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16 J. World Investment & Trade 1018 (2015)
Regulatory Freedom and Control in the New ASEAN Regional Investment Treaties

handle is hein.journals/jworldit16 and id is 1030 raw text is: 

               THE JOURNAL OF WORLD INVESTMENT & TRADE                wotn f
 BRILL                       16 (2015) 1018-1057                   Investn*t&Trade
 NIJHOFF                                                            brilLcom/jwit

 Regulatory Freedom and Control in the New

ASEAN Regional Investment Treaties

        Diane A. Desierto
      University of Hawai'i Richardson School of Law, Honolulu, USA


The expanding universe of regional investment agreements of the Association of
Southeast Asian Nations (ASEAN) illustrates the difficulties of accepting host States'
expansive regulatory freedoms, while neglecting to design durable institutional controls
for regionally-coordinated investment treaty compliance and regionally-harmonized
investment treaty interpretation. Since its transformation from a loose economic coop-
eration into a rules-based organization discharging binding executive-legislative func-
tions under its 20o8 Charter, ASEAN has already entered into regional investment
treaties applicable within the ten ASEAN Member States (2oo9), as well as with China
(2010), India (2014), Australia and New Zealand (2009), Korea (2009), and Japan
(20o8). Negotiations are pending with the United States, the European Union, and
Canada. Institutional deficits in the monitoring and implementation of ASEAN
regional investment treaties could be addressed by strengthening the mandate and
capacity of the ASEAN Investment Area (AIA) Council. An intergovernmental cen-
tralized appellate mechanism could help facilitate harmonized interpretation of
these regional treaties.

   Professor for International Law, International Economic Law, International Investment and
   Commercial Arbitration, ASEAN Law, Business Associations, IHR and IHL in ASEAN,
   University of Hawai'i Richardson School of Law, Honolulu, United States; Co-Director,
   ASEAN Law & Integration Center (ALIC); Adjunct Fellow, East-West Center USA; Legal
   Expert for the ASEAN Coordinating Committee on Investment and ASEAN Connectivity
   through Trade and Investment; Experts' Group Team Leader, Oxford Investment Claims. JSD,
   LLM, Yale Law School, JD cum laude, BSc Economics summa cum laude, University of the
   Philippines. This chapter was prepared for the Panel 'The Changing Geography of
   International Investment Law: The Dawn of the Asian Century?', 15 November 2013, at the
   Fourth Biennial Conference of the Asian Society of International Law, India Habitat Centre,
   New Delhi, India, 14-16 November 2013.

© KONINKLIJKE BRILL NV, LEIDEN, 2015  1 DOI 10.1163/22119000-01606009

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