Published texts reveal minor edits to the ISDS clause in the United States–South Korea FTA
The United States and South Korea have renegotiated investment provisions in their FTA (KORUS FTA).
News
Reduced scope of application of ISDS in RCEP; negotiating partners still aim at end-2018
After an RCEP negotiation round held in Singapore in late August 2018, most negotiating partners are reported to have agreed to reduce the scope of application of the ISDS clause.
Australian Labor Party drops opposition to CPTPP, vows to remove ISDS bilaterally
On September 10, 2018, the Australian Labor Party (Labor) dropped its long-standing opposition to the 11-nation CPTPP, clearing the way for the agreement to pass the Senate.
European Commission communication on protection of intra-EU investment rejects ECT as a basis for intra-EU ISDS
On July 19, 2018, the European Commission (EC) published a communication to the European Parliament and the Council of the European Union (EU) titled Protection of Intra-EU Investment.
Update on EU trade and investment negotiations: Japan, Vietnam, Australia, New Zealand, Mexico
On July 17, 2018, EC President Jean-Claude Juncker and Japanese Prime Minister Shinzo Abe signed the Japan–European Union (EU) Economic Partnership Agreement (JEEPA).
United States Trade Representative outlines plan to negotiate model free trade agreement with sub-Saharan African country
The 17th African Growth and Opportunity Act (AGOA) Forum, hosted by the United States for sub-Saharan African countries, took place in Washington, D.C. from July 9 to 12, 2018.
UNCITRAL Working Group III continues debate on ISDS concerns and multilateral reform
Working Group III of the United Nations Commission on International Trade Law (UNCITRAL) continued discussions on possible reform of investor–state dispute settlement (ISDS) at its 35th session, held April 23–27, 2018 in New York.
UNCITRAL Working Group III meets in New York to continue ISDS reform discussions
The 35th session of Working Group III of the United Nations Commission on International Trade Law (UNCITRAL) takes place April 23–27, 2018
Agreement to create the African Continental Free Trade Area (AfCFTA) signed in Rwanda
On March 21, 2018, 44 of the 55 African Union member states gathered in Kigali, Rwanda, signed the AfCFTA with a view to creating a single market in the continent.
Council of the European Union adopts negotiating directives: EU Commission to negotiate a convention establishing a multilateral investment court
On March 20, 2018, the Council of the European Union adopted negotiating directives authorizing the European Commission to negotiate a convention establishing a multilateral court for the settlement of investment disputes.
Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) signed
On March 8, 2018, the CPTPP was signed in Santiago, Chile. The free trade agreement involves 11 countries in the Pacific region: Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.
RCEP to discuss investment in July; conclusion of agreement expected in 2018
On March 3, 2018, ministers from the 16 participating countries of the Regional Comprehensive Economic Partnership (RCEP) attended the 4th RCEP Intersessional Ministerial Meeting in Singapore.
Investment for sustainable development through public–private partnerships (PPPs): IISD and UNCTAD host joint workshops in Nairobi
On February 6, 2018, the International Institute for Sustainable Development (IISD) and the United Nations Conference on Trade and Development (UNCTAD) co-organized two half-day workshops on Harnessing Investment for Sustainable Development Through Public–Private Partnerships (PPPs) in Infrastructure and Public Services in Nairobi, Kenya.
EU–Japan EPA negotiations finalized without investment; EU–Mexico updated FTA nears completion
On December 8, 2017, European Commission President Jean-Claude Juncker and Japanese Prime Minister Shinzo Abe announced the finalization of the negotiations of the Economic Partnership Agreement (EPA) between the European Union and Japan.
UNCITRAL Working Group III holds first meeting on possible reform of ISDS
During the week of November 27–December 1, 2017, Working Group III of the United Nations Commission on International Trade Law (UNCITRAL) held its first meeting on possible reform of investor–state dispute settlement (ISDS).
EU continues efforts toward establishing multilateral investment court, despite sharp criticism
Beyond advancing its Investment Court System (ICS) proposal in bilateral negotiations, the European Union continues its efforts toward establishing a multilateral investment court (MIC).
NAFTA 2.0: Canada, Mexico and U.S. negotiation rounds move into the first quarter of 2018
The three parties to the North American Free Trade Agreement (NAFTA) held the third, fourth and fifth rounds of renegotiation (Ottawa, September 23–27; Arlington, October 11–17; and Mexico City, November 17–21). The next round of NAFTA renegotiations is scheduled for January 23–28, 2018 in Montreal.
