确定性与平衡性的寻求与失落——从埃科奥罗案看新一代投资条约的解释和适用  

Quest for and Loss of Certainty and Balance in Interpretation and Application of New-Generation Investment Treaties in Light of Eco Oro v.Colombia Case

作　　者：王彦志[1] Wang Yanzhi

机构地区：[1]吉林大学法学院

出　　处：《国际法研究》2025年第1期72-89,共18页Chinese Review of International Law

基　　金：教育部繁荣计划项目“涉外法治与人权的跨国实现研究”(SKZ2021219)的阶段性成果。

摘　　要：老一代投资条约规定了模糊宽泛的公平公正待遇、间接征收等实体条款,其解释和适用存在不确定性和不平衡性,偏向于保护外国投资,忽视了东道国的正当公共政策目标规制权。2001年以后兴起的新一代投资条约限定和澄清了投资保护条款,明确和强化了东道国规制权保障条款,尤其是限定和澄清了间接征收和公平公正待遇条款,且订入了具有《1994年关税与贸易总协定》第20条风格的一般例外条款,旨在实现投资条约解释和适用的确定性与平衡性。然而,新一代投资条约的实际效果尚有待裁判实践予以检验和评估。埃科奥罗诉哥伦比亚案是基于美国、加拿大模式的新一代投资条约的典型案例。该案仲裁庭继续宽泛且不确定地解释新一代投资条约的间接征收和公平公正待遇条款,否定了一般例外条款的实际效果。该案裁决表明,美国、加拿大模式及其影响下的新一代投资条约未能有效约束和指导仲裁庭的条约解释和适用,未能有效实现投资条约解释和适用的确定性与平衡性。为此,需要进一步反思和调整新一代投资条约的解释和适用,改进和澄清间接征收、公平公正待遇、一般例外等实体条款,明确和强化东道国规制权保障条款。The old-generation investment treaties stipulate vague and broad substantive investment protection provisions such as fair and equitable treatment and indirect expropriation,whose uncertain and unbalanced interpretation and application tend to favor foreign investment over host state.This poses a legitimacy crisis for the investment treaty and arbitration.The new-generation investment treaties that emerged after 2001 limit and clarify substantive investment protection provisions,and strengthen provisions safeguarding the regulatory right of host state so as to achieve the certainty and balance in investment treaties interpretation and application.The new-generation investment treaties limit and clarify indirect expropriation and fair and equitable treatment provisions,and stipulate the GATT-style general exceptions provisions.However,the practical effects of the new-generation investment treaties remain to be tested and evaluated by adjudicative practice.Eco Oro u.Colombia is a typical case based on the newgeneration investment treaties influenced by the American and Canadian models.The tribunal in this case continued to interpret and apply indirect expropriation and fair and equitable treatment provisions in the new-generation investment treaties in a broad and uncertain way,and denied any practical effect of the general exceptions provision.The award in this case indicates that the new-generation investment treaties have failed to effectively constrain and guide the interpretation and application by arbitral tribunals,and have failed to achieve the certainty and balance of the new-generation investment treaties and their interpretation and application.Therefore,it is necessary to further reflect and improve the tribunals'interpretation and application,improve and clarify substantive provisions such as indirect expropriation,fair and equitable treatment and general exceptions,and clarify and strengthen the provisions safeguarding the host state's regulatory rights.

关 键 词：新一代投资条约 埃科奥罗案 间接征收 公平公正待遇 一般例外 条约解释和适用 

分 类 号：D92[政治法律—法学]