and
over 2,000 bilateral investment treaties, has created an
environment where trade in most parts of the world and in
most sectors is largely open and predictable. For example,
according to a recent paper by World Trade Organization
(WTO) and Organisation for Economic Co-operation and
Development (OECD) economists, 80% of developing
countries’ exports by volume now regularly enter advanced
countries duty free, compared to 55% 20 years ago (WTO,
2014).