Characteristics of the FDI Legal Regime in the EU Law Cover Image

КАРАКТЕРИСТИКЕ ПРАВНОГ РЕЖИМА СТРАНИХ ДИРЕКТНИХ ИНВЕСТИЦИЈА У ПРАВУ ЕУ
Characteristics of the FDI Legal Regime in the EU Law

Author(s): Aleksandar Ćirić, Predrag Cvetković
Subject(s): Law on Economics, EU-Legislation
Published by: Правни факултет Универзитета у Нишу
Keywords: Treaty of Lisbon; Common Commercial Policy; bilateral agreements on the treatment and protection of foreign investments; FDI

Summary/Abstract: Once the Lisbon Treaty entered into force on 1 January 2009, the regulatory competences over Foreign Direct Investments (FDI) were transferred from the Member States to the European Union. The change was instituted as a result of a new EU Common Commercial Policy (CCP) framework, which was extended by including the legal treatment of foreign direct investment into the CCP regulatory scope. The effect of this development has a dual paradigm: first, the above change affects the existing legal regime of foreign direct investment in the Member States, which is primarily based on the rules of Bilateral Investment Treaties (BITs) concluded by those States; second, the new CCP format calls for a precise regulation of some open questions and issues pertaining to its implementation in the post-Lisbon FDI regulation process by means of secondary legislation of the Union. The second paradigm is reflected in the effort to address the outstanding issues of the concrete implementation of the new CCP framework in the context of division of competences between the EU and the Member States. This effort resulted in issuing the Draft Regulation establishing transitional arrangements for bilateral investment agreements between Member States and third countries. The directions for future development of the FDI regime in the light of the extended CCP framework are also contained in the case law generated by EU judicial bodies.

  • Issue Year: LIII/2014
  • Issue No: 68
  • Page Range: 679-696
  • Page Count: 18
  • Language: Serbian