Bilateral Investment Treaties and ISDS in Azerbaijan and Central Asia

This article explores the evolution of Bilateral Investment Treaties (BITs) and Investor-State Dispute Settlement (ISDS) practices in Azerbaijan and Central Asian countries. It offers a comparative analysis of treaty frameworks, highlighting shared features such as investor protections, ISDS access, and expropriation safeguards. Drawing on legal texts and recent reform efforts, the paper identifies structural weaknesses—particularly vague standards and limited regulatory space. It concludes with policy recommendations for modernizing BITs in line with sustainable development goals, UNCITRAL reform, and ESG considerations. The study contributes to the emerging literature on investment law in post-Soviet legal systems.