"International investment arbitration is one of the fastest growing areas of international dispute resolution." Investor-state arbitration involves the settlement of disputes arising out of international investment agreements, which are treaties formed between States for the reciprocal encouragement, promotion, and protection of investments. Presently, there are more than 2,500 international investment agreements in force around the world. These agreements take different forms, including bilateral investment treaties, double taxation treaties, and other bilateral and regional trade and investment agreements containing commitments to liberalize, protect, or promote investment.
Kristin Miller, The Future of Investor-State Arbitration: Greater Transparency on the Horizon for UNCITRAL Rules, 3 602 (2011).