Dear Members of the WIN,  
It is my pleasure to share with you UNCTAD's IIA Issues Note entitled: 
"International investment policymaking in transition: challenges and 
opportunities of treaty renewal". 

Today, the international investment regime consists of over 3,200 
treaties. This includes more than 2,860 bilateral investment treaties and 
over 340 "other" international investment agreements (e.g. free trade 
agreements, economic partnership agreements or framework agreements with 
an investment dimension). 

At the same time, the international investment regime poses a series of 
systemic, capacity and development challenges. Countries are taking 
actions to address these challenges, such as clarifying the meaning of 
treaty provisions, replacing older treaties with new ones, and revising or 
terminating them. Treaty expiration provides opportunities for such 
According to UNCTAD’s analysis, by the end of 2013, more than 1,300 
bilateral investment treaties will be at the stage where they could be 
terminated or renegotiated at any time. These account for 45 percent of 
the bilateral investment treaties in existence today.  Furthermore, 
between 2014 and 2018, at least 350 BITs will reach the end of their 
initial duration. 

Treaty expiration in large numbers makes it possible to address 
inconsistencies and overlaps in the multi-faceted and multi-layered 
investment regime, and to update it in light of a development paradigm 
shift. In taking such actions, countries need to weigh up the pros and 
cons in view of their investment climate (and foreign investors’ 
perception of it), their own investors abroad, and their overall 
development strategies. 
                                                * **
An analysis of overall investment policy developments, both at the 
national and international levels, will be available in UNCTAD's 2013 
World Investment Report (WIR), to be launched globally on 26th June. The 
report will also present recent global and regional investment trends. The 
theme of the report is global value chains: investment and trade for 

James Zhan 
Investment & Enterprise Division 
United Nations Conference on Trade & Development 
Palais des Nations, Geneva 
Tel: +41 22 9175797 (World Investment Reports)