Algeria (fn. 82 above); Arts. 3–5 EMA/Egypt (fn. 81 above); Arts. 3–5 EMA/Israel (fn. 79 above); Arts. 3–5 EMA/Jordan (fn. 80 above); Arts. 3–5 EMA/Lebanon (fn. 83 above); Arts. 3–5 EMA/Morocco (fn. 78 above); Arts. 3–5 EMA/Tunisia (fn. 77 above).

  100. 100.

    See Arts. 6–29 EMA/Algeria (fn. 82 above); Arts. 6–28 EMA/Egypt (fn. 81 above); Arts. 6–28 EMA/Israel (fn. 79 above); Arts. 6–29 EMA/Jordan (fn. 80 above); Arts. 6–29 EMA/Lebanon (fn. 83 above); Arts. 6–18 EMA/Morocco (fn. 78 above); Arts. 6–30 EMA/Tunisia (fn. 77 above).

  101. 101.

    See Arts. 30–37 EMA/Algeria (fn. 82 above).

  102. 102.

    See Arts. 29 and 30. EMA/Egypt (fn. 81 above); Arts. 29 and 30 EMA/Israel (fn. 79 above); Arts. 30–47 EMA/Jordan (fn. 80 above); Art. 30 EMA/Lebanon (fn. 83 above); Arts. 31 and 32 EMA/Morocco (fn. 78 above); Arts. 31 and 32 EMA/Tunisia (fn. 77 above).

  103. 103.

    See Arts. 38–46 EMA/Algeria (fn. 82 above); Arts. 31–38 EMA/Egypt (fn. 81 above); Arts. 31–39 EMA/Israel (fn. 79 above); Arts. 48–58 EMA/Jordan (fn. 80 above); Arts. 31–39 EMA/Lebanon (fn. 83 above); Arts. 33–41 EMA/Morocco (fn. 78 above); Arts. 33–41 EMA/Tunisia (fn. 77 above).

  104. 104.

    See Arts. 47–66 EMA/Algeria (fn. 82 above); Arts. 39–61 EMA/Egypt (fn. 81 above); Arts. 59–79 EMA/Jordan (fn. 80 above); Arts. 42–63 EMA/Morocco (fn. 78 above); Arts. 42–63 EMA/Tunisia (fn. 77 above); including the cooperation related to audiovisual issues see Arts. 58–66 EMA/Israel (fn. 79 above).

  105. 105.

    See Arts. 67–78 EMA/Algeria (fn. 82 above); Arts. 62–71 EMA/Egypt (fn. 81 above); Arts. 80–85 EMA/Jordan (fn. 80 above); Arts. 63–70 EMA/Lebanon (fn. 83 above); Arts. 64–74 EMA/Morocco (fn. 78 above); Arts. 64–74 EMA/Tunisia (fn. 77 above); similarly, but including technological cooperation, see Arts. 40–57 EMA/Israel (fn. 79 above).

  106. 106.

    See Arts. 40–62 EMA/Lebanon (fn. 83 above).

  107. 107.

    Arts. 79–81 EMA/Algeria (fn. 82 above); Arts. 72 and 73 EMA/Egypt (fn. 81 above); Arts. 86–88 EMA/Jordan (fn. 80 above); Arts. 71–73 EMA/Lebanon (fn. 83 above); Arts. 75–77 EMA/Morocco (fn. 78 above); Arts. 75–77 EMA/Tunisia (fn. 77 above).

  108. 108.

    See Arts. 82–91 EMA/Algeria (fn. 82 above).

  109. 109.

    See Arts. 92–110 EMA/Algeria (fn. 82 above); Arts. 74–92 EMA/Egypt (fn. 81 above); Arts. 67–85 EMA/Israel (fn. 79 above); Arts. 89–107 EMA/Jordan (fn. 80 above); Arts. 74–93 EMA/Lebanon (fn. 83 above); Arts. 78–96 EMA/Morocco (fn. 78 above); Arts. 78–96 EMA/Tunisia (fn. 77 above).

  110. 110.

    For the investment-related statements and regulations of the stabilisation and association agreements, see the paragraphs above concerning the bilateral agreements for the promotion and the protection of investments between the EU and Macedonia, Croatia and Albania, respectively).

  111. 111.

    See the preamble of EMA/Egypt (fn. 81 above).

  112. 112.

    In this sense see the penultimate sentences of the preambles of EMA/Israel (fn. 79 above) and of EMA/Jordan (fn. 80 above); very similar is the penultimate sentence of the preamble of EMA/Tunisia (fn. 77 above), where it says: “In the convincement, that the Agreement will accomplish a positive effect of expansion of their economic relations, trade and investments, which are indispensable for their economic transformation and technology modernization […]”, similarly see the penultimate sentence of the preamble of EMA/Lebanon (fn. 83 above).

