Towards a Change in Paradigm of International Investment Agreements

The article addresses the problem of profound changes in international investment law that currently occur. One-sided development of this branch of international law has met considerable criticism from non-governmental organizations and numerous academic writers. Initiated reforms, discussed in the article, cover the relate to right to regulate, and changes in the substantive as well as procedural rights of investors with particular focus on correcting deficiencies of the ad-hoc arbitration mechanism. Conclusions indicate that the process of change that we witness can be considered as gradual recalibration of the paradigm of international investment agreements, which sets out to embody, to greater extent than before, values such as protection of human rights or environment.

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