This book examines the relatively recent and under-explored phenomenon of outward foreign direct investment (FDI) from the large emerging market countries, focusing on the four BRIC states (Brazil, Russia, India, and China) and on the services sector meaning primarily telecommunications, finance, and transport. It considers the international legal framework governing FDI, discussing the nature and extent of the bilateral and regional investment treaty commitments undertaken by each of the BRIC states, including their commitments under the WTO General Agreement on Trade in Services, as well as their obligations as members of the International Monetary Fund and the World Bank.

Drawing on trends observed in the regulatory approach of these countries to FDI in services, including the observed flow of FDI both to and now from the developing world, the book proposes a multilateral investment treaty aimed at the liberalization and protection of FDI in services. The treaty will capture the emerging equilibrium in global FDI patterns signifying a unified approach to the regulation of foreign investment in the growing services economy by developing and developed economies alike. The treaty will strengthen the legitimacy of investor-state dispute settlement and recognize public interest norms such as environmental protection and human rights as well as allow signatories to retain sovereignty over matters relating to national security and economic stability.

About the Author:
David Collins is a Senior Lecturer at the City Law School of City University where he teaches and researches in the field of international economic law, specializing in the law of the World Trade Organization and international investment law. He is a Fellow of the Institute for Globalisation and International Regulation at Maastricht University, a frequent Visiting Professor at ESADE Law School and a Current Development Editor for the Manchester Journal of International Economic Law. David has been a Visiting Fellow at the Institute of International Economic Law of Georgetown University, the World Trade Institute of the University of Bern, the University of Sydney Law School, the Asian Institute of International Financial Law at the University of Hong Kong, and Columbia Law School. His research has attracted funding from the British Academy, the Society of Legal Scholars, and the Foundation for Canadian Studies in the UK.