  113. 113.

    In this sense see the penultimate sentences of the preamble of EMA/Algeria (fn. 82 above) and of EMA/Morocco (fn. 78 above).

  114. 114.

    Additionally, Art. 49(2) EMA/Jordan (fn. 80 above) clarifies that the “outflow of Jordanian capital to the Community, other than direct investment, shall be subject to the prevailing laws in Jordan”.

  115. 115.

    In this sense see Art. 33(2) EMA/Lebanon (fn. 83 above).

  116. 116.

    See Art. 34(1) EMA/Tunisia (fn. 77 above); Art. 32(1) EMA/Egypt (fn. 81 above); similarly Art. 39(1) EMA/Algeria (fn. 82 above) and Art. 34(1) EMA/Morocco (fn. 78 above).

  117. 117.

    See, with further references, the paragraphs above concerning the bilateral agreements for the promotion and the protection of investments between the EU and Macedonia, Croatia and Albania, respectively.

  118. 118.

    See, with further references, the paragraphs above concerning the bilateral agreements for the promotion and the protection of investments between the EU and Macedonia, Croatia and Albania, respectively.

  119. 119.

    See Art. 86(1) EM/Tunisia (fn. 77 above); Art. 86(1) EMA/Morocco (fn. 78 above); Art. 100(1) EMA/Algeria (fn. 82 above); Art. 82(1) EMA/Egypt (fn. 81 above); Art. 75(1) EMA/Israel (fn. 79 above); Art. 97(1) EMA/Jordan (fn. 80 above); Art. 82(1) EMA/Lebanon (fn. 83 above).

  120. 120.

    For the installation of these councils, their tasks and compositions see Art. 78 et seq. EMA/Tunisia (fn. 77 above); Art. 78 et seq. EMA/Morocco (fn. 78 above); Art. 92 et seq. EMA/Algeria (fn. 82 above), Art. 74 et seq. EMA/Egypt (fn. 81 above); Art. 67 et seq. EMA/Israel (fn. 79 above); Art. 89 et seq. EMA/Jordan (fn. 80 above); Art. 74 et seq. EMA/Lebanon (fn. 83 above).

  121. 121.

    See Art. 86(2) EMA/Tunisia (fn. 77 above); Art. 86(2) EMA/Morocco (fn. 78 above); Art. 100(2) EMA/Algeria (fn. 82 above); Art. 82(2) EMA/Egypt (fn. 81 above); Art. 75(2) EMA/Israel (fn. 79 above); Art. 97(2) EMA/Jordan (fn. 80 above); Art. 82(2) EMA/Lebanon (fn. 83 above).

  122. 122.

    See Art. 50 EMA/Tunisia (fn. 77 above); Art. 50 EMA/Morocco (fn. 78 above); Art. 54 EMA/Algeria (fn. 82 above); Art. 47 EMA/Lebanon (fn. 83 above).

  123. 123.

    See Art. 46 EMA/Egypt (fn. 81 above) and Art. 67 EMA/Jordan (fn. 80 above).

  124. 124.

    For these Agreements see, with further references, “Introduction” above.

  125. 125.

    See above the paragraphs above concerning the bilateral contractual agreements for the promotion and the protection of investments between the EU and the associated countries of the western Balkan.

  126. 126.

    See Art. 54 lit. a) EMA/Algeria (fn. 82 above); Art. 50 lit. a) EMA/Tunisia (fn. 77 above); Art. 50 lit. a) EMA/Morocco (fn. 78 above).

  127. 127.

    See Art. 50 lit. b) EMA/Tunisia (fn. 77 above); Art. 50 lit. b) EMA/Morocco (fn. 78 above); Art. 54 lit. b) EMA/Algeria (fn. 82 above).

  128. 128.

    See Art. 54 lit. c) EMA/Algeria (fn. 82 above).

  129. 129.

    In more detail see Schöbener, Der Rechtsrahmen des Internationalen Investitionsrechts: ein Überblick zu den bilateralen Investitionsschutzabkommen, WiVerw (2009) 1, pp. 3 et seq.

  130. 130.

    The relevant act of assent is published in BGBl 1965 II, p. 1377; it came into force on 6 February 1966.

  131. 131.

    The relevant act of assent is published in BGBl 2004 II, p. 333; it came into force on 12 April 2008.

  132. 132.

