Consolidando la Política de Inversiones Por Medio De La Cláusula de Nación más Favorecida en los Tratados Internacionales de Inversión

Resumen La clausula de nacion mas favorecida ha recibido mucha atencion en el regimen internacional de inversiones en los ultimos anos. Las discusiones han girado respecto a si dicha disposicion permite atraer condiciones mas favorables relativas a la solucion de controversias. Este trabajo se aleja de dicha discusion y analiza otro problema que ha contado con menos atencion. Se refiere, particularmente, a la posibilidad de que por medio de dicha clausula se atraigan condiciones sustantivas mas favorables contenidas en tratados celebrados previamente. Esa posibilidad es de interes, pues la misma podria hacer dificil la modificacion de la politica de atraccion de inversiones de los Estados que ha sido plasmada en sus tratados de inversion. Si se considera que eventuales giros en la estrategia de desarrollo son deseables, la clausula constituye un obstaculo que deberia ser analizado con detencion. Palabras Clave: Clausula de nacion mas favorecida, inversion extranjera, politica de desarrollo, tratados bilaterales de inversion, multilateralismo. Abstract Consolidating the Investment Policy through the most favored Nation Clause in International Investment Agreements The most favored nation clause has attracted much attention in the international investment regime in the past years. The debate has been centered on whether such regulation allows the attraction of more favorable conditions regarding the resolution of controversies. This paper moves away from this debate to analyze another problem that has gained much less attention: the possibility that, through the mentioned clause, more favorable conditions are attracted and included in previously signed treaties. This possibility is of great interest since it could hinder the modification of the investment attraction policies of the States as expressed in their investment treaties. If eventual shifts in the development strategy are desirable, the clause constitutes an obstacle that should be thoroughly examined. Keywords: Most favored nation treatment, foreign investment, development policy, bilateral investment treaties, multilateralism.