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Article

Investors versus people: the public nature of International Investment Law

...[T]his paper will deal with the question about the public nature of international investment law and the need to effectively incorporate international human rights principles and laws within its framework...The second part will examine...how the current IIL framework is based on the existing paradigm of the need for economic growth as a means of development, without consideration of the fundamental human rights...[I]t will discuss why the international legal system needs to integrate the human rights framework in international investment law...[F]oreign investment...involves a great deal of human rights and public interest concerns.  Thus, the interaction between human rights and international investment law raises fundamental questions about international law’s fragmentation...[T]he fact that the current international human rights law framework obliges only states to promote, protect and guarantee people’s rights ignores the current global economic order in which corporations hold a greater power of influence over people’s lives...Governments should...include specific language aimed at making it clear that the investment protection and liberalization objectives of IIL must not be pursued at the expense of the protection of health, safety, the environment or the promotion of internationally recognized labour rights.