    The relevant act of assent is published in BGBl 1978 II, p. 209; signed on 24 June 1976.

  133. 133.

    The relevant act of assent is published in BGBl 1975 II, p. 1254; it came into force on 10 October 1997; for the new contract – signed on 13 November 2007, but not yet in effect – see BGBl. 2009 II, 469.

  134. 134.

    The relevant act of assent is published in BGBl 1977 II, p. 1145; it came into force on 22 July 1978; for the new contract – signed on 16 June 2005, but not yet in effect – see BGBl. 2007 II, 94.

  135. 135.

    The relevant act of assent is published in BGBl 2002 II, p. 268; it came into force on 30 May 2002.

  136. 136.

    The relevant act of assent is published in BGBl 1998 II, p. 1439; it came into force on 25 March 1999.

  137. 137.

    With further references to this Eastern Partnership see fn. 28 above.

  138. 138.

    Partnership and Cooperation Agreement establishing a partnership between the European Communities and their Member States, of the one part, and Ukraine, of the other part (OJEC 1998 L 49/3 et seq.; hereinafter referred to as “PCA/Ukraine”).

  139. 139.

    Partnership and Cooperation Agreement establishing a partnership between the European Communities and their Member States, of the one part, and the Republic of Moldova, of the other part (OJEC 1998 L 181/3 et seq.; hereinafter referred to as “PCA/Moldavia”).

  140. 140.

    Partnership and Cooperation Agreement establishing a partnership between the European Communities and their Member States, of the one part, and Georgia, of the other part (OJEC 1999 L 205/3 et seq.; hereinafter referred to as “PCA/Georgia”).

  141. 141.

    Partnership and Cooperation Agreement establishing a partnership between the European Communities and their Member States, of the one part, and the Republic of Armenia, of the other part (OJEC 1999 L 239/3 et seq.; hereinafter referred to as “PCA/Armenia”).

  142. 142.

    Partnership and Cooperation Agreement establishing a partnership between the European Communities and their Member States, of the one part, and the Republic of Azerbaijan, of the other part (OJEC 1999 L 246/3 et seq.; hereinafter referred to as “PCA/Azerbaijan”).

  143. 143.

    See Art. 1 (dash 1) PCA/Ukraine (fn. 138 above); Art. 1 (dash 1) PCA/Moldavia (fn. 139 above); Art. 1 (dash 1) APZ/Georgia (fn. 140 above); Art. 1 (dash 1) PCA/Armenia (fn. 141 above); Art. 1 (dash 1) PCA/Azerbaijan (fn. 142 above).

  144. 144.

    See Art. 1 (dash 3) PCA/Georgia (fn. 140 above); Art. 1 (dash 2) PCA/Moldavia (fn. 139 above); Art. 1 (dash 3) PCA/Armenia (fn. 141 above); Art. 1 (dash 3) PCA/Azerbaijan (fn. 142 above); similarly, but only talking about “sustainable development” see Art. 1 (dash 2) PCA/Ukraine (fn. 140 above).

  145. 145.

    See Art. 1 (dash 4) PCA/Armenia (fn. 141 above); Art. 1 (dash 4) PCA/Azerbaijan (fn. 142 above); Art. 1 (dash 4) PCA/Georgia (fn. 140 above); similarly, but without “civil scientific and technological cooperation”, see Art. 1 (dash 3) PCA/Moldavia (fn. 139 above); also very similar, but without “legislative cooperation”, see Art. 1 (dash 3) PCA/Ukraine (fn. 138 above).

  146. 146.

    See Art. 1 (dash 4) PCA/Ukraine (fn. 138 above); Art. 1 (dash 4) PCA/Moldavia (fn. 139 above); Art. 1 (dash 2) PCA/Georgia (fn. 140 above); Art. 1 (dash 2) PCA/Armenia (fn. 141 above); Art. 1 (dash 2) PCA/Azerbaijan (fn. 142 above).

  147. 147.

    Insofar as provided for in Art. 2 of the partnership and cooperation agreements concerning Moldavia, Georgia, Armenia and Azerbaijan; in Art. 2 PCA/Ukraine (fn. 138 above) the “principles of international law” are missing.

  148. 148.

    See Arts. 6–9 PCA/Ukraine (fn. 139 above); Arts. 6–9 PCA/Moldavia (fn. 139 above); Arts. 5–8 PCA/Georgia (fn. 140 above); Arts. 5–8 PCA/Armenia (fn. 141 above); Arts. 5–8 PCA/Azerbaijan (fn. 142 above).

  149. 149.

