The National Treatment Obligation

The national treatment obligation is generally enshrined in contemporary international investment agreements, but its arbitral application does not unveil a coherent interpretative framework. As will be demonstrated by the analysis of the relevant case-law, every arbitral tribunal gives his personal reading of any single requirement of the clause (such as the “likeness”, for instance). Moreover, contrary to other standards, such as fair and equitable treatment and full protection and security, claims made under national treatment obligation are often dismissed by arbitrators. Notwithstanding these aspects, the present contribution is aimed at investigating the reasons behind the prudent approach of the arbitral tribunals toward national treatment, and even through a comparison with the similar provisions couched in GATT and GATS