Russian Law Journal

Advanced search

Investment Activities within the Legal Framework of the World Trade Organization

Full Text:


This article contains an analysis of legal regulation of investment activities within the framework of the WTO. It considers factors that promote the establishment of a favorable investment climate, including the availability of special legislation, an efficient law enforcement practice and, as noted by many experts, availability and clarity of the judicial mechanism for the protection of violated rights. Recent foreign experience is analyzed and some issues of investment dispute settlement are considered. The article also deals with issues concerning the formation of competitive relations that, in their turn, also constitute an important factor of a state’s investment appeal.

Investment activities constitute a popular type of entrepreneurial activity. Every state, regardless of where it is located or its level of economic development, aims to increase its investment activities and raise foreign investment inflow. To do this they adopt national regulatory acts and sign bilateral agreements, multilateral agreements, and execute international legal acts in the area of investment activities. This results in the need for examination of legal regulation in this area. Russia joining the WTO has resulted in regular revisions of current legal regulation, in particular in the law on foreign investments.

About the Authors

Gulnara Ruchkina
Financial University under the Government of the Russian Federation
Russian Federation

Dean of the Law Faculty,

49 Leningradsky av., Moscow, 125993

Evgeny Vengerovsky
Financial University under the Government of the Russian Federation
Russian Federation

Ph.D. Student at Department for Entrepreneurial and Corporate Law,

49 Leningradsky av., Moscow, 125993


1. August, Ray. International Business Law: Text, Cases, and Readings (4th ed., Prentice Hall 2004).

2. Braun, Tillmann R. Investment Protection under the WTO Law– New Developments in the Aftermath of Cancún (= 28 Beiträge zum Transnationalen Wirtschaftsrecht) (Christian Tietje et al., eds.) (Martin-Luther-Universität 2004), available at <> (accessed Dec. 10, 2015).

3. Collins, David A. ANew Role for the WTO in the International Investment Law: Public Interest in the Post-Neoliberal Period, 25 Conn. J. Int’l L. 1 (2009), available at <> (accessed Dec. 10, 2015).

4. Kurtz, Jürgen. The Use and Abuse of WTO Law in Investor-State Arbitration: Competition and Its Discontents, 20(3) Eur. J. Int’l L. (2009), available at <> (accessed Dec. 10, 2015). doi:10.1093/ejil/chp040

5. Lloyd, Peter J. Multilateral Rules for International Competition Law, 21(8) The World Economy 1132 f. (1998). doi:10.1111/1467-9701.00185

6. Peter, Wolfgang. Arbitration and Renegotiation of International Investment Agreements (2nd ed., Kluwer Law International 1995).

7. Report on Condition of Competition in the Russian Federation 2013, Ch. 4: Analysis of Condition of Competition on Certain Goods Markets and in Certain Areas of Economy 323–24, Federal Antimonopoly Service of the Russian Federation (May 30, 2014), <> (accessed Dec. 4, 2015).

8. Крупко С.И. Инвестиционные споры между государством и иностранным инвестором [Krupko S.I. Investitsionnye spory mezhdu gosudarstvom i inostrannym investorom [Svetlana I. Krupko, Investment Disputes between State and Foreign Investors]] (BEK 2002).

9. Ручкина Г.Ф. Государственный контроль за законностью осуществления предпринимательской деятельности // Государственная власть и местное самоуправление. 2005. № 7 [Ruchkina G.F. Gosudarstvennyi kontrol’ za zakonnost’yu osushchestvleniya predprinimatel’skoi deyatel’nosti // Gosudarstvennaya vlast’ i mestnoe samoupravlenie. 2005. No. 7 [Gulnara F. Ruchkina, State Control of Legal Implementation of Entrepreneurial Activities, 2005(7) State Authority and Local SelfRegulation]].


For citation:

Ruchkina G., Vengerovsky E. Investment Activities within the Legal Framework of the World Trade Organization. Russian Law Journal. 2015;3(4):124-149.

Views: 1242

ISSN 2309-8678 (Print)
ISSN 2312-3605 (Online)