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Summaries of EU Legislation

Bilateral investment agreements — EU and non-EU countries

Date of last review:
14/12/2017
Initial creation date:
01/02/2018
Summarised document(s):
Author:
Publications Office of the European Union
Responsible entity(ies):
Directorate-General for Trade and Economic Security

Bilateral investment agreements — EU and non-EU countries

SUMMARY OF:

Regulation (EU) 1219/2012 establishing transitional arrangements for bilateral investment agreements between EU countries and non-EU countries

WHAT IS THE AIM OF THIS REGULATION?

It aims to ensure a smooth transition from the current system of bilateral investment treaties (BITs) between EU countries and non-EU countries to a system under which BITs are negotiated by the European Commission.

This transition is required following the adoption of the Lisbon Treaty. Article 207 of the Treaty on the Functioning of the European Union establishes foreign direct investment as an EU competence as part of the EU’s common commercial policy.

KEY POINTS

What are bilateral investment treaties?

They establish the terms and conditions for private investment by nationals and companies of one country in another one.

BITs between an EU country and a non-EU country:

  • BITs signed before can, upon authorisation by the Commission, be:
    • maintained in force or enter into force under the conditions of the regulation until a BIT between the EU and a non-EU country comes into force,
    • amended (including to address an inconsistency between the BIT and EU law) or a new agreement can be concluded subject to the conditions set out in the regulation;
  • BITs signed between and are maintained in force or enter into force if, in the view of the Commission, they do not conflict with other EU law, are not inconsistent with the EU’s principles and are not deemed superfluous in view of Commission negotiations with that non-EU country;
  • if the conditions of the regulation are fulfilled, the Commission may authorise an EU country to enter into negotiation with a non-EU country concerning a new BIT or to sign and conclude a new BIT if the negotiation result is in line with the requirements of the regulation.

Oversight

The Commission has been given implementing powers to ensure that the regulation is implemented uniformly and is assisted by the Committee for Investment Agreements.

The Commission has to present a report on the application of this regulation by .

FROM WHEN DOES THE REGULATION APPLY?

It has applied since .

BACKGROUND

For more information, see:

MAIN DOCUMENT

Regulation (EU) No 1219/2012 of the European Parliament and of the Council of establishing transitional arrangements for bilateral investment agreements between Member States and third countries (OJ L 351, , pp. 40-46)

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