Government ministers from around the world met at a panel discussion to discuss the issues surrounding IIAs and Bilateral Investment Treaties (BITs).

Robin Hunter, a partner at law firm Hogan Lovells, expressed a degree of disappointment that more progress had not been made.

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He said: “There was no real degree of conclusiveness. It all felt rather fragmented, but I guess this should not be much of a surprise.”

While the number of bilateral relationships is increasing, participants on the panel differed on definitions of basic investment concepts.

IIAs have come under increasing focus with the rise of larger transitional economies of Asia and Latin America and their development into significant exporters and importers.