Abstract
After the Treaty of Lisbon the European Union has an exclusive and uniform competence regarding investment agreements within its common commercial policy. Yet the political events in 2016 showed that there are still many regional differences politically and economically, especially after the so-called Brexit and negotiations with the United States of America in relation to transatlantic trade and investment. Therefore, the aim of the research is to determine the legal framework and related problems for unified investment protection within the European Union. Using descriptive, logical and deductive methodology the paper establishes a juristic base consensus for trade and investment policies, concludes that so far those policies have been systemically neglected due to regional differences in economic development and accordingly suggests to unify and protect the common investment policies by using already existing regional judicial mechanisms of member states within a unified code of conduct.
Highlights
The European Union (EU) has a uniform competence for investment agreements within the common commercial policy
According to the aforementioned legal evaluation, the author concludes the following: 1. The Treaty on the Functioning of the EU has created a central, but legally unsophisticated investment protection mechanism with a somewhat new common commercial policy approach under which the EU acts as a representative entity for its member states for inter alia investment issues, so the need is to establish EU wide political congruence for that
The EU faces criticism whenever it challenges democratic principles of public transparency for the sake of private interests for capital allocation, so the lobbying and sustainable development criteria should be as big of an issue within the common commercial policy as trade and investment issues
Summary
The European Union (EU) has a uniform competence for investment agreements within the common commercial policy. Political congruency faces increased difficulties because of interdependencies, procedures within the so-called Banking Union and unified policy arrangements for sustained investment. The results show that unified investment legal protection can be achieved within a comprehensive framework according to existing member state judicial procedures for investment protections since it relates to prior established bilateral treaties and protection of property rights in general. The merit for legal analysis lies in the common commercial policy interests for unified investment protection and the author suggests to implement national law attributes for investment protection within a decentralized, systemically congruent, legal regulation for coherent investment protection
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