    See Arts. 10–23 PCA/Ukraine (fn. 138 above); Arts. 10–22 PCA/Moldavia (fn. 139 above); Arts. 9–19 PCA/Georgia (fn. 140 above); Arts. 9–19 PCA/Armenia (fn. 141 above); Arts. 9–19 PCA/Azerbaijan (fn. 142 above).

  150. 150.

    See Arts. 24–47 PCA/Ukraine (fn. 138 above); Arts. 23–46 PCA/Moldavia (fn. 139 above); Arts. 20–40 PCA/Georgia (fn. 140 above); Arts. 20–40 PCA/Armenia (fn. 141 above); Arts. 20–40 PCA/Azerbaijan (fn. 142 above).

  151. 151.

    See Art. 48 PCA/Ukraine (fn. 138 above); Art. 47 PCA/Moldavia (fn. 139 above); Arts. 41 and 42 PCA/Georgia (fn. 140 above); Art. 41 PCA/Armenia (fn. 141 above); Art. 41 PCA/Azerbaijan (fn. 142 above).

  152. 152.

    Arts. 49–51 PCA/Ukraine (fn. 138 above); Arts. 48–50 PCA/Moldavia (fn. 139 above); aspects of competition are neither mentioned in Arts. 42 and 43 PCA/Armenia (fn. 141 above) nor in Arts. 42 and 43 PCA/Azerbaijan (fn. 142 above).

  153. 153.

    See Arts. 43 and 44 PCA/Georgia (fn. 140 above).

  154. 154.

    See Arts. 52–84 PCA/Ukraine (fn. 138 above); Arts. 51–81 PCA/Moldavia (fn. 139 above), Arts. 45–80 PCA/Georgia (fn. 140 above); Arts. 44–77 PCA/Armenia (fn. 141 above); Arts. 44–80 PCA/Azerbaijan (fn. 142 above).

  155. 155.

    See Arts. 85–109 PCA/Ukraine (fn. 138 above); Arts. 82–106 PCA/Moldavia (fn. 139 above); Arts. 81–105 PCA/Georgia (fn. 140 above); Arts. 78–102 PCA/Armenia (fn. 141 above); Arts. 81–105 PCA/Azerbaijan (fn. 142 above).

  156. 156.

    See Arts. 71–75 PCA/Georgia (fn. 140 above); Arts. 68–72 PCA/Armenia (fn. 141 above); Arts. 71–75 PCA/Azerbaijan (fn. 142 above).

  157. 157.

    For these agreements see, with further references, the paragraphs above concerning the bilateral arrangements for the promotion and the protection of investments between the EU and the associated countries of the western Balkans.

  158. 158.

    See Art. 93(1) PCA/Ukraine (fn. 138 above); Art. 90(1) PCA/Moldavia (fn. 139 above); Art. 89(1) PCA/Georgia (fn. 140 above); Art. 86(1) PCA/Armenia (fn. 141 above); Art. 89(1) PCA/Azerbaijan (fn. 142 above).

  159. 159.

    See Art. 96(1) PCA/Ukraine (fn. 138 above); Art. 93(1) PCA/Moldavia (fn. 139 above); Art. 92(1) PCA/Georgia (fn. 140 above); Art. 89(1) PCA/Armenia (fn. 141 above); Art. 92(1) PCA/Azerbaijan (fn. 142 above).

  160. 160.

    For the installation of these councils, their tasks and compositions see Art. 85 et seq. PCA/Ukraine (fn. 138 above); Art. 82 et seq. PCA/Moldavia (fn. 139 above); Art. 81 et seq. PCA/Georgia (fn. 140 above); Art. 78 et seq. PCA/Armenia (fn. 141 above); Art. 81 et seq. PCA/Azerbaijan (fn. 142 above).

  161. 161.

    See Art. 96(2) PCA/Ukraine (fn. 138 above); Art. 93(2) PCA/Moldavia (fn. 139 above); Art. 92(2) PCA/Georgia (fn. 140 above); Art. 89(2) PCA/Armenia (fn. 141 above); Art. 92(2) PCA/Azerbaijan (fn. 142 above).

  162. 162.

    See the preambles of PCA/Georgia (fn. 140 above), PCA/Armenia (fn. 141 above) and PCA/Azerbaijan (fn. 142 above).

  163. 163.

    See the preambles of PCA/Ukraine (fn. 138 above), PCA/Moldavia (fn. 139 above), PCA/Georgia (fn. 140 above), PCA/Armenia (fn. 141 above) and PCA/Azerbaijan (fn. 142 above).

  164. 164.

