Las obligaciones de promoción y protección de las inversiones extranjeras en la segunda generación de APPRI españoles

Abstract

A distinguishing feature of what we call the second generation of BITS, concluded by Spain, is the obligation of investment’s promotion broken down into the mutual information and transparency; this conception stands for a tangible obligation of conduct applicable by the States parties. Meanwhile, the obligation of protection is in the process of being consolidated through several standards of treatment: fair and equitable treatment, national treatment and the most favoured nation treatment. Besides, the model of protection is set by means of attributing international responsibility to the host State, the limitation of capital flows and, finally, the investor’s broad access to the means of dispute set out in BITS. Spain’s model BIT is halfway between the new normative tendencies pointed out in NAFTA and the classic model of BITS adopted by most of the EU member States. However, in order to avoid different approaches and to enhance the EU role, the definition of a common European model could be very useful for promotion and protection of foreign investment.