Acknowledgments v Table of Cases xi Table of Legislation xix Abbreviations xvii 1 Introduction: EU Legal Integration in the Field of Foreign Direct Investment 1 (22) I Setting the Scene: European Integration and FDI 2 (4) II European FDI Policies and the Liberalisation of FDI 6 (3) III European Integration and Investment Protection 9 (3) IV Definitions of FDI in Different Types of International Instruments 12 (5) V International Rule-making in the Field of FDI 17 (3) VI Scope and Structure of this Study 20 (3) 2 The Operation of the Internal Market Mechanism in relation to Direct Investment 23 (44) I Internal Market Integration in the Field of Direct Investment 24 (12) A Terminology and Integrative Strategy 24 (6) B External Dimension of Articles 49/54 and 63 TFEU 30 (6) II Admission of Third-Country Direct Investment Into the Single Market and Issues of Demarcation between Articles 49/54 and 63 TFEU 36 (14) A A Protection-based Approach in the Application of Articles 49/54 and 63 TFEU? 36 (6) B `Centre of Gravity' Approach in the Application of Articles 49/54 and 63 TFEU 42 (8) III Post-Establishment Treatment of Third-Country Direct Investment in the Single Market 50 (15) A Rights of Intra-EU Mobility for Third-Country Direct Investors as Distinguished from their Participation in the Internal Economy of one of the Member States 51 (6) B Scope for Inconsistencies between Article 49/54 TFEU and Relevant Union and Member State Treatment 57 (8) IV Conclusion 65 (2) 3 The Lisbon Reform of the Common Commercial Policy: Implications for Union Competence and Practice in the Field of FDI 67 (70) I Union External Competence in the Field of FDI Before and After Lisbon 68 (22) A Limited Community Competence in the Field of FDI under the Pre-Lisbon Provisions on the CCP 68 (5) B Alternative Legal Bases for Assuming Commitments with Third Countries in the Field of FDI 73 (5) C The Lisbon Reform of the Provisions on the CCP as regards FDI 78 (12) II Implications of the Lisbon Reform of the CCP for the Union's Treaty-making Practice in the Field of FDI 90 (30) A Pre-Lisbon External Practice in the Field of FDI 90 (10) B Union Treaty-making Practice in the Field of FDI in the Post-Lisbon Era 100 (20) III The Lisbon Reform of the CCP and Inward FDI into the Single Market 120 (15) A The Common International Investment Policy and the Initial Establishment of Third-Country Direct Investors in the Single Market 120 (8) B The Common International Investment Policy and Secondary Rights of Mobility for Third-country Direct Investors in the Single Market 128 (7) IV Conclusion 135 (2) 4 The Interplay between EU Law and Member State Bilateral Investment Agreements with Third Countries 137 (50) I Member State Practice of Concluding BITs and their Substantive Interaction with EU Law 138 (12) A Historical Background to the Conclusion of BITs by the Member States 138 (5) B Substantive Interaction of Member State External BITs with EU Law 143 (7) II The EU Legal Framework that Governs the Interplay between EU Law and Member State BITs with Third Countries 150 (16) A Pre-accession BITs and Article 351 TFEU 151 (9) B EU Law and Post-accession BITs 160 (6) III Post-Lisbon Developments with Regard to the Member States' Practice of Concluding BITs with Third Countries 166 (19) A The Replacement Mechanism under Regulation 1219/2012 for Existing Member State BITs with Third Countries 167 (12) B Issues Pertaining to the Need for Authorisation to Amend Existing BITs or to Conclude New BITs 179 (6) IV Conclusion 185 (2) 5 The Interplay between EU Law and Intra-EU Bilateral Investment Agreements 187 (64) I Historical Background to the Phenomenon of Intra-EU BITs 188 (5) II The EU Legal Order and Investment Protection 193 (17) A The TFEU Freedoms and Investment Protection 194 (3) B The EU Fundamental Right to Property 197 (7) C The Protection of `Legitimate Expectations' in the EU Legal Order 204 (6) III EU Law and Intra-EU BITs: Constitutional Aspects 210 (13) The Validity of Intra-EU BITs is Not in Issue 210 (4) B The Operation of the Principle of Primacy in Relation to Intra-EU BITs 214 (9) IV Intra-EU BITs and the EU Principle of Equal Treatment 223 (14) A Dispute Settlement under Intra-EU BITs and MFN Treatment 224 (5) B Dispute Settlement under Intra-EU BITs and NT 229 (8) V Investor-State Arbitration under Intra-EU BITs and the Autonomy of the EU Legal Order 237 (12) A The Autonomy of the EU legal order 237 (7) B EU Law in Investor-State Arbitration under Intra-EU BITs 244 (5) VI Conclusion 249 (2) 6 Conclusion 251 (12) I The Union's Post-Lisbon FDI Competence and its Exercise 252 (2) II The Internal Market Freedoms and Inward FDI 254 (3) III EU Law and Member State BITs 257 (3) IV Future Direction of EU Legal Integration in the Field of FDI 260 (3) Bibliography 263 (14) Index 277