    See the preambles of PCA/Ukraine (fn. 138 above), PCA/Moldavia (fn. 139 above), PCA/Georgia (fn. 140 above), PCA/Armenia (fn. 141 above) and of PCA/Azerbaijan (fn. 142 above).

  165. 165.

    See Art. 41(1) PCA/Ukraine (fn. 138 above); Art. 40(1) PCA/Moldavia (fn. 139 above); Art. 34(1) PCA/Georgia (fn. 140 above); Art. 34(1) PCA/Armenia (fn. 141 above); Art. 34(1) PCA/Azerbaijan (fn. 142 above).

  166. 166.

    See Art. 48(2) PCA/Ukraine (fn. 138 above); Art. 47(2) PCA/Moldavia (fn. 139 above); Art. 41(2) PCA/Georgia (fn. 140 above); Art. 41(2) APZ/Armenia (fn. 141 above); Art. 41(2) PCA/Azerbaijan (fn. 142 above).

  167. 167.

    See Art. 93(1) PCA/Ukraine (fn. 138 above); Art. 90(1) PCA/Moldavia (fn. 139 above); Art. 89(1) PCA/Georgia (fn. 140 above); Art. 86(1) PCA/Armenia (fn. 141 above); Art. 89(1) PCA/Azerbaijan (fn. 142 above).

  168. 168.

    For these agreements see, with further references, “Introduction” above.

  169. 169.

    For these agreements see, with further references, the paragraphs above concerning the bilateral arrangements for the promotion and the protection of investments between the EU and the associated countries of the western Balkans.

  170. 170.

    See Art. 93(1) PCA/Ukraine (fn. 138 above); Art. 90(1) PCA/Moldavia (fn. 139 above); Art. 89(1) PCA/Georgia (fn. 140 above); Art. 86(1) PCA/Armenia (fn. 141 above); Art. 89(1) PCA/Azerbaijan (fn. 142 above).

  171. 171.

    See Art. 96(1) PCA/Ukraine (fn. 138 above); Art. 93(1) PCA/Moldavia (fn. 139 above); Art. 92(1) PCA/Georgia (fn. 140 above); Art. 89(1) PCA/Armenia (fn. 141 above); Art. 92(1) PCA/Azerbaijan (fn. 142 above).

  172. 172.

    For the installation of these Councils, their tasks and compositions see Art. 85 et seq. PCA/Ukraine (fn. 138 above); Art. 82 et seq. PCA/Moldavia (fn. 139 above); Art. 81 et seq. PCA/Georgia (fn. 140 above); Art. 78 et seq. PCA/Armenia (fn. 141 above); Art. 81 et seq. PCA/Azerbaijan (fn. 142 above).

  173. 173.

    See Art. 96(2) PCA/Ukraine (fn. 138 above); Art. 93(2) PCA/Moldavia (fn. 139 above); Art. 92(2) PCA/Georgia (fn. 140 above); Art. 89(2) PCA/Armenia (fn. 141 above); Art. 92(2) PCA/Azerbaijan (fn. 142 above).

  174. 174.

    See Art. 54(1) PCA/Ukraine (fn. 138 above); Art. 53(1) PCA/Moldavia (fn. 139 above); Art. 49(1) PCA/Georgia (fn. 140 above); Art. 47(1) PCA/Armenia (fn. 141 above); Art. 48(1) PCA/Azerbaijan (fn. 142 above).

  175. 175.

    For these agreements see, with further references, “Introduction” above.

  176. 176.

    For these agreements see, with further references, the paragraphs above concerning the bilateral arrangements for the promotion and the protection of investments between the EU and the associated countries of the western Balkans.

  177. 177.

    For these agreements see, with further references, the paragraphs above concerning the bilateral arrangements for the promotion and the protection of investments between the EU and the associated countries of the western Balkans.

  178. 178.

    See Art. 54(1) PCA/Ukraine (fn. 138 above); Art. 53(1) PCA/Moldavia (fn. 139 above); Art. 49(1) PCA/Georgia (fn. 140 above); Art. 47(1) PCA/Armenia (fn. 141 above); Art. 48(1) PCA/Azerbaijan (fn. 142 above).

  179. 179.

    See Art. 54(2) (dash 1) PCA/Ukraine (fn. 138 above); Art. 53(2) (dash 1) PCA/Moldavia (fn. 139 above); Art. 49(2) (dash 1) PCA/Georgia (fn. 140 above); Art. 47(2) (dash 1) PCA/Armenia (fn. 141 above); Art. 48(2) (dash 1) PCA/Azerbaijan (fn. 142 above).

  180. 180.

