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.

Modernising Australia’s bilateral investment treaties

In November 2022, Minister for Trade and Tourism, Senator the Hon. Don Farrell announced the Government’s policy not to include investor-State dispute settlement (ISDS) mechanisms in any new trade agreements and to take opportunities to reform existing BITs and ISDS mechanisms, to enhance transparency and consistency and to strengthen the Government’s ability to regulate in the public interest. 
Consistent with this policy, in November 2024 the Government concluded a new BIT with the UAE which did not contain ISDS while providing important protections for investors.

Call for Submissions – Argentina, Pakistan and Türkiye

DFAT has commenced preliminary consultations with Argentina, Pakistan and Türkiye with a view to renegotiating our older-style bilateral investment treaties with these countries. We seek to modernise these BITs, to remove or reform ISDS provisions, and strengthen capacity to regulate in the public interest while ensuring adequate protection and facilitation of bilateral investment.

In relation to the renegotiation of our BITs with Argentina, Pakistan and Türkiye, the Department is calling for submissions from interested stakeholders by 14 March 2025.

The Department will continue to seek opportunities with other investment partners to reform and modernise existing bilateral investment arrangements.

United Nations Convention on Transparency in Treaty-based Investor-State Arbitration

Australia ratified the United Nations Convention on Transparency in Treaty-based Investor-State Arbitration on 17 September 2020. The Convention is an instrument by which the Parties consent to the application of the UNCITRAL Rules on Transparency in Treaty-based Investor-State Arbitration to investment treaties concluded prior to 1 April 2014. The Rules on Transparency are a set of procedural rules for making information on investor-State arbitration arising under investment treaties publicly available. The Convention entered into force for Australia on 17 March 2021, and applies to Australia's network of older-style investment treaties, in accordance with its provisions.

Bilateral investment treaties currently in force

Australia is party to the following bilateral investment treaties.

Argentina (Date of entry into force: 11 January 1997)

Agreement between the Government of Australia and the Government of the Argentine Republic on the Promotion and Protection of Investments, and Protocol

China (Date of entry into force: 11 July 1988)

Agreement between the Government of Australia and the Government of the People's Republic of China on the Reciprocal Encouragement and Protection of Investments

Czech Republic (Date of entry into force: 29 June 1994)

Agreement between Australia and the Czech Republic on the Reciprocal Promotion and Protection of Investments

Egypt (Date of entry into force: 5 September 2002)

Agreement between the Government of Australia and the Government of the Arab Republic of Egypt on the Promotion and Protection of Investments

Hungary (Date of entry into force: 10 May 1992)

Agreement between Australia and the Republic of Hungary on the Reciprocal Promotion and Protection of Investments

Laos (Date of entry into force: 8 April 1995)

Agreement between Australia and the Lao People's Democratic Republic on the Reciprocal Promotion and Protection of Investments

Lithuania (Date of entry into force: 10 May 2002)

Agreement between the Government of Australia and the Government of the Republic of Lithuania on the Promotion and Protection of Investments

Pakistan (Date of entry into force: 14 October 1998)

Agreement between Australia and the Islamic Republic of Pakistan on the Promotion and Protection of Investments

Papua New Guinea (Date of entry into force: 20 October 1991)

Agreement between the Government of Australia and the Government of the Independent State of Papua New Guinea for the Promotion and Protection of Investments

Philippines (Date of entry into force: 8 December 1995)

Agreement between the Government of Australia and the Government of the Republic of the Philippines on the Promotion and Protection of Investments, and Protocol

Poland (Date of entry into force: 27 March 1992)

Agreement between Australia and the Republic of Poland on the Reciprocal Promotion and Protection of Investments

Romania (Date of entry into force: 22 April 1994)

Agreement between the Government of Australia and the Government of Romania on the Reciprocal Promotion and Protection of Investments

Sri Lanka (Date of entry into force: 14 March 2007)

Agreement between the Government of Australia and the Government of the Democratic Socialist Republic of Sri Lanka on the Promotion and Protection of Investments

Türkiye (Date of entry into force: 29 June 2009)

Agreement between Australia and the Government of the Republic of Turkey on the Reciprocal Promotion and Protection of Investments

Uruguay (Date of entry into force: 23 January 2022)

Agreement between Australia and Uruguay on the Promotion and Protection of Investments

This agreement replaces the Agreement between Australia and Uruguay on the Promotion and Protection of Investments.

