Abstract
The present paper seeks to examine various issues of the contemporary International Investment Law within the classical international law framework found in Vattel’s Law of Nations written in the mid of the eighteenth century. On study it is found that Vattel’s work is an enriching source for the natural law principles contextually applicable to the contemporary international investment law. It is found that many of the contemporary international law institutions for protection of foreign investments like the scope and standards for protection of foreign investments, principles of reparation, exhaustion of local remedies, diplomatic protection, treaty based protection for foreign investments, measures for peaceful and coercive dispute resolution etc. can be traced in Vattel’s classical work. Contextualization of Vattel’s classical work to the contemporary issues of international investment law has the potential to enrich the contemporary literatures and jurisprudence on international investment law, particularly from the perspectives of pragmatic natural law philosophy.
Highlights
Vattel’s Law of NationsEmer de Vattel’s work titled “Le droit des gens
Further the body of contemporary international law on foreign investments has not been made over a day, it has evolved with the evolution of the foreign commerce in the annals of the history, and so, the closest historical seedling of the contemporary international investment law may be found in the principles of the classical international laws for the foreign commerce and foreign wealth
Given the rare instances of such activities, where the foreign nationals of one country may have obtained privileges from the sovereigns of other country to run factory, ports etc., it is understandable that a distinct branch of International Investment Law, so complex and vivid, as it is did not develop
Summary
Vattel professed that an eternal and immutable law of nature obliged a state to respect and to treat other states as equals and to provide mutual aid so far as that other stands in real need of its assistance, and the former can grant it without neglecting the duties it owes to itself Around these fundamental principles of law of nations, Vattel wrote his classical work on International Law, touching upon almost every aspect of International relations, politics, trade and war in four different parts (books) of the compendium
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