Nowadays, with the development of international economy, international investment has become one of the most important ways to prompt global economic development. The number of the bilateral treaties (BITs) and multilateral treaties are increasing as well. These treaties are an important basis for resolving disputes between investors in international arbitration. Many treaties contain a sunset clause. In the field of international law, the use and utility of sunset clauses has remained largely unnoticed despite the fact that they have been employed in major international treaties and agreements.  Nowadays, such clauses have become a core feature in international investment agreements, playing an underappreciated role with the ability to enhance legal certainly in regards to the tension between stability and flexibility. Moreover, sunset clauses complement the protection to investors with the entrenchment effect.  But meanwhile, as one of the important economic entities in the global economic development, the European Union (EU) is trying to terminate all intra-EU BITs, as well as the sunset clauses which contained in the BITs.  This thesis analyse the impact of the sunset clause on intra-EU arbitration after the EU members terminated their intra-EU BITs. Trying to clarify the nature and the utility of the sunset clause in EU law, and try to disengage from the entrenchment effect of the sunset clause at EU and international level.

The relationship between international investment agreements and EU law has attracted increased attention in past few years. The aim of this thesis is to bring a detailed analysis of various aspects of this complicated relationship. In attainment of this aim it proceeds in the following steps. After a short introduction (Chapter I.), Chapter II. briefly overviews typical content of bilateral investment treaties, following with a more detailed analysis of relevant EU law rules concerning foreign investment and subsequent comparison of both sets of rules. Chapter III. deals with investment agreements to be concluded by the EU, in particular with questions of external competence for foreign investment, responsibility for breaches of investment agreements concluded by the EU and the future shape of EU investment policy. The status of existing bilateral investment treaties concluded between EU member states and third countries is analyzed in Chapter IV. Chapter V. tackles various issues related to investment treaties concluded between member states (so called intra-EU BITs).

Investment Policy of the European Union - protection of foreign direct investment Abstract One of the changes brought about by the Lisbon Treaty is the explicit inclusion of foreign direct investment and its protection in the common commercial policy of the European Union. This is one of the areas of exclusive competence of the EU. The European Union has subsequently stated negotiating bilateral agreements governing, inter alia, investment issues. However, it has not been spared from controversy and negative publicity that has been accompanying especially the TTIP and the CETA. This work aims to analyse the investment policy of the EU and mutual interaction of its institutions with the Member States and third parties. After general introduction to the topic of international investment law and EU law (chapters II. and III.), it is devoted to the issue of protection of foreign investment in the internal market. Its regime is then compared with the BIT regime (chapter IV.). Attention is then focussed towards the EU's external relations in the field of investment protection. Its competence is subjected to further analysis (chapter V.) and current results of efforts of the Commission and the EU as such are also discussed (chapter VI.). It is so in the light of possible impacts of foreign investment in terms of...