Abstract and Keywords
This article offers an overview of transparency, which is the fundamental principle in the international economic field. It begins with a discussion of the significance of the concept in the investment field, asking why transparency is being increasingly characterized as a fundamental principle and considering why it was neglected for a long time. It then goes on to review the development of specialized transparency obligations in more recent international investment agreements and highlights their principal features. This article analyses the interrelationship between the transparency obligations of the state and the principle of fair and equitable treatment, taking into account developments in international investment arbitrations in this regard. Finally, it concludes by considering the role that transparency has to play in investment protection more generally.
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