Abstract
The present article argues for the need of an alternative way of thinking about international investment law and investor-State disputes in Latin America. The article explains how the current critical approach to foreign investment comes from a conceptual trajectory that originated in the 19th century with the work of Carlos Calvo, inspired in turn by Emer De Vattel’s conceptual model for international law, and how a principles discourse would be a viable alternative for enhancing the legitimacy of investment arbitration. The article further structures such a principles discourse in three clusters: general principles recognised by Latin American nations; principles compatible with concepts developed by investment arbitrators, and regional principles not yet recognised by international investment arbitrators. The last cluster contains in particular principles such as transparency and inclusion that ought to be the core of a Latin American discourse as the limit of the authority granted to investment arbitrators.
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