Research On Legal Issues Of China-Kyrgyzstan Bilateral Investment Agreement

Bilateral investment agreements(BIT)are the foundation of investment activities at the international level.BITs can ensure the establishment of favorable investment treatment,provide reliable protection,ensure that investors are not affected by nationalization and expropriation,create opportunities for the unhindered transfer of income from investment activities,and act as a guarantee in the event of international arbitration.In the era of globalization and economic integration,international investment is an important factor in the national economic development of any country,including the Kyrgyz Republic.Since independence,the government of the Kyrgyz Republic has passed a series of legislation to increase the attractiveness of Kyrgyzstan as a country of investment and signed a series of BITs.In recent years,under the Belt and Road initiative,direct investment inflows from China have increased dramatically.In 2016,China became the largest investor in Kyrgyzstan.Most of the BITs signed between China and the countries along the Belt and Road,including the China-Kyrgyzstan BIT,are outdated,making it difficult to provide effective protection for investment and protect the interests of the host country.The first chapter mainly summarizes the overview of BIT,mainly the concept of BIT and the concept of China-Kyrgyzstan BIT.The second chapter mainly reviews the BIT between China and the current countries along the Belt and Road,summarizes the development stages of China's BITs,and analyzes the characteristics and effectiveness of the BITs.The third chapter mainly analyzes that there are issues in the China-Kyrgyzstan BIT that need to be improved.For example,the “fair and equitable treatment”(FET)clause need to be improved.There are also issues related to environmental and labor,investment dispute settlement,and sustainable development.The fourth chapter mainly discusses the countermeasures of the China-Kyrgyzstan BIT and puts forward more specific measures to improve BIT.For example,the agreement needs to be updated,recommend Kyrgyzstan to formulate a model BIT,suggest China-Kyrgyzstan BIT improve and clarify the scope of application of FET.Add environmental and labor clauses;improve Investor-State dispute settlement mechanism(ISDS).The state must develop and strengthen its internal judicial system to meet the requirements of openness and independence,and to comply with the principles of justice and the rule of law for the interests of all citizens and legal persons,including foreign investors.Joining the clause of sustainable development,our countries should conclude BIT,the purpose of which is to achieve common and sustainable growth.We outline the legal issues of the current China-Kyrgyzstan BIT and the need to update BIT in accordance with the new stage of investment and trade cooperation between China and Kyrgyzstan.