Research On The Legal Issues Of CJK Investment Agreement

The negotiations of China-Japan-Korea(CJK) investment agreement lasted five years andended in2012, and the signment of《Agreement among the Government of Japan, theGovernment of the Republic of Korea and the People’s Republic of China for the promotion,facilitation and protection of investment》indicated that cooperation between the threecountries will open a new chapter in the development of deeper. Up to now, no bilateral ormultilateral free trade agreement was signed in Northeast Asia, which is not commensuratewith the status of the region in the global economy. Facing the development trend ofinternational economic, international industrial transfer and the division of labor andinternational economic restructuring, at the meanwhile of the signment, they determined tobegine the negotiations of CJKFTA. It is a rare opportunities, but also is a challenge for Chinain the period of economic restructuring. The negotiations of CJKFTA is on the schedule now,it was attentioned by the world,and seemed necessary in the regional integration of the worldeconomy.This paper select to research the text of CJK Investment Agreement, hope to;earn moreabout fair and equitable treatment, safety exception clause, the dispute settlement mechanismof the three legal issues to deepen understanding of the provisions of the agreement.Compared with other bilateral investment treaty (BIT) or the investment rules of free tradeagreements and give some suggestions on the problems of legislation in China.The first part describes the background and the text of CJK Investment Agreement,including the status quo of investment between CJK, the main content of the text of theagreement, and the relationship with the BITs between the three countries. The Agreementwas devided into the definition of the terms, substantive rules, procedural rules andexceptions, to grasp the entire text from a macro point.The second part describes the legal issue of fair and equitable treatment, start at the basicconcepts and the evolution of fair and equitable treatment, made a more detailed discussionon the standards of treatment by case studying, combined with our current legislative practice,pointed out the peak points and make suggestions.The third part begined with the problems on the arbitration and compensation of securityexception in the field of international investment law,deepened their understanding of the concept and function, and combined with the complex relationships between the relevantprovisions and the fact of the three countries.It devided "essential security interests" into theeconomic security interests and the division of economic security interests.The last part discussed the dispute settlement mechanism on investment, focusing on theinterpretation of the dispute settlement between a contracting party and an investor of anothercontracting party, highlighted the importance of international arbitration, and gave somesuggestions on the problems in China.