Research On New Type Of Investment Barriers In Central Asian Countries Based On ICSID Cases

The most noteworthy new development in the field of international investment law is that the case law of international investment is being formed,which is mainly due to the beginning of the active participation of countries in the practice of international arbitration.Central Asia is an important region for Chinese overseas investors to invest and it's also the important part of "The Belt and Road"initiative.However,the research results of investment disputes in Central Asia are relatively few.The defense that the host country may advocate in arbitration is not known.The new type of investment barriers in Central Asia in this paper are the claims of the Central Asian countries in the existed ICSID arbitration cases.Different from investment barriers in the stage of investment access,such new type of investment barriers arise when investment disputes occur and when investors seek rights relief in the ICSID arbitration tribunal to protect their interests.This is a kind of hidden investment barriers.This article examines a large number of arbitral tribunal's arbitration cases to explore the arbitration court's ruling path and the related international investment law theory's new changes.The purpose of this article is to provides reference for China and Central Asian countries to sign and update relevant investment treaties,and to provide investors with investment in Central Asian countries to breaktherelated investment barriers.The article is including four parts,and the main contents are as follows:The first part is centered on the case of KT Asia v.Kazakhstan,study on the plea of Central Asian countries based on the jurisdiction of arbitral tribunal and then in-depth analysis of Central Asian countries' recognition and attitude towards foreign investment.Investors should effectively choose their investment methods and fields,thereby reducing investment risks and preventing investment barriers.This part mainly analyzes the constituent elements of the jurisdiction of the ICSID arbitration tribunal and the definition of "investor","investment," and "abuse the ICSID arbitration" by the arbitral tribunal.The second part is centered on the case of Liman v.Kazakhstan,and studies the denial of benefit clause invoked by Central Asian countries.Mainly expounds the jurisdiction,procedural requirements and burden of proof of denial of benefit clause invoked by Central Asian countries.The third part is centered on the case of Metal-Tech v.Uzbekistan,focuses on the plea of litigants involved in corruption put forward by Central Asian countries.Mainly inquires into the procedural and substantive problems of the arbitration tribunal to hear the investment disputes involving corruption,and analyzes the defects and remedy ways of the arbitration tribunal to hear the transnational corruption.The fourth part,on the basis of the first three parts,analyzes the enlightenment of the new type of investment barriers in Central Asia to China,and puts forward the specific provisions in the international investment treaties of China and the countermeasures that investors can take in the process of participating in the practice of arbitration.