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The First Bilateral Investment TreatiesU.S. Postwar Friendship, Commerce, and Navigation Treaties$
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Kenneth J. Vandevelde

Print publication date: 2017

Print ISBN-13: 9780190679576

Published to Oxford Scholarship Online: April 2017

DOI: 10.1093/acprof:oso/9780190679576.001.0001

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The FCN Treaties Become Investment Treaties

The FCN Treaties Become Investment Treaties

(p.179) 5 The FCN Treaties Become Investment Treaties
The First Bilateral Investment Treaties

Kenneth J. Vandevelde

Oxford University Press

Wanting to sound a memorable theme in his 1949 inaugural address, President Truman adopted as “Point Four” of his address a proposal from a mid-level State Department official that the United States promote economic development in other countries through the provision of technical assistance and the encouragement of foreign investment. To implement the Point Four program, the State Department considered the negotiation of bilateral treaties addressing solely investment protection, but then decided that FCN treaties would serve as the desired bilateral investment treaties. Drawing on its evolving post–foreign investment policy statement and on experience with the ITO Charter, the State Department strengthened the investment protection provisions of the FCN treaties, through the inclusion of new provisions on fair and equitable treatment, unreasonable or discriminatory treatment, and exchange controls. The new language was incorporated into treaties with Colombia, Uruguay, and Ireland.

Keywords:   Point Four, economic development, bilateral investment treaty, investment protection, fair and equitable, unreasonable treatment, discriminatory treatment, Colombia, Uruguay, Ireland

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