Mutual Impacts of International Investment Law and Law of the Sea under the BITs and ISDS cases: a Fundamental Analysis of EEZ, Contiguous Zone, and Continental Shelf

Аннотация

The opportunities and resources contained in the Exclusive Economic Zone, the Contiguous Zone, and the continental shelf attract foreign investors to invest in the waters, living and non-living resources separately. Investment in these zones is admissible to be regarded as an interdisciplinary issue, given its capacity to establish a nexus between three distinct branches of international law: namely, investment law, the law of the sea, and environmental law. The coexistence of these three branches of government engenders a complex environment for investment in these zones. The fundamental question posed in this study is: what are the key considerations in relation to successful investment in the Exclusive Economic Zone, contiguous zone and continental shelf, which should be taken into account at the outset? A comprehensive analysis of the United Nations Convention on the Law of the Sea, Bilateral Investment Treaties, Investor-State Dispute Settlement cases and pertinent environmental regulations was conducted to ascertain the factors that contribute to a successful investment in these regions. The analysis concluded that a successful investor must consider four key aspects when contemplating investment in these zones. Firstly, the nature of the relevant zones must be taken into account. Secondly, investment permits must be based on the nature of the zones. Thirdly, the Exclusive Economic Zone, Contiguous Zone and continental shelf under Bilateral Investment Treaties must be considered. Finally, the establishment of peaceful coexistence is paramount. It is evident that an absence of consideration for each of the four aspects results in a challenge for the investment.