South Africa is not averse to bilateral investment treaties says Dr Rob Davies, minister of trade and industry.

“In fact, if there is a compelling economic or political reason why we need another bilateral investment treaty, we will consider it. But we will do so most likely within an alternative framework, which even the Europeans are talking about.”

“The process of reviewing bilateral investment treaties was not peculiar to South Africa, as many countries in the world are conducting reviews.”

“We have found that there is no correlation between the existence or non-existence of bilateral investment treaty and the flow of direct foreign investment. There are countries with whom we have bilateral treaties, but almost no investment. Conversely, there are countries we have no bilateral treaties with such as Japan. United States of America and India, but we have a significant flow of investment from those countries. Our investment sources are diversified.”

“The South African government has taken the route of a law of general application that will apply to all foreign investments.”