Economic globalisation. Regional integration and protection of foreign investments in Brazil
DOI:
https://doi.org/10.5433/2178-8189.2009v13n0p89Keywords:
Economic globalization, regional integration, Multilateral Investment Guarantee Agency, MERCOSUR.Abstract
Economic globalization poses a challenge to enterprises looking for new markets. These enterprises search for new markets in countries that belong to regional integration organizations whose regulations- as well as those of the internal system of each country - shape the legal framework for foreign investments. Foreign enterprises investing in Brazil, for instance, are affected by Brazilian law as well as by Mercosur regulations. This article focuses on the Multilateral Investment Guarantee Agency and its insurance schemes - an institution that protects foreign investment in Brazil - as well as on a description of the Multilateral Conventions which rule the treatment and protection of foreign investments. This article concludes with a review of Mercosur´s main legal documents to protect investments and their interaction with Bilateral Investment Treaties, containing the new international law on foreign investments. To this day, Brazil has signed some bilateral investment treaties but has not yet ratified them.
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