The First Bilateral Investment Treaties

Jus Gentium Professor Vandevelde has produce a remarkable account of the history of friendship, commerce, and navigation agreements.

Jos E. Alvarez, Herbert and Rose Rubin Professor of International Law, NYU School of Law Today the post-WWII consensus favoring free trade and capital flows is under severe strain. Kenneth Vandevelde, the leading historian of international investment law, reminds us how and why every U.S. President (starting with Franklin Delano Roosevelt) sought to use U.S. constitutional principles to project New Deal liberalism onto the world.

Professor Lucy Reed, Director of the Centre for International Law, National University of Singapore Professor Vandevelde provides a very much needed prequel to studies of the modern investment treaty regime. He traces key treaty provisions back to the late 1940s when efforts to launch an International Trade Organization failed, and investment principles then migrated into U.S. Friendship, Commerce, and Navigation (FCN) treaties. Most valuable is the chapter collecting the U.S. State Department's interpretation of provisions so central in bilateral investment treaties disputes today.

<strong>Kenneth J. Vandevelde</strong> is Professor of Law at Thomas Jefferson School of Law where he teaches international investment law and arbitration as well as public international law. He served as President and Dean of the law school from 1994 to 2005. Professor Vandevelde published extensively on international investment law, arbitration, and bilateral investment treaties authoring: <em>United States Investment Treaties: Policy and Practice</em> (1992), <em>U.S. International Investment Agreements</em> (Oxford, 2009), and <em>Bilateral Investment Treaties: History, Policy, and Interpretation</em> (Oxford, 2010). He published a number of articles on international investment law included in the <em>American Journal of International Law</em> and the<em> Harvard Journal of International Law. </em>He served as a consultant on international investment law to the Senate Foreign Relations Committee, the United Nations and various foreign governments. He worked at the U.S. Department of State's Office of the Legal Adviser and the Executive Office of the President on international investment law, and advised foreign governments on investment treaty negotiations.

Introduction About This Book New Deal Liberalism New Deal Liberalism in U.S. Foreign Investment Policy 1. U.S. Postwar Foreign Investment Policy Promoting Global Full Employment The Role of International Investment The Need to Promote and Regulate International Investment Developing a Foreign Investment Policy 2. Launching the U.S. Postwar FCN Treaty Program Inauguration of the U.S. Postwar FCN Treaty Program Preparing a Standard Draft Treaty The Influence of the American Business Community Negotiating the First Postwar FCN Treaty: China Negotiating an FCN Treaty with Italy Proposing an FCN Treaty with the Soviet Union 3. Seeking a Multilateral Treaty on Investment: The International Trade Organization The Proposal for an International Trade Organization The London Preparatory Meeting The Proposal for an Investment Code Drafting an Investment Code Proposing an Investment Code in Geneva Amending the U.S. Proposal in Geneva Negotiating the U.S. Proposal in Geneva The Cold War Comes to Geneva 4. Abandoning the International Trade Organization Devising a Strategy for the Havana Conference The Havana Conference The Aftermath of the Havana Conference 5. The FCN Treaties Become Investment Treaties Truman Proposes the Point Four Program Creating a Point Four Program Contemplating a New Investment Treaty Point Four Assistance and FCN Treaties Negotiating an FCN Treaty with Colombia Negotiating an FCN treaty with Uruguay Negotiating an FCN Treaty with Ireland Senate Advice and Consent to Ratification 1950 6. Negotiating the First Bilateral Investment Treaties: The Truman Years U.S. Negotiating Strategy Negotiating an FCN Treaty with Greece Negotiating an FCN Treaty with Denmark Negotiating with Italy -- Again Negotiating an FCN Treaty with Israel Negotiating an FCN Treaty with Ethiopia Negotiating an FCN Treaty with Japan Senate Advice and Consent to Ratification 1952-1953 Investment Treaties at the End of the Truman Administration 7. Negotiating the First Bilateral Investment Treaties: After the Truman Years Negotiating an FCN Treaty with Germany Negotiating an FCN treaty with Haiti Negotiating an FCN Treaty with Iran Negotiating an FCN Treaty with Nicaragua Negotiating an FCN Treaty with the Netherlands Negotiating an FCN Treaty with Korea Negotiating an FCN treaty with the Sultanate of Muscat and Oman Negotiating an FCN Treaty with Pakistan Negotiating an FCN Treaty with France Senate Advice and Consent to Ratification 1960 Negotiating an FCN treaty with Belgium Negotiating an FCN Treaty with Vietnam Senate Advice and Consent to Ratification 1961 Negotiating an FCN Treaty with Togo Negotiating an FCN Treaty with Thailand Continuity in the Kennedy, Johnson, Nixon and Ford Administrations 8. The International Law of Foreign Investment in the FCN Treaties Companies Protected by the Treaty Fair and Equitable Treatment Most Constant Protection and Security Treatment in Accordance with International Law Unreasonable or Discriminatory Measures National Treatment Most Favored Nation Treatment Expropriation Exchange Controls Employment Entry and Sojourn Judicial Access CoTransparency International Peace and Security Essential Security Interests Consultations Compromissory Clause Epilogue Appendix Excerpts from the 1955 Standard Draft U.S. FCN Treaty Index