Vol. 1 No. 4 (2026), Articles
Vol. 1 No. 4 (2026)

INTERPRETATION OF THE MOST FAVOURED NATION (MFN) CLAUSE IN MODERN ARBITRATION: CONFLICTS OF INTERPRETATION AND METHODOLOGICAL ISSUES

Articles
Published 2026-04-30
Shoxsanam Quronboyeva
Master’s Student, International Commercial Law Tashkent State University of Law
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Keywords

MFN clause, investment arbitration, interpretation conflict, ejusdem generis, procedural rights, substantive rights, ICSID, BIT, Vienna Convention, Investment legislation of Uzbekistan.

How to Cite

Quronboyeva , S. (2026). INTERPRETATION OF THE MOST FAVOURED NATION (MFN) CLAUSE IN MODERN ARBITRATION: CONFLICTS OF INTERPRETATION AND METHODOLOGICAL ISSUES. INTERNATIONAL CONFERENCE ON SCIENCE, INNOVATION AND GLOBAL DEVELOPMENT, 1(4), 275-284. https://doi.org/10.5281/zenodo.19969733
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Abstract

This thesis analyzes methodological challenges concerning the interpretation of the Most Favored Nation (MFN) clause in international investment arbitration. The research examines the scope of MFN application to substantive and procedural rights, specifically focusing on its impact on dispute settlement procedures. Based on the Maffezini and Plama precedents, the study explores the nature of interpretational conflicts and the methodological role of the Vienna Convention and the ejusdem generis principle. Finally, practical recommendations are provided regarding the Bilateral Investment Treaties (BITs) and the 2019 Investment Law of the Republic of Uzbekistan.

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References

1. Vienna Convention on the Law of Treaties, 23 May 1969. 1155 UNTS 331. Art. 31–33.

2. General Agreement on Tariffs and Trade (GATT). Art. I:1 (1947). 55 UNTS 194.

3. Energy Charter Treaty (1994). 2080 UNTS 100.

4. CETA — Comprehensive Economic and Trade Agreement between Canada and the EU (2016). Art. 8.7(4).

5. India Model Bilateral Investment Treaty (2015). Art. 4 (MFN — exclusion of procedural matters).

6. ASEAN Comprehensive Investment Agreement (2009). Art. 6.

7. O'zbekiston Respublikasining "Investitsiyalar va investitsiya faoliyati to'g'risida"gi Qonuni. 25.12.2019, O'RQ-598-son. 7-modda.

8. O'zbekiston–Germaniya ikki tomonlama investitsiya shartnomasi (2000). 3(1)–3(2)-moddalar.

9. O'zbekiston–Fransiya ikki tomonlama investitsiya shartnomasi.

II. ICSID va boshqa arbitraj qarorlari

10. Emilio Agustín Maffezini v. The Kingdom of Spain. ICSID Case No. ARB/97/7. Decision on Jurisdiction, 25 January 2000. 5 ICSID Reports 396.

11. Plama Consortium Limited v. Republic of Bulgaria. ICSID Case No. ARB/03/24. Decision on Jurisdiction, 8 February 2005. 13 ICSID Reports 272.

12. Siemens A.G. v. The Argentine Republic. ICSID Case No. ARB/02/8. Decision on Jurisdiction, 3 August 2004.

13. Salini Costruttori S.p.A. v. The Hashemite Kingdom of Jordan. ICSID Case No. ARB/02/13. Decision on Jurisdiction, 29 November 2004.

14. Telenor Mobile Communications A.S. v. The Republic of Hungary. ICSID Case No. ARB/04/15. Award, 13 September 2006.

15. RosInvestCo UK Ltd. v. The Russian Federation. SCC Case No. V 079/2005. Award on Jurisdiction, October 2007.

16. Garanti Koza LLP v. Turkmenistan. ICSID Case No. ARB/11/20. Decision on Objection to Jurisdiction, 3 July 2013.

III. Xalqaro tashkilotlar hujjatlari

17. UNCTAD. (2015). Most-Favoured-Nation Treatment. UNCTAD Series on Issues in International Investment Agreements II. UN Doc. UNCTAD/DIAE/IA/2010/1.

18. UNCTAD. (2023). Investment Policy Framework for Sustainable Development (3rd ed.). Geneva: UNCTAD.

19. International Law Commission (ILC). (1978). Draft Articles on Most-Favoured-Nation Clauses with Commentaries. Yearbook of the ILC, Vol. II, Pt. 2, pp. 16–73.

IV. Ilmiy adabiyotlar

20. Dolzer, R., & Schreuer, C. (2012). Principles of International Investment Law (2nd ed.). Oxford: OUP. Ch. 6.

21. Schill, S. W. (2009). The Multilateralization of International Investment Law. Cambridge: CUP.

22. Batifort, S., & Heath, J. B. (2017). The New Debate on the Interpretation of MFN Clauses in Investment Treaties: Putting the Brakes on Multilateralization. American Journal of International Law, 111(4), 873–913.

23. McLachlan, C., Shore, L., & Weiniger, M. (2017). International Investment Arbitration: Substantive Principles (2nd ed.). Oxford: OUP. §§ 7.01–7.90.

24. Vandevelde, K. J. (2010). Bilateral Investment Treaties: History, Policy, and Interpretation. Oxford: OUP. Ch. 8.

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