World Trade Institute Advanced Studies12-The Interpretation and Application of the Most-Favored-Nation Clause in Investment Arbitration

The Interpretation and Application of the Most-Favored-Nation Clause in Investment Arbitration studies the interpretation and application of the MFN clause by investment tribunals in relation to both substantive and procedural treatment in investment treaties. The open access publication of this book has been published with the support of the Swiss National Science Foundation. In The Interpretation and Application of the Most-Favored-Nation Clause in Investment Arbitration, Dr. Anqi Wang provides suggestions for MFN drafting in future international investment agreements (IIAs), as well as for MFN application by investor-state dispute settlement (ISDS) tribunals in case of ambiguity. Dr. Wang conducts a systemic review of MFN clause in history and maps all the relevant ISDS cases. She argues that ISDS tribunals should interpret the MFN clause according to the treaty text on a case-by-case basis, and that tribunals should also consider state consent as the foundation for the jurisdiction of international adjudication, current IIA reform, and essential treaty interpretive principles.