    See Art. 54(2) (dash 2) PCA/Ukraine (fn. 138 above); Art. 53(2) (dash 2) PCA/Moldavia (fn. 139 above); Art. 49(2) (dash 2) PCA/Georgia (fn. 140 above); Art. 47(2) (dash 2) PCA/Armenia (fn. 141 above); Art. 48(2) (dash 2) PCA/ Azerbaijan (fn. 142 above).

  181. 181.

    See Art. 54(2) (dash 3) PCA/Ukraine (fn. 138 above); Art. 53(2) (dash 3) PCA/Moldavia (fn. 139 above); Art. 49(2) (dash 3) PCA/Georgia (fn. 140 above); Art. 47(2) (dash 3) PCA/Armenia (fn. 141 above); Art. 48(2) (dash 3) PCA/Azerbaijan (fn. 142 above).

  182. 182.

    See Art. 54(2) (dash 4) PCA/Ukraine (fn. 138 above); Art. 53(2) (dash 4) PCA/Moldavia (fn. 139 above); Art. 49(2) (dash 4) PCA/Georgia (fn. 140 above); Art. 47(2) (dash 4) PCA/Armenia (fn. 141 above); Art. 48(2) (dash 4) PCA/Azerbaijan (fn. 142 above).

  183. 183.

    See Art. 54(2) (dash 5) PCA/Ukraine (fn. 138 above); Art. 53(2) (dash 5) PCA/Moldavia (fn. 139 above); Art. 49(2) (dash 5) PCA/Georgia (fn. 140 above); Art. 47(2) (dash 5) PCA/Armenia (fn. 141 above); Art. 48(2) (dash 5) PCA/Azerbaijan (fn. 142 above).

  184. 184.

    For more on this see Schöbener, Der Rechtsrahmen des Internationalen Investitionsrechts: ein Überblick zu den bilateralen Investitionsschutzabkommen, WiVerw (2009) 1, pp. 3 et seq.

  185. 185.

    The relevant act of assent is published in BGBl 1996 II, p. 75; it came into force on 29 June 1996.

  186. 186.

    The relevant act of assent is published in BGBl 1997 II, p. 2072; it came into force on 15 June 2006; for relevant amendments see the protocol published in BGBl. 2005 II, p. 523, in force since 15 June 2006.

  187. 187.

    The relevant act of assent is published in BGBl 1998 II, p. 576; it came into force on 27 September 1998.

  188. 188.

    The relevant act of assent is published in BGBl 2000 II, p. 46; it came into force on 4 August 2000.

  189. 189.

    The relevant act of assent is published in BGBl 1998 II, p. 567; it came into force on 29 July 1998.

  190. 190.

    In more detail see the paragraph above concerning bilateral contractual relationships between the EU and its Member States, of the one part, and individual countries of the western Balkans, of the other part.

  191. 191.

    In more detail see the paragraph above concerning investment promotion and investment protection within the scope of the aforementioned association and stabilisation agreements.

  192. 192.

    See Art. 84(2) SAA/Macedonia (fn. 43 above) and Art. 85(2) SAA/Croatia (fn. 46 above).

  193. 193.

    In more detail see the paragraph above concerning investment promotion and investment protection within the scope of the aforementioned association and stabilisation agreements.

  194. 194.

    In more detail see the paragraph above concerning bilateral contractual relationships between the EU and several neighbouring states within the framework of the southern ENP dimension.

  195. 195.

    In more detail see the paragraph above concerning investment promotion and investment protection within the scope of the Euro-Mediterranean agreements.

  196. 196.

    See Art. 50 lit. b) EMA/Tunisia (fn. 77 above); Art. 50 lit. b) EMA/Morocco (fn. 78 above); Art. 54 lit. b) EMA/Algeria (fn. 82 above); Art. 67 (first sentence) EMA/Jordan (fn. 80 above); Art. 47(1) EMA/Lebanon (fn. 83 above); Art. 46 (first sentence) EMA/Egypt (fn. 81 above).

  197. 197.

    In more detail see the paragraph above concerning bilateral contractual relationships between the EU and several neighbouring countries within the framework of the eastern ENP dimension.

  198. 198.

    In more detail see the paragraph above concerning investment promotion and investment protection within the scope of the aforementioned partnership and cooperation agreements.

  199. 199.

    See Art. 54(2) (dash 2) PCA/Ukraine (fn. 138 above); Art. 53(2) (dash 2) APZ/Moldavia (fn. 139 above); Art. 49(2) (dash 2) PCA/Georgia (fn. 140 above); Art. 47(2) (dash 2) PCA/Armenia (fn. 141 above); Art. 48(2) (dash 2) PCA/Azerbaijan (fn. 142 above).

