Investment Promotion and Protection in the Canada-UK Trade Relationship

促进和保护投资已成为加拿大与英国未来贸易关系的重要组成部分。虽然英国脱欧为制定新的双边自由贸易协定铺平了道路，但这两个国家的外国直接投资存量的重要性-2016年加拿大在英国的直接投资为979亿加元，英国在加拿大的直接投资为418亿加元-使得考虑双边投资监管至关重要。与此同时，加拿大和英国之间国际投资监管的确切性质和内容仍然高度不确定。投资保护已成为不可否认的争议的主题。一些利益相关者批评国际投资仲裁缺乏合法性，大多数国际投资协定都使用国际投资仲裁来解决外国投资者与国家之间的争端。要求进行改革的许多呼吁也表明，人们越来越有兴趣将投资保护与人权、环境保护、劳工权利和禁止腐败等问题联系起来。此外，自《里斯本条约》将该领域的专属管辖权赋予欧盟以来，英国一直没有对外国直接投资的控制权;英国重新获得控制权后将设定哪些优先事项尚不得而知。围绕加拿大和英国之间的国际投资协议的性质和内容的不确定性需要更深入地了解手头的可能性范围。这一知识综合项目力求查明和分析可以和应该列入任何此类国际投资协定的条款。该项目依靠对国际投资协定的内容分析和国际投资法专家的建议，探讨谈判者在解决争端、给予外国投资者保护的范围和对这些行为者规定的义务方面必须考虑的各种可能性。尽管对国际投资法的性质提出了许多批评，但从法律的角度来看，明确处理这些关切是完全可行的。综合有关这些条款的知识将确保决策者以适当的工具处理这些独特的谈判，以最大限度地扩大两国的利益，并有助于建立一个更合法的国际投资制度。

The promotion and the protection of investment have emerged as a crucial part of the future trade relationship between Canada and the United Kingdom (UK). While Brexit has paved the way for the elaboration of a new bilateral free trade agreement, the significance of foreign direct investment stock in these two countries - CAN$ 97.9 billion of Canadian direct investment in the UK and CAN$ 41.8 billion of direct investment from the UK in Canada in 2016 - makes the consideration of bilateral investment regulation essential. At the same time, the exact nature and content of international investment regulation between Canada and the UK remain highly uncertain. Investment protection has become subject to undeniable controversy. Several stakeholders criticize the lack of legitimacy of international investment arbitration, used in the majority of international investment agreements to settle disputes between foreign investors and states. Numerous calls for reform also demonstrate an increased interest in linking investment protection with issues of human rights, environmental protection, labour rights and the prohibition of corruption. Moreover, the UK has not had control over foreign direct investment since the Lisbon Treaty gave exclusive competence in the area to the European Union; what priorities the UK will set once it has retaken control is unknown. The uncertainty surrounding the nature and the content of an international investment agreement between Canada and the UK requires a deeper understanding of the range of possibilities at hand. This knowledge synthesis project seeks to identify and analyze provisions that could and should be included in any such international investment agreement. Relying on a content analysis of international investment agreements and propositions from experts in international investment law, the project addresses the various possibilities that will have to be considered by negotiators with respect to dispute settlement, the breadth of protections granted to foreign investors, and obligations imposed on these actors. Despite the numerous criticisms that have been formulated against the very nature of international investment law, explicitly engaging with these concerns is entirely feasible from a legal perspective. Synthesizing knowledge regarding these provisions will ensure that policy-makers approach these unique negotiations with the appropriate tools to maximize the benefits to both countries and contribute to building a more legitimate international investment regime.