Cuban bilateral investment treaties. Actuality and perspectives for local development

Abstract

Bilateral investment treaties signed by the Cuban State contain a set of substantive and procedural standards of mandatory compliance for the contracting parties. Among these is the most favored nation clause, a commitment that obliges the States to grant, both to foreign investors and to their investments, the most favorable treatment fundamentally in material matters. From the analysis of this clause, the main theoretical and normative deficiencies were identified, which could place the State in a situation of vulnerability before an eventual investment arbitration, as well as hinder the management of any local development project with the presence of foreign investment. The objective of this paper is to formulate theoretical assumptions for the improvement of the most favored nation clause of the bilateral investment treaties concluded by Cuba. The methods used were analysis-synthesis, inductive-deductive, historical-legal analysis, theoretical-legal analysis and exegetical-legal analysis. The research was also carried out on the basis of the bibliographical review and the analysis of documents, which allowed the critical analysis and the taking of theoretical positions with respect to the institution studied, which will favor a better management and application of these agreements.