Rights of national investors vis-á-vis those of foreigners

Constitutional Review of the International Agreement for the reciprocal promotion and protection of investments between Colombia and France (2014) and its Approval Act

Date:  06/06/2019

Judge-Rapporteur:  Carlos Libardo Bernal Pulido 

Concurrence:  Carlos Libardo Bernal Pulido.  Alejandro Linares Cantillo

Dissent:  Diana Constanza Fajardo Rivera (partial).  Alejandro Linares Cantillo (partial).  Alberto Rojas Ríos

Reviewed agreement The agreement subject to review dealt with the conditions and protection of foreign investments in the other country. 

Issue:  Are the Agreement and its approval Act in accordance with the principles and provisions of the Constitution?

Ruling and reasoning.  The Court RULED THE CONDITIONAL CONSTITUTIONALITY of the treaty and its approval act, given that the foreign investor has rights that need to be protected. However, said protection cannot imply any discrimination for the national investor.  Therefore, it declared the constitutionality of both, the agreement and its Approval Act, under the understanding that none  of the provisions that refer to substantive rights will give rise to more favorable treatment towards foreign investors with respect to national ones.  The Chamber also warned the President that, if he decides to ratify the treaty, must take the necessary steps to promote the adoption of a joint interpretative declaration with the representative of the French Republic regarding this condition.

Translation of Judgment C-252/2019 of the Colombian Constitutional Court on the bit between France and Colombia