Protecting Investments under the BRICS Umbrella

BRICS is a dynamically developing platform for foreign direct investment (FDI). According to the United Nations Conference on Trade and Development (UNCTAD), FDI flows between the BRICS countries grew sixfold over the course of ten years. However, these numbers do not cover the past two years, and no figures are available for the countries that joined the association in 2024. Approximately twenty agreements on investment promotion and protection are currently in force in the BRICS zone and, given the lack of unified BRICS regulation in this area, they form the basis for structuring new investments and resolving disputes related to ongoing projects. However, the majority of these agreements were concluded in the late 20th or early 21st centuries and do not take recent developments into account. Moreover, there are no such bilateral agreements in effect as of now. In addition, countries are taking different approaches to investor protection standards and alternative dispute resolution. What does international legal cooperation in investment protection between BRICS countries look like? What obstacles do investors encounter when implementing projects in the BRICS countries? What specific features need to be taken into account? What measures do countries take to resolve disputes related to foreign investments? What role can arbitration bodies in the BRICS countries play in protecting investors?