9. The International Investment Agreements of the Pacific Alliance Members and Their Relationship of “Coexistence” with Chapter 10 of the Pacific Alliance Additional Protocol

International Investment Agreements tend to be bilateral, this is no coincidence that historically the first agreements were named Bilateral Investment Agreements. But with the negotiation and ratification of treaties as the TPP, CETA Canada- European Union and the TTIP, multilateral investment treaties are becoming a reality. How to cope between the relation of new and previous treaties between same parties? One option is to terminate the previous and another is to make them coexist. This last option was taken by the TPP and the Pacific Alliance Additional Protocol to its Framework Agreement. This article discusses the reasons of opting for this solution, and specially its legal implications in the Pacific Alliance Agreement. In a first part the bilateral agreements of the Pacific Alliance partners are exposed and compared with the Additional Protocol. In a second part, the risks of the coexistence of agreements for coherence will be assessed. In a third and final part, legal implications of coherence and the legal architecture to avoid conflict of norms will be explained; finally an economic explanation to coherence will be exposed.