Overview of investment treaty programme
1. What are the key features of the investment treaties to which this country is a party?
Belgium
Nearly all of the bilateral investment treaties (BITs) that are the subject of this study were concluded by the Belgo-Luxemburg Economic Union (BLEU). The BLEU was established by treaty between Belgium and Luxembourg in 1921 for the purposes of boosting commercial exchange, regulating customs and excise taxes, and setting up common monetary policies. The treaty establishing the BLEU was most recently extended in 2002, broadening the relationship to reinforce cooperation in international institutions, defence, development and peacekeeping. When a treaty has not been concluded by the BLEU but rather by Belgium or Luxembourg alone, it shall be so noted.
BIT Contracting Party or MIT1 | Substantive protections | Procedural rights | ||||||
---|---|---|---|---|---|---|---|---|
Fair and equitable treatment (FET) | Expropriation | Protection and security |
Most-favoured-nation (MFN) | Umbrella clause | Cooling-off period | Local courts | Arbitration | |
1. | [Model BIT] (2002)2 | Yes | Yes | Yes | Yes | 6 months | Yes | Yes |
2. | Albania (18 October 2002) | Yes | Yes | Yes | Yes | 6 months | Yes | Yes |
3. | Algeria (13 February1992) | Yes | Yes | Yes | Yes | 6 months | No | No |
4. | Argentina (20 May 1994) | Yes | Yes | Yes | Yes | None (for submission to local authorities) | Yes | Yes |
5. | Armenia (19 December 2003) | Yes | Yes | Yes | Yes | 6 months | Yes | Yes |
6. | Azerbaijan (27 May 2009) | Yes | Yes | Yes | Yes | 6 months | Yes | Yes |
6. | Bangladesh (15 September 1987) | Yes | Yes | Yes | Yes | 3 months | Yes3 | Yes3 |
8. | Benin (30 August 2007) | Yes | Yes | Yes | Yes | 6 months | Yes | Yes |
9. | Bolivia (10 January 2004) | Yes | Yes | Yes | Yes | 6 months | No | Yes4 |
10. | Bosnia and Herzegovina (16 September 2010) | Yes | Yes | Yes | Yes | 6 months | Yes | Yes |
11. | Bulgaria (29 May 1991)5 | Yes | Yes | Yes | Yes | 6 months | Yes (expropriation compensation) only) | Yes (expropriation compensation) only) |
12. | Burkina Faso (13 January 2004) | Yes | Yes | Yes | Yes | 6 months | Yes | Yes |
13. | Burundi ( 12 September 1993) | Yes | Yes | Yes | Yes | 3 months | No | Yes |
14. | Cameroon (1 November 1981) | Yes | Yes | Yes | Yes | 6 months | No | Yes |
15. | Chile (5 August 1999) | Yes | Yes | Yes | Yes | 6 months | Yes | Yes |
16. | China (5 October 1986)6 | Yes | Yes | Yes | Yes | 6 months (expropriation compensation only) | Yes | Yes (expropriation compensation only) |
17. | China (1 December 2009) | Yes | Yes | Yes | Yes | 6 months | Yes | Yes |
18. | Croatia (29 December 2003)7 | Yes | Yes | Yes | Yes | 3 months | Yes | Yes |
19. | Cyprus (5 June 1999)8 | Yes | Yes | Yes | Yes | 6 months | No | Yes |
20. | Czech Republic9 (13 February 1992) | Yes | Yes | Yes | No | 6 months | No | Yes |
21. | Egypt (29 May 2002) | Yes | Yes | Yes | Yes | 6 months | No | Yes |
22. | El Salvador (12 November 2002) | Yes | Yes | Yes | Yes | 6 months | Yes | Yes |
23. | Estonia (23 October 1999)10 | Yes | Yes | Yes | Yes | 6 months | No | Yes |
24. | FYROM (former Yugoslav Republic of Macedonia) (4 November 2002) | Yes | Yes | Yes | Yes | 6 months | Yes | Yes |
25. | Gabon (28 May 2005) | Yes | Yes | Yes | Yes | 12 months | Yes | Yes |
26. | Georgia (3 July 1999) | Yes | Yes | Yes | Yes | 6 months | No | Yes |
27. | Hong Kong (18 June 2001) | Yes | Yes | Yes | Yes | 6 months11 | No | Yes |
28. | Hungary (28 September 1988)12 | Yes | Yes | Yes | Yes | 6 months | No | Yes |
29. | India (8 January 2001) | Yes | Yes | No | Yes | Yes | Yes | Yes |
30. | Indonesia (17 June 1972)13 | Yes | Yes | Yes | Yes | 6 months | No | Yes |
31. | Kazakhstan (6 February2001) | Yes | Yes | Yes | Yes | 6 months | Yes | Yes |
32. | Korea, Republic of (27 March 2011) | Yes | Yes | Yes | Yes | 6 months | Yes | Yes |
