Bilateral Investment Treaties Quiz

The historical context of BITs includes the colonial era with the use of force to impose international agreements/tribunals, as well as the last century's focus on the prohibition of the use of force, expropriation, nationalization, and the debate between the Hull doctrine and the Calvo doctrine regarding national treatment.

The Minimum Standard of Treatment includes the protection of life, freedom, and property of foreigners, as well as regulations regarding expropriation for public purpose and the payment of prompt adequate compensation. It also involves the Calvo Doctrine, which emphasizes national treatment and the agreement to the sole remedy of local courts.

BITs aim to protect contracts between states and foreign investors by promoting and safeguarding foreign investment, as well as by establishing regulations for the resolution of disputes and the enforcement of contractual rights.

The First BIT in 1958 marked the beginning of a series of international agreements aimed at encouraging and regulating foreign investment, setting a precedent for the development of subsequent BITs and shaping the framework for protecting the interests of foreign investors.

The key principles involved in the New International Economic Order Resolutions of the UN General Assembly included addressing issues related to promoting and protecting foreign investment, as well as establishing guidelines for ensuring fair treatment and dispute resolution in international economic relations.