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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 desierto@hawaiiedu Abstract 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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