33. | Kuwait (8 December 2003) | Yes | Yes | Yes | Yes | 6 months | Yes14 | Yes |
34. | Latvia (4 April 1999)15 | Yes | Yes | Yes | Yes | 6 months | No | Yes |
35. | Lebanon (5 March 2004) | Yes | Yes | Yes | Yes | 6 months | Yes | Yes |
36. | Libya (8 December 2007) | Yes | Yes | Yes | Yes | 6 months | Yes | Yes |
37. | Lithuania (6 September 1999)16 | Yes | Yes | Yes | Yes | 6 months | Yes | Yes |
38. | Madagascar (29 November 2008) | Yes | Yes | Yes | Yes | 6 months | Yes | Yes |
39. | Malaysia (29 November 2008) | Yes | Yes | Yes | Yes | 3 months | No | Yes |
40. | Malta (15 June 1993)17 | Yes | Yes | Yes | Yes | 18 months | Yes | Yes |
41. | Mauritius (16 December 2009) | Yes | Yes | Yes | Yes | 6 months | Yes | Yes |
42. | Mexico (14 March 2003) | Yes | Yes | Yes | Yes | 6 months | Yes | Yes |
43. | Moldova (20 April 2002) | Yes | Yes | Yes | Yes | 6 months | No | Yes |
44. | Mongolia (15 April 2000) | Yes | Yes | Yes | Yes | 6 months | No | Yes |
45. | Morocco (29 May 2002) | Yes | Yes | Yes | Yes | 6 months | Yes | Yes |
46. | Mozambique (1 September 2009) | Yes | Yes | Yes | Yes | 6 months | No | Yes |
47. | Paraguay (9 January 2004) | Yes | Yes | Yes | Yes | 6 months | Yes | Yes |
48. | Peru (12 September 2008) | Yes | Yes | Yes | Yes | 6 months | Yes | Yes |
49. | Philippines (19 December 2003) | Yes | Yes | Yes | Yes | 6 months | Yes | Yes |
50. | Poland (2 August 1991)18 | Yes | Yes | Yes | Yes | 6 months (expropriation claims only) | No | Yes (expropriation compensation only) |
51. | Romania (9 March 2001)19 | Yes | Yes | No | Yes | None (for submission to local authorities) | Yes | Yes (expropriation compensation only) |
52. | Rwanda (1 August 1985)20 | Yes | Yes | Yes | Yes | 18 months | Yes | Yes |
53. | Russian Federation (13 October 1991)21 | Yes | Yes | Yes | Yes | 6 months (expropriation compensation only) | No | Yes (expropriation compensation only) |
54. | Saudi Arabia (11 June 2004) | Yes | Yes | Yes | Yes | 6 months | Yes | Yes |
55. | Serbia (12 August 2007) | Yes | Yes | Yes | Yes | 6 months | Yes | Yes |
56. | Singapore (27 November 1980) | Yes | Yes | Yes | Yes | 3 months | No | Yes |
57. | Slovakia (13 February 1992)22 | Yes | Yes | Yes | No | 6 months | No | Yes |
58. | Slovenia (14 January 2002)23 | Yes | Yes | Yes | Yes | 6 months | Yes | Yes |
59. | South Africa (14 March 2003)24 | Yes | Yes | Yes | Yes | 6 months | Yes | Yes |
60. | Sri Lanka (26 April 1984) | Yes | Yes | Yes | Yes | 6 months | No | Yes |
61. | Thailand (19 September 2004) | Yes | Yes | Yes | Yes | 6 months | No | Yes |
62. | Tunisia (18 October 2002) | Yes | Yes | Yes | Yes | 6 months | Yes | Yes |
63. | Turkey (4 May 1990) | Yes | Yes | Yes | Yes | 12 months | Yes | Yes |
64. | Ukraine (27 January 2001) | Yes | Yes | Yes | Yes | 6 months | Yes | Yes |
65. | United Arab Emirates (10 November 2007) | Yes | Yes | Yes | Yes | 6 months (for submission to local authorities)25 | Yes | Yes |
66. | Uruguay (23 April 1999) | Yes | Yes | Yes | Yes | 6 months (for submission to local authorities) | Yes | Yes |
67. | Uzbekistan (6 February 2001) | Yes | Yes | Yes | Yes | 6 months | Yes | Yes |
68. | Venezuela (29 April 2004) | Yes | Yes | Yes | Yes | 6 months | Yes | Yes26 |
69. | Vietnam (11 June 1999) | Yes | Yes | Yes | Yes | 6 months | No | No |
70. | Yemen (11 June 1999) | Yes | Yes | Yes | Yes | 6 months | Yes | Yes |
Substantive Protections | Procedural Rights | ||||||||
BIT Contracting Party or MIT | Fair and equitable treatment (FET) | Expropriation | Protection and Security | Most-favoured-nation (MFN) | Umbrella clause | Cooling-off period | Local courts | Arbitration | |
---|---|---|---|---|---|---|---|---|---|
Energy Charter Treaty (16 April 1998 for Luxembourg; 6 August 1998 for Belgium)27 | Yes | Yes | Yes | Yes | Yes | 3 months | Yes | Yes | Yes |