  200. 200.

    With further references see fn. 19 above.

  201. 201.

    In more detail see Bungenberg, Außenbeziehungen und Außenhandelspolitik, in: Schwarze/Hatje, Der Reformvertrag von Lissabon, EuR Beiheft 1, 2009, p. 195 (207 et seq.); Griebel, Überlegungen zur Wahrnehmung der neuen EU-Kompetenz für ausländische Direktinvestitionen nach Inkrafttreten des Vertrags von Lissabon, RIW (2009), pp. 469 et seq.; Tietje, Die Gemeinsame Handelspolitik der EU im System des Welthandelsrechts: Ein Spannungsverhältnis zwischen fortschreitender Liberalisierung und zunehmendem Protektionismus, in: Pache/Schorkopf (eds.), Die Europäische Union nach Lissabon – Beiträge zu Organisation, Außenbeziehungen und Stellung im Welthandelsrecht, 2009, pp. 48 et seq.; this exclusive EU-competence in the area of direct investments was also intended by the Treaty establishing a Constitution for Europe from 2004, for more on this see Hummer, in: Vedder/Heintschel v. Heinegg (eds), Europäischer Verfassungsvertrag – Handkommentar, 2007, Art. III-315 paras. 9 et seq.; Krajewski, Demokratische Kontrolle der Gemeinsamen Handelspolitik, in: Bruha/Nowak (eds.), Die Europäische Union: Innere Verfasstheit und globale Handlungsfähigkeit, 2006, pp. 249 et seq.

  202. 202.

    For more on this Declaration see Nowak, Multilaterale und bilaterale Elemente der EU-Assoziations-, Partnerschafts- und Nachbarschaftspolitik, EuR (2010) 6, p. 746 et seq.; Tiede/Schirmer Die Östliche Partnerschaft der Europäischen Union im Rahmen des Gemeinschaftsrechts, Osteuropa-Recht 55 (2009), pp. 184 et seq.

  203. 203.

    For this agreement, which entered into force on 1 April 2009, see the paragraph above concerning bilateral contractual relationships between the EU and its Member States, of the one part, and individual countries of the western Balkans, of the other part.

  204. 204.

    In detail see the paragraph above concerning investment promotion and investment protection within the scope of the aforementioned association and stabilisation agreements.

  205. 205.

    For further references see fn. 201 above.

  206. 206.

    For the controversial effects of the above-mentioned transfer of powers in the area of foreign direct investments on current and future planed bilateral contracts on investment protection of the Member States see in detail Raith, The Common Commercial Policy and the Lisbon judgement of the German Constitutional Court of 30 June 2009, ZEuS 2009, p. 613 (620 et seq.); Tietje, Außenwirtschaftsrechtliche Dimensionen der europäischen Wirtschaftsverfassung, in: Fastenrath/Nowak, Der Lissabonner Reformvertrag – Änderungsimpulse in einzelnen Rechts- und Politikbereichen, 2009, p. 237 (246 et seq.); see further the “Lisbon”-Decision of the German Federal Constitutional Court of 30 June 2009 (2 BvE 2/08), EuGRZ 2009, p. 339 (383).

  207. 207.

    For more details see Bungenberg, Außenbeziehungen und Außenhandelspolitik, in: Schwarze/Hatje, Der Reformvertrag von Lissabon, EuR Beiheft 1, 2009, p. 195 (208); Burgstaller, European Law and Investment Treaties, J.Int.Arb. 26 (2009), p. 181 (204 et seq.); Maydell, The European Community’s Minimum Platform on Investment or the Trojan Horse of Investment Competence, in: Reinisch/Knahr (eds.), International Investment Law in Context, 2007, pp. 73 et seq.; Klamert/Maydell, Lost in Exclusivity: Implied Non-exclusive External Competences in Community Law, European Foreign Affairs Review 13 (2008), p. 493 (511 et seq.); for the revisited version of the Minimum Platform on Investment see Council Document 7242/09 (Limite) of 6 March 2009.

  208. 208.

    Economic Partnership Agreement between the CARIFORUM States, of the one part, and the European Community and its Member States, of the other part (OJ 2008 L 289/3 et seq.).

  209. 209.

    For more on this see B. Friesen, Das Abkommen von Cotonou unter besonderer Berücksichtigung des neuen Handelsregimes, ZEuS 2009, pp. 419 et seq.

  210. 210.

    See Art. 1 lit. b), e) and f) of this economic partnership agreement (fn. 208 above).

  211. 211.

