The Scope of Most-Favoured-Nation Clauses in International Investment Agreements
2019-05-21T12:54:12Z (GMT) by
International Investment Agreements (IIAs) frequently include Most-Favoured-Nation (MFN) clauses by which host states typically promise to accord beneficiary states, and their investors, treatment no less favourable than they accord third states and their investors. It is thought that MFN clauses multi-lateralise this area of law that is dominated by bilateral treaties, by allowing importation of more favourable provisions from other IIAs signed by the host state. The extent of this multi-lateralisation has generated controversy. This thesis examines the jurisprudence and arbitral decisions regarding MFN clauses. It argues that the multi-lateralisation scope of MFN clauses is very limited, if not unsustained.