Book Review Symposia

As the author explains in the foreword, this book intends to explore the principles, policies and practice in international investment law across the world and to foster greater study interests of students in the field. Unlike other textbooks that focus solely on investment protection in international law, this book brings an under-explored perspective from developing countries, in particular from Nigeria.

The book (International Investment Law: National, Regional and Global Perspectives) examines the principles and practices of international investment law in the light of international law. The book is situated within the prevailing dynamics of international investment law and policy that are underpinned by competing interests of the host States and foreign investors.

I am delighted to present this symposium for my textbook entitled: International Investment Law: National, Regional and Global Perspectives (Wolf Legal Publishers, Nijmegen, the Netherlands: 2020). The textbook could not have come at a better time given the compelling need for scholars from the Global South, particularly Africa, to contribute to international investment law scholarship to help reshape and redefine international investment law for the mutual advantages of foreign investors/enterprises and the host States.

In this book, the author took the interdisciplinary approach to explore the application of the FET clause in the IIAs between developed and developing countries as well as its subsequent effects on the socio-economic context of the developing state. The main aim of this book as stated in p. 171 is to re-conceptualize the FET clause from the perspective of the host States with comprehensive consideration of their social, political, and economic conditions.

Probably buoyed by its relatively open-ended nature, the fair and equitable standard (FET) of protection of foreign investors has become a much more invoked arsenal than the claim of direct or indirect expropriation. As Professor Sornarajah notes in his foreword to the book, very few scholars have dealt with the impact that the relatively opaque, if not expansive interpretations of the FET standard by arbitrators has had on the host States, particularly those from the global South. Professor Rumana Islam’s work is a notable exception to this.

The book flees from a Manichean vision of international investment law. It is not written against foreign investors and in favor of developing States. With a scientific caution, the author reflects on how bridges can be built between these two actors with the aim of upholding development priorities without undermining investors’ protection — thereby hinting at a fair and equitable treatment for host developing States

The overarching argument made in the book is that there is a pressing need to reconceptualize the interpretation of the FET standard, taking into account the particular developmental circumstances of the developing countries in investor-State disputes. The book explores these challenges and issues that the developing countries face arising from overly broad interpretations of the FET standard.

The ANRC's volume on 'Rethinking Land Reforms in Africa: new ideas, opportunities and challenges' delivers what it promises: a diverse and stimulating compilation of perspectives over the relationship between land and the socio-economic conditions of people in Sub Saharan Africa. Its main merits are the reclamation of the political nature of land, the combination of academic and non-academic contributors who break with the monotone and hyper-specialized vocabulary that tend to monopolize conversations around land reforms, and the variety of topics and perspectives (including in disagreement).

In my view, land reform ideas, opportunities and challenges should be informed directly by people depending on land and fighting for different social relations: rural women, rural movements, farm workers, urban land occupiers, shack dwellers, and smallholder farmers. Without listening to them, land reform will not result in just societies.

The volume's contribution do well in facilitating the reader's understanding of the broad range of legal and practical intricacies of land reform and land rights, including chapters that examine commercial incentives for land vis-a-vis the security of rural land rights (Chapter 4 by Lorenzo Cotula), shifting policy paradigm (Chapter 7 by Howard Stein) property transfer taxes (Chapter 8 by Riel Franzsen), and the role of women in land reform (Chapter 11 by Eugene Chigbu) among other topics.