Investment Agreements concluded alongside an FTA

Hong Kong (Date of entry into force: 17 January 2020)

Investment Agreement between the Government of Australia and the Government of the Hong Kong Special Administrative Region of the People’s Republic of China

United Arab Emirates (Signed: 6 November 2024 – Not yet in force)

Agreement between Australia and the UAE on the Promotion of Investments

Treaties terminated

Hong Kong (Date of entry into force: 15 October 1993. Date terminated: 17 January 2020)

Agreement between the Government of Hong Kong and the Government of Australia on the Promotion and Protection of Investments

Australia and Hong Kong agreed to terminate this Agreement (along with its 15 year survival clause contained in Article 14) upon entry into force of the Investment Agreement between the Government Australia and the Government of the Hong Kong Special Administrative Region of the People’s Republic of China (the AU-HK Investment Agreement) which entered into force on 17 January 2020. Protections for Australian investors in Hong Kong and Hong Kong investors in Australia are available under the AU-HK Investment Agreement. Further details can be found on the AU-HK Investment Agreement page.

India (Date of entry into force: 4 May 2000. Date terminated: 23 March 2017)

Agreement between the Government of Australia and the Government of the Republic of India on the Promotion and Protection of Investments

The Agreement was unilaterally terminated by India on 23 March 2017. The provisions of the Agreement will continue to apply to investments made on or before 22 March 2017 for a period of 15 years from the date of termination of the Agreement. Investments made on or after 23 March 2017 will not be covered by the Agreement.

Indonesia (Date of entry into force: 29 July 1993. Date terminated: 6 August 2020)

Agreement between the Government of Australia and the Government of the Republic of Indonesia concerning the Promotion and Protection of Investments

Australia and Indonesia agreed to terminate this Agreement (along with its 15 year survival clause contained in Article XV) upon entry into force of the Exchange of letters terminating the Agreement between the Government of Australia and the Government of the Republic of Indonesia concerning the Promotion and Protection of Investment [PDF], which was signed on 6 February 2020. The Exchange of Letters entered into force on 6 August 2020. Protections for Australian investors in Indonesia and Indonesian investors in Australia are available under IA-CEPA, which entered into force on 5 July 2020.

Mexico (Date of entry into force: 21 July 2007. Date terminated: 30 December 2018.)

Agreement with the Government of the United Mexican States on the Promotion and Reciprocal Protection of Investments, and Protocol

Australia and Mexico agreed to terminate this Agreement, subject to transitional arrangements, upon entry into force of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) as between Australia and Mexico. Further details can be found on the CPTPP text and associated documents page, specifically the 'Agreement between Australia and Mexico regarding Termination of Investment Promotion and Protection Agreement'.

Peru (Date of entry into force: 2 February 1997. Date terminated: 11 February 2020.)

Agreement between Australia and the Republic of Peru on the Promotion and Protection of Investments, and Protocol

Australia and Peru have agreed to terminate this Agreement upon entry into force of the Peru-Australia Free Trade Agreement (PAFTA), subject to transitional arrangements. Further details can be found on the PAFTA text and associated documents page. PAFTA entered into force on 11 February 2020.

Vietnam (Date of entry into force: 11 September 1991. Date terminated: 14 January 2019.)

Agreement between Australia and the Socialist Republic of Vietnam on the Reciprocal Promotion and Protection of Investments

Australia and Vietnam agreed to terminate this Agreement, subject to transitional arrangements, upon entry into force of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) as between Australia and Vietnam. Further details can be found on the CPTPP text and associated documents page, specifically the 'Agreement between Australia and Viet Nam to maintain TPP bilateral agreements' and 'Australia – Viet Nam: Termination of Investment Promotion and Protection Agreement'.