The Fair and Equitable Treatment (FET) Standard in International Investment Arbitration

This book presents comprehensive information on a range of issues in connection with the Fair and Equitable Treatment (FET) standard, with a particular focus on arbitral awards against host developing countries, thereby contributing to the available literature in this area of international investment law. It examines in detail the interpretation of the FET standard of key arbitral awards affecting host developing countries, demonstrating the full range of interpretation approaches adopted by the current investment tribunals. At the same time, the book offers valuable practical guidance for counsels/scholars representing host developing countries in investment arbitration, where balancing the competing interests of the foreign investors and the host developing countries in investment disputes poses a complex challenge. 

The book puts forward the pressing need for a re-conceptualized interpretation of the FET standard in tune with the developmental issues and challenges faced by host developing countries, recognizing these countries’ particular perspectives as an important and relevant aspect of investment  disputes (often ignored by the current investment tribunals), while continuing to ensure reasonable protections for foreign investors and therefore serving the needs of the system as whole. The findings presented here will greatly benefit host developing countries engaged in investment arbitration. In addition, the book offers an insightful guide for all researchers whose work involves investment law and investment arbitration issues. 

• Fair and Equitable Treatment (FET) Standard
• International Investment Arbitration
• Developing Countries in Investment Arbitration
• Investor Treatment Standard
• Settlement Of Disputes

“It would seem that works like the one by Professor Islam in analysing the perils of the elastic nature of the FET standard and the way arbitral tribunals interpret it, would encourage some soul-searching among many policymakers in the global South. Anyone with interest in international investment law would do well to consult this work of Professor Islam, and this is even more so for those in the global South.” (Md. Rizwanul Islam, afronomicslaw.org, March 3, 2021)

“The book flees from a Manichean vision of international investment law. It is not written against foreign investors and in favor of developing States. With a scientific caution, the author reflects on how bridges can be built between these two actors with the aim of upholding development priorities without undermining investors’ protection — thereby hinting at a fair and equitable treatment for host developing States.” (Nitish Monebhurrun, afronomicslaw.org, March 2, 2021)

• Department of Law, University of Dhaka, Dhaka, Bangladesh

  Rumana Islam

Dr. Rumana Islam is an Associate Professor at the Department of Law, University of Dhaka, Bangladesh. At present she also holds the position of Assistant Director (part-time) of the law research wing of Bangladesh Institute of Law and International Affairs (BILIA). After completing her LLB and LLM degrees from the University of Dhaka, she earned an LLM with a specialization in commercial law from the University of Cambridge (UK) in 2006. She completed her doctoral work at the University of Warwick (UK) with a Commonwealth Scholarship in 2015. Her research interests include international investment law, investment arbitration, commercial arbitration, public international law, banking and securities laws, corporate law and human rights.

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