Volume 12 (2015) / Issue 47
ABSTRACT: The article analyzes the recently signed Cooperation and Investment Facilitation Agreements (CIFA), especially in respect to their dispute settlement mechanisms. We present a brief overview of the Brazilian experience with the “previous model” of International Investment Agreements (IIAs) and the creation process of the “new model”, as well as the international reorientation as to IIAs. Next, we analyze the criticisms directed to the investor-State dispute settlement mechanism and the proposed changes that are being disseminated. We conclude with an analysis of the position adopted by Brazil with regards to arbitration in the CIFAs, especially of the reasons that seem to explain the rejection of the investor-State mechanism. This article sustains that the CIFAs must not be considered a backwards movement or an evidence of a contradictory position of the Brazilian government towards arbitration, but as an instrument with potential to insert it in the debate on the international regime of investment promotion and protection.
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