| 释义 |
bilateral investment treaty
(BIT) An investment treaty between two states, as distinct from a multilateral investment treaty (MIT) between three or more. The use of BITs has gained popularity since the 1990s, especially among developing countries looking to secure foreign direct investment. The growth of a global network of such treaties has helped to establish a stable legal system of protection for foreign investors, and this in itself has been a factor in attracting investment to poorer countries. However, more recently the United Nations Conference on Trade and Development reported a decline in the number of new BITs being entered into, with developing countries increasingly preferring regional agreements. See also umbrella clause. |