Comparative Study of the Origin, Evolution and Current State of Play of Bilateral Investment Treaties (BITS) of BRICS Countries

Abstract

This paper attempts to compare and contrast the origin, evolution and current state of play of BIT programmes in five major emerging economies i.e. Brazil, Russia, India, China and South Africa or (BRICS economies). In recent years, there is a growing interest in these emerging economies, which are being seen as new engines of growth for the world economy. Further, these countries have emerged as not only key destinations of foreign investment but also as a source of foreign investment. This coupled with the increasing number of BITs signed by these countries, has increased the global integration of these nations with the world economy. This necessitates a study that compares and contrasts the experience of BRICS countries with respect to BITs.