Good Governance Obligations in International Economic Law: A Comparative Analysis of Trade and Investment

Abstract

International trade and international investment agreements typically contain provisions requiring the parties to comply with good governance principles, such as procedural fairness and transparency. These provisions are increasingly the subject of disputes before international tribunals. The scope of these obligations is often unclear, as treaty provisions usually employ broad standards rather than specific rules. For example, the requirement to accord investors 'fair and equitable treatment' is common in international investment agreements, while WTO agreements demand the 'reasonable and impartial administration of measures'. This article compares approaches in international investment and..