WTO provides an institutional framework
Basically, the WTO provides an institutional framework for trade in goods (incl.
Issues related to it), trade in services (GATS), trade-related aspects of
intellectual property rights (TRIPS) and a mechanism for dispute settlement.
Agreements by WTO members need to be “WTO compatible”, i.e. Respecting
global trade rules and disciplines, and members need to notify the organisation
of new accords.
Arrangements for investment have developed quite differently. There is no
parallel international organisation or body of rules for investment. Some
aspects of investment policies are dealt with as part of multilateral trade rules
(GATS for services-related, TRIPS for intellectual property and TRIMs for trade-
related investment measures) but by and large investment has mostly been
protected through bilateral agreements (BITs). In some cases, there are also
sectoral agreements (e.g. Energy Charter Treaty) or investment provisions are
part of regional and bilateral trade agreements (e.g. NAFTA or CETA).
Globally,there are 2.324 BITs and another 297 treaties with investment provisions in
force. The EU or its member states are currently signatories to about half of
the existing BITs
EU Forecast
euf:ba18.c:43/nws-01