“…In fact, according to the United Nations Commission on Trade and Development (UNCTAD), the 1990s began with some 900 treaties and ended with over 2,900 treaties. However, in most of the cases these treaties were used to invoke arbitration, the arbitral tribunals would very broadly interpret the provisions of such BITs, as they were never perfectly unequivocal (Sharmin, 2020). This caused states to realize the risks of the treaties they had entered into, and as a result, there was a significant drop in the number of new treaties entered (Carvalho et al, 2019).…”