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Fifty years ago, Tanzania and Germany concluded a bilateral investment treaty (BIT). The main features of this BIT differ from what is common today. The article examines the adequacy of the Treaty's stipulations against the backdrop of the controversies which the conclusion of the BITs has recently sparked in developing states and in Tanzania in particular. It discusses the nexus between the conclusion of the BITs and the inflow of foreign investments. As there is a general feeling among Tanzanian scholars that the BITs are too favourable to investors at the expense of local firms and legitimate policy objectives of the host state, various claims have been made with respect to the content of the investment treaties. Taking the Tanzania-Germany BIT as a case study, the article analyses these claims in the context of a global debate on the relationship between the need for the protection of foreign investors and sustainable development objectives. Finally, the future of the Tanzania-Germany BIT is discussed in the light of the post-Lisbon EU approach to the investment policy.

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