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Bilateral investment treaties (BITs) are agreements between two countries that include rules to promote and protect two-way investment between those countries. These investment rules provide protections and greater certainty for Australian investors overseas (and foreign investors in Australia), including provisions to ensure non-discrimination, restrictions on expropriation of an investor’s property, and fair and equitable treatment for investments.
Australia is party to the following bilateral investment treaties:
Australia signed the United Nations Convention on Transparency in Treaty-based Investor-State Arbitration on 18 July 2017, and is working towards ratification. The Convention is an instrument by which Parties to investment treaties concluded before 1 April 2014 express their consent to apply the UNCITRAL Rules on Transparency in Treaty-based Investor-State Arbitration. The Rules on Transparency are a set of procedural rules for making publicly available information on investor-State arbitration arising under investment treaties.