ABSTRACT
Treaties are at the heart of international investment law. Besides, international law recognises the autonomous right of the state to regulate its interest through its domestic laws and policies. 1 The ICSID tribunal in AAPL v. Sri Lanka (1990) declared that the general principles of international law and customary international laws are also part of international investment law. Hence, the legal framework for international investment consists of the Bilateral Investment Treaties (BITs) and treaties with investment-related provisions (TIPs) (together as the International Investment Agreements or IIAs), and the domestic laws.
