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International investment law is one of the most dynamic and controversial areas of international law. The topic will be more relevant to New Zealand in the coming years given the likely inclusion of a Chapter on Investment Protection and investor/State arbitration in the future Trans-Pacific Partnership Agreement. This paper will assess the standards of protection of foreign investment, the main features of investor/State arbitration, and some of the most contentious aspects of this field of law: its interactions with the protection of human rights and the environment.

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