On May 14, 2025, the FGV Jean Monnet Centre of Excellence, co-funded by the European Union under the Erasmus+ programme, in partnership with the FGV Centre for Global Law, had the honour of welcoming Professor Renato Beneduzi for a comprehensive and engaging lecture on "Investment protection in Brazil (outside the Investor–state dispute settlement system)".

Professor Beneduzi began his lecture by detailing the fundamental aspects of investment arbitration, emphasizing the investor-state dispute settlement (ISDS) mechanism within the International Centre for Settlement of Investment Disputes (ICSID). After a concise historical overview of foreign investment treatment over the past three decades, he discussed Brazil's reasons for not joining the ICSID system. He then elaborated on Brazil's preference for Cooperation and Facilitation Investment Agreements (CFIAs) over traditional bilateral investment treaties (BITs).

The core of the lecture highlighted how Brazil, despite not being a party to the investor-state arbitration framework, provides domestic guarantees for investment protection comparable to those offered by states that are members of the ICSID system.

Subsequently, Professor Beneduzi presented typical procedural (e.g. subjective and objective arbitrability) and substantive parameters of investment law, such as national treatment, fair and equitable treatment, and unlawful expropriation. He argued that these offer a similar level of protection to foreign investors in Brazil, challenging the common misconception that Brazil does not offer adequate safeguards for foreign investment.

We extend our sincere thanks to Professor Beneduzi for his enlightening and timely presentation.