This paper discusses the interaction between international investment agreements and the condition of reciprocity set forth by Article 16 of the Preliminary provisions to the Italian civil code. It aims to assess whether investment agreements in force for the Italian State prevail over the application of the condition of reciprocity, in relation to the governance of the investment established in Italy by a foreign investor coming from a country outside the European Union. The analysis highlights that the fair and equitable treatment, the most favored nation treatment and the national treatment standards, included in most of the Italian investment agreements, protect foreign investors against unreasonable or discriminatory measures which could affect the management of their investments and therefore their application should prevail over the application of the condition of reciprocity in relation to the governance of the investment. This interpretation reflects the object and purpose of investment agreements, which is to promote and protect foreign direct investments and to develop international economic relations between States.

Trattati internazionali in materia di investimenti e condizione di reciprocità / Faccio, Sondra. - In: RIVISTA DI DIRITTO INTERNAZIONALE PRIVATO E PROCESSUALE. - ISSN 0035-6174. - STAMPA. - 2017:3(2017), pp. 693-712.

Trattati internazionali in materia di investimenti e condizione di reciprocità

Faccio, Sondra
2017-01-01

Abstract

This paper discusses the interaction between international investment agreements and the condition of reciprocity set forth by Article 16 of the Preliminary provisions to the Italian civil code. It aims to assess whether investment agreements in force for the Italian State prevail over the application of the condition of reciprocity, in relation to the governance of the investment established in Italy by a foreign investor coming from a country outside the European Union. The analysis highlights that the fair and equitable treatment, the most favored nation treatment and the national treatment standards, included in most of the Italian investment agreements, protect foreign investors against unreasonable or discriminatory measures which could affect the management of their investments and therefore their application should prevail over the application of the condition of reciprocity in relation to the governance of the investment. This interpretation reflects the object and purpose of investment agreements, which is to promote and protect foreign direct investments and to develop international economic relations between States.
2017
3
Faccio, Sondra
Trattati internazionali in materia di investimenti e condizione di reciprocità / Faccio, Sondra. - In: RIVISTA DI DIRITTO INTERNAZIONALE PRIVATO E PROCESSUALE. - ISSN 0035-6174. - STAMPA. - 2017:3(2017), pp. 693-712.
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11572/208681
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