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The ASEAN Comprehensive Investment Agreement

The Regionalisation of Laws and Policy on Foreign Investment Julien Chaisse, Professor, Faculty of Law & Director Center for Financial Regulation and Economic Development, The Chinese University of Hong Kong and Sufian Jusoh, Institute of Malaysian and International Studies (IKMAS), Universiti Kebangsaan, Malaysia
The International Investment regime is one of the fastest growing areas of international economic law which increasingly rely on large membership investment treaties such as the ASEAN comprehensive Investment Agreement. This book comprehensively examines the role of this specific agreement and situates it in the wider trend towards the regionalisation of laws and policy on foreign investment.
Extent: 288 pp
Hardback Price: $125.00 Web: $112.50
Publication Date: 2016
ISBN: 978 1 78536 001 5
Availability: In Stock
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  • Asian Studies
  • Asian Law
  • Law - Academic
  • Asian Law
  • International Commercial Law
  • International Investment Law
  • International Economic Law, Trade Law
The international law of foreign investment is one of the fastest growing areas of international economic law and policy which increasingly rely on large membership investment treaties such as the ASEAN Comprehensive Investment Agreement (ACIA). This book comprehensively examines the role of this specific international treaty on investment and situates it in the wider global trend towards the regionalisation of laws and policy on foreign investment.

Considering the state of the ASEAN Economic Community in 2015 and its transformation until 2025, Julien Chaisse and Sufian Jusoh illustrate the pivotal role ACIA has to play in future international investment law negotiations and the benefits to ASEAN and third country investors and their investments. Collective commitment to a common standard contributes to depoliticise any potential conflict between individual investors and host states, making the agreement particularly crucial to discussions involving ASEAN Member States and between ASEAN and Dialogue Partners as well as to investment decisions including investment liberalisation and investment facilitation.

Offering the first detailed analysis of ACIA and its applications, this book will prove essential reading for legal practitioners in the field of international investment law as well as researchers and students studying the ASEAN Economic Community and its contemporary moulding.
‘In The ASEAN Comprehensive Investment Agreement: The Regionalization of Laws and Policy on Foreign Investment, Julien Chaisse and Sufian Jusoh provide analysis – unmatched in scope and detail – of ACIA’s role in supporting the development of the ASEAN Economic Community. This contribution will serve as an invaluable resource for policymakers, business leaders, lawyers, and scholars interested in the development of investment law and policy in Asia.’
– Mark Feldman, Peking University, China

‘Julien Chaisse and Sufian Jusoh take up the formidable challenge of unpacking the ingredients of the Asian “noodle bowl”, delivering a comprehensive book that synthesizes the convoluted investment legal standards pertaining to the ASEAN into an intelligible discourse. Throughout, they offer insight into the design and purpose of this model of economic integration, as well as its impact on the rights of investors from states neighbouring the ASEAN region. This volume serves as a reliable and practical guidebook that will edify any reader interested in the subject matter.’
– Kyle Dickson-Smith, FCIArb., Canada/Australia

‘Authored by two experts in the field, this book provides a thorough analysis of the ASEAN Comprehensive Investment Agreement. It is a timely contribution to an understanding of a key pillar of the ASEAN Economic Community and investment agreements in the Asia Pacific region. The book therefore serves as an essential source of reference for practitioners, scholars and policy makers.’
– Pasha Hsieh, Singapore Management University, Singapore

‘Despite its growing economic and political importance, ASEAN has attracted relatively little attention from international economic lawyers. In their new book, Julien Chaisse and Sufian Jusoh offer insightful and pellucid analysis of the complex investment rules within ASEAN that will inform scholars, legal practioners and policymakers alike. It will sit at the vanguard of excellence for the next generation of ASEAN scholarship.’
– Jurgen Kurtz, Melbourne Law School, The University of Melbourne, Australia

‘ASEAN's Comprehensive Investment Agreement–ACIA–endows one of the world's most vibrant regional compacts with a novel set of rules in the fastest growing province of international economic law. Chaisse and Jusoh's detailed and richly contextualized depiction of ASEAN's new investment rules reveals the adaptive capacity of host states. It will appeal to all those interested in the scholarly study of global norms at the frontiers of trade and investment law and policy and the numerous forces shaping them.’
– Pierre Sauvé, University of Bern, Switzerland

‘Overall, this book constitutes an interesting and useful addition to the literature in relation to developments in investment treaty practice in the important Asia-Pacific region and will be a helpful resource for students and scholars seeking to understand how the treaty works and the context in which it will operate.’
– Journal of Southeast Asian Economies

‘Overall, this book constitutes a fundamental piece of research and a useful tool to understand a complex region like ASEAN. This reviewer is glad to have had the opportunity to read it.’
– Contemporary Asia Arbitration Journal

Contents: 1. General Introduction PART I INTRODUCTION: MAPPING THE GROWTH OF THE INTERNATIONAL LAW OF FOREIGN INVESTMENT IN THE ASIA-PACIFIC REGION 2. ASEAN as an Important Investment Destination 3. Emergence of Asian Noodle Bowl of IIAs 4. Recent Phenomena: The Rise of Plurilateral Agreements With Wider Scope PART II ACIA AS A MILESTONE IN ASEAN HISTORY 5. The Asean Economic Community and the Asean Investment Framework 6. ASEAN Investment Scenario PART III THE SUBSTANTIVE REGIME OF THE ACIA 7. Investment Liberalisation 8. Scope of the Agreement: The Investment and the Investor 9. Principle of Non-Discrimination 10. Standards of Protection: Protecting Investors and Investments 11. Other Substantive Rules 12. Exceptions Under ACIA PART IV ACCESS TO DISPUTE SETTLEMENT MECHANISMS 13. Dispute Settlement PART V THE EMERGENCE OF AN ASEAN EXTERNAL INVESTMENT POLICY 14. ASEAN+DP Investment Agreements 15. Salient Similarities and Differences of ASEAN+DP PTAs 16. Cross Benefits of ACIA and ASEAN+DP PTAs PART VI CONCLUSION 17 Conclusion Index