This chapter introduces the four BRIC states, namely Brazil, Russia, India and China, as well as the concept of outward foreign direct investment (FDI). These four BRIC states became the leading global economic factors in the 21st century. They are now symbolic of the modern concept of globalisation. The regulation of outward FDI in services involves a complex interplay of national, regional, and multilateral rules. Outward FDI can decrease the one-sidedness of globalisation. FDI also brings capital, skills, and technology that nations need to prove and sustain competitive industries. The various bilateral and regional agreements that contain provisions regarding the protection of investments are the most vital means of regulating outward FDI. The substance of Multilateral Agreement on Investment in Services (MAIS) highlights the common elements of the BRICs multilateral commitments.
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