This course covers the law and policy of trade and foreign investment in Latin America. The first part of the course is dedicated to trade regulation. We will focus on the main rules governing trade in the World Trade Organization, and how they affect and/or are affected by developing countries generally and Latin America specifically. Additionally, we will approach selected regional trade arrangements, such as LAIA, Mercosur, USMCA and CAFTA-DR. The course also focuses on the encounter of trade law with other important societal values in Latin America, such as environment, health and labor, and certain new challenges for the region, such as digital trade regulation. The second part of the course turns to the legal rules and policies of foreign direct investment, briefly examining relevant domestic laws within Latin America, but focusing specially on the bilateral investment treaties (BITs), the investment cooperation and facilitation agreements, the investment chapters of regional trade agreements, and customary international law regulating inbound and outbound foreign direct investment. We will focus on the type of treatment that by law ought to be accorded foreign investors and available remedies in the context of investment treaty arbitration and its alternatives. Given that Latin American countries are highly impacted by investment arbitration and taking into account the context of global reform of the investment regime, the course addresses current challenges and emerging responses from selected Latin American countries.