La enmienda del Acuerdo para la promoción y protección recíproca de inversiones de España y Kazajstánprimeras notas de una partitura interpretada bajo la batuta de la Unión Europea

Zusammenfassung

The amendment of the BIT concluded between Spain and Kazakhstan on 23 March 1994, constitutes the first (and almost certainly not the last) realization of Spain’s obligation, as an EU Member State, to eliminate the existing incompatibilities between the extra‐EU BITs and the substantive provisions of EU Law. In order to understand the way in which the amendment to the Agreement has been carried out and the reasons that have prompted Spain to do so, it is necessary to focus on three particularly important elements: the exclusive competence of the Union in matters of foreign direct investment after the adoption of the Lisbon Treaty, three judgments of the Court of Justice, of 2009, which declared the incompatibility between the transfer clauses of several BITs of three Member States and the EU Law and, finally, Regulation 1219/2012 of the European Parliament and of the Council, establishing transitional arrangements for bilateral investment agreements between Member States and third countries.