Document Type : Article
Associate Prof., Department of International Law, Faculty of Law, Shahid Beheshti University, Tehran, Iran
Ph.D. Candidate in International Law, Faculty of Law, Shahid Beheshti University, Tehran, Iran
Sustainable development has become the epicenter of collective international policy-making. As such, foreign direct investment, as the empowering engine for SD, has attracted much attention. It is believed that sustainable development cannot be achieved without foreign investment. Traditional international investment agreements have been criticized for protecting foreign investors who deviate from the requirements of sustainable development. This has led to changes in these treaties, which are the subject of the present article. It seems that in the light of the plurality of references to sustainable development in new investment agreements, a balance has been created between the goals of sustainable development and the protection of foreign investors.
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- Eli Lilly and Company v. The Government of Canada, UNCITRAL, ICSID Case No UNCT/14/2.
- Gabčikovo-Nagymaros Project, Hungary v. Slovakia, ICJ, Judgment on Merits, 1997.
- Pulp Mills on the River Uruguay, Argentina v. Uruguay, ICJ, Judgment on Merits, 2010
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- D) Documents
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- Agreement between the Federal Republic of Germany and the People's Republic of Bangladesh concerning the Promotion and Reciprocal Protection of Investments, 1981.
- Agreement Establishing the World Trade Organization, 1995.
- Canada Model Foreign Investment Promotion and Protection Agreement, 2004.
- Comprehensive Economic and Trade Agreement (CETA) between Canada, of the One Part, and the European Union and its Member States, of the Other Part, 2016.
- Draft EU-Vietnam Free Trade Agreement, 2019.
- Group of Twenty, G20 Leaders Statement: The Pittsburgh Summit, September 24-25, 2009, Pittsburg Annex: Core Values for Sustainable Economic Activity.
- International Law Association’s 2002 New Delhi Declaration of Principles of International Law Relating to Sustainable Development.
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- Johannesburg Declaration on Sustainable Development, 4 September 2002.
- North American Free Trade Agreement ("NAFTA"), 1992.
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- Our Common Future, United Nations General Assembly (UNGA), "World Commission on Environment and Development", UNGA Res 42/427 (4th August 1987).
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- United Nations Conference on Environment and Development, Agenda 21: Program of Action for Sustainable Development (United Nations 1992).
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- United Nations General Assembly, Declaration on the Right to Development, A/RES/41/128, 4 December 1986.
- World Summit on Sustainable Development (WSSD), Johannesburg, South Africa, 2002.
- E) Websites:
- https://ec.europa.eu/trade/policy/accessing-markets/dispute-settlement/investment-disputes, last visited on 9 February 2020
References in Persian:
- A) Articles
- Eftekhar Jahromi, Goudarz (2009), Human Rights, Environment and Sustainable Development, Majale Tahghighat Hoghoughi (Legal Research Quaarterly of Shahid Beheshti University), Vol. (No.) 12, Issue 50, pp 7-24 (In Persian).
- Mir Mohammadi, Seyed Mostafa & Jahani Pour, Mohammad Reza (2018), Principles of Sustainable Development in The Jurisprudence of the International Court of Justice and the Internattional Tribunal for the Law of the Sea, Comparative Law Review, Tehran University, Vol. (No.) 8, Issue 2, pp. 799-819 (In Persian).
- Nikbakht, Hamid Reza; Beykmohammadi, Meysam & Bagheri Farhad (2020), Legal Approach to New Arrangements in Foreign Investment and its Impact on Sustainable Development, Public Law Studies Quarterly, Tehran University, Vol. (No.) 50, Issue. 1, pp. 217-237 (In Persian).
- B) Documents
- Bilateral Investment Agreement between The Islamic Republic of Iran and Luxemburg, 14 February 2017, Ratification Date 14 May 2018 (In Persian).