    See Arts. 67, 68 and 70 of this economic partnership agreement (fn. 208 above); see also Westcott, The Cariforum-EU Economic Partnership Agreement and Interim Agreements between Other ACP Regions and the EU: Investment Provisions and Commitments, in: GTZ (ed.), Cariforum EPA and beyond: Recommendations and negotiations on Services and Trade related Issues in EPAs, 2008 (available at: http://www.gtz.de/en/themen/laendliche-entwicklung/24568.htm).

  212. 212.

    German translation published in OJEC 1998 L 69/26 et seq. (hereinafter referred to as “the Energy Charter Treaty”); for important additional information see the final act of the European Energy Charta Conference (OJEC 1998 L 69/5 et seq.); for more details regarding the Energy Charter Treaty see Nowak, Multilaterale und bilaterale Elemente der EU-Assoziations-, Partnerschafts- und Nachbarschaftspolitik, EuR (2010) 6, p. (forthcoming).

  213. 213.

    In more detail see Burgstaller, European Law and Investment Treaties, J. Int. Arb. 26 (2009), p. 181 (206 et seq.); Tietje Die Beilegung internationaler Investitionsstreitigkeiten, in: Marauhn (ed.), Streitbeilegung in den internationalen Wirtschaftsbeziehungen, 2005, p. 47 (56 et seq.).

  214. 214.

    See Art. 10 of the Energy Charter Treaty (fn. 212 above).

  215. 215.

    See Art. 12 of the Energy Charter Treaty (fn. 212 above).

  216. 216.

    See Art. 13 of the Energy Charter Treaty (fn. 212 above).

  217. 217.

    See Art. 14 of the Energy Charter Treaty (fn. 212 above).

  218. 218.

    See Art. 26 of the Energy Charter Treaty (fn. 212 above).

  219. 219.

    See Art. 26(4) lit. a) and b) as well as Art. 27(3) lit. f) of the Energy Charter Treaty (fn. 212 above); for the Settlement of Investment Disputes according to the ICSID-System see Broches, Selected Essays: World Bank, ICSID, and Other Subjects of Public and Private International Law, 1995, pp. 161 et seq.; Comeaux/Kinsella, Protecting Foreign Investment under International Law: Legal Aspects of Political Risk, 1997, pp. 195 et seq.; Hirsch, The Arbitration Mechanism of the International Center for the Settlement of Investment Disputes, 1993, pp. 9 et seq.; Hobe/Müller, Die Schiedsgerichtsbarkeit des International Centre for Settlement of Investment Disputes (ICSID), WiVerw (2009) 1, pp. 65 et seq.; Krajewski, Wirtschaftsvölkerrecht, 2006, pp. 208 et seq.; Reinisch, Die Beilegung von Investitionsstreitigkeiten, in: Tietje (ed.), Internationales Wirtschaftsrecht, 2009, pp. 809 et seq.; Sornarajah, The Settlement of Foreign Investment Disputes, 2000, pp. 151 et seq.; Vinuesa, Jurisdictional Objections to ICSID Arbitration under Bilateral Investment Treaties, in: Bröhmer/Bieber/Calliess/Langenfeld/Weber/Wolf (eds.), Internationale Gemeinschaft und Menschenrechte – Festschrift für G. Ress, 2005, pp. 331 et seq.

  220. 220.

    For more on this see Griebel, Überlegungen zur Wahrnehmung der neuen EU-Kompetenz für ausländische Direktinvestitionen nach Inkrafttreten des Vertrags von Lissabon, RIW (2009), pp. 469 et seq.

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  1. Europa-Universität Viadrina, Große Scharrnstraße 59, 15230, Frankfurt (Oder), Germany

    Carsten Nowak (Chair for public law, especially european law; furthermore, the author is the director for the Frankfurt Institute for European Law)

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  1. , Business Economics and Business Law, University of Siegen, Hölderlinstr. 3, Siegen, 57068, Germany

    Marc Bungenberg

  2. , International Investment Law Centre Colo, University of Cologne, Albertus Magnus Platz, Köln, 50935, Germany

    Joern Griebel

  3. , Juristische Fakultät, WHI, Humboldt-University of Berlin, Unter den Linden 6, Berlin, 10099, Germany

    Steffen Hindelang

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Nowak, C. (2011). Legal Arrangements for the Promotion and Protection of Foreign Investments Within the Framework of the EU Association Policy and European Neighbourhood Policy. In: Bungenberg, M., Griebel, J., Hindelang, S. (eds) International Investment Law and EU Law. European Yearbook of International Economic Law(). Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-14855-2_7

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