Mohammad Belayet Hossain
Lecturer, School of Law,
Chittagong Independent University of Bangladesh
‘Globacolisation’ is a concept that derives from ‘globalisation’ and ‘colonisation’. There was a time when the developed countries colonised the developing and least-developed countries in the world through land but since the independence of these countries during 1940-50s, the developed states invented a new idea to colonise them that is through economy. ‘Globacolisation’ is a newly invented word that reflects the reality of the economic colonisation of the developing and least-developed states in the past, present and future. This article aims to analyse the institution of a bilateral investment treaty (BIT) and regional investment treaties and their contribution to the development of the law of foreign investment. It will also cover: an analysis of the investment protection provisions of the main regional trade and investment treaties; and the recent free trade agreements. The objective is to provide a sophisticated understanding of the standard of treatment of foreign investors under these treaties as opposed to customary international law.
Keywords: Foreign Investment, Regulation, Bilateral Investment Treaties, Regional Investment Treaties, Customary International Law