RCEP partners miss third deadline and push negotiations through November 2018
Participating countries of the Regional Comprehensive Economic Partnership (RCEP) held the 20th round of negotiations in Incheon, Korea, from October 17 to 28, 2017.
TPP-11 ministers agree on core elements of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)
On November 11, 2017, in Da Nang, Vietnam, ministers of Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam “agreed on the core elements of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).”
Belgium requests CJEU for an opinion on the compatibility of ICS in CETA with EU law
On September 6, 2017, Belgium submitted to the Court of Justice of the European Union (CJEU) a request for an opinion on the compatibility of the ICS with the European Treaties.
Canada, Mexico and United States hold first rounds of NAFTA renegotiation
Following U.S. President Trump’s initiative to renegotiate the NAFTA, the first round of negotiation took place in Washington, D.C. from August 16–20, 2017 and the second in Mexico City from September 1–5, 2017.
Report on third-party funding in international arbitration opened for public comment
The International Council for Commercial Arbitration (ICCA)–Queen Mary Task Force on Third-Party Funding in International Arbitration opened its draft report for public comment.
HKIAC invites comments on including investment arbitration provisions in revised rules
The Rules Revision Committee of the Hong Kong International Arbitration Centre (HKIAC) invited public comments on proposed amendments to the 2013 HKIAC Administered Arbitration Rules.
EU launches consultation on prevention and resolution of intra-EU investment disputes
On July 31, 2017 the European Commission launched a consultation on the prevention and amicable resolution of disputes between investors and public authorities within the European Union.
UNCITRAL receives mandate to work on ISDS reform; Transparency Convention to enter into force on October 18, 2017
On July 14, 2017, the United Nations Commission on International Trade Law (UNCITRAL) entrusted its Working Group III with a broad mandate to work on the possible reform of investor–state dispute settlement (ISDS).
Canada–EU CETA to be provisionally applied as of September 21, 2017
After Canada’s ratification of the Comprehensive Economic and Trade Agreement (CETA) on May 17, 2017, Canada and the European Commission agreed to start the provisional application of the agreement on September 21, 2017.
EU and Japan reach agreement in principle on EPA; ISDS remains fully open
The European Union and Japan announced on July 6, 2017 that they reached an agreement in principle on the main elements of an Economic Partnership Agreement (EPA).
TPP-11 to move forward; United States to focus on bilateral negotiations and NAFTA
Trade ministers from 11 signatory countries of the Trans-Pacific Partnership met on May 21, 2017 in Hanoi, Vietnam, to discuss the future of the agreement during an APEC meeting.
Ecuador denounces its remaining 16 BITs and publishes CAITISA audit report
Ecuadorian President Rafael Correa formalized Ecuador’s withdrawal on May 16, 2017 from BITs concluded with 16 countries.
EU General Court annuls Commission decision that refused registration of “Stop TTIP”
In September 2014, the European Commission refused to register a petition signed by over three million EU citizens requesting the Commission to stop trade and investment negotiations with the United States and refrain from concluding the CETA with Canada.
ECJ rules that European Union–Singapore FTA requires ratification by EU member states
The European Court of Justice published its Opinion 2/15 on the European Union–Singapore FTA on May 16, 2017.
India opposes “trade and investment facilitation” item in WTO General Council agenda
A meeting of the WTO General Council was suspended on May 10, 2017 after India objected to the adoption of the proposed agenda, which included a “trade and investment facilitation” item.
SIAC Investment Arbitration Rules come into effect; new SCC rules include appendix on investment treaty disputes
On January 1, 2017, the Investment Arbitration Rules of the Singapore Investment Arbitration Centre (SIAC) came into effect. Among the highlights are provisions on early dismissal of claims and defences, submissions by non-disputing parties and mandatory disclosure of third-party funding arrangements. The tribunal may consider such arrangements when apportioning costs. The 2017 Arbitration Rules of the Stockholm Chamber […]
CETA approved by EU Parliament; provisional application depends on ratification by Canada
On February 15, 2017, the European Parliament approved the Comprehensive Economic and Trade Agreement (CETA), signed by Canada and the European Union on October 30, 2016 after seven years of negotiations. The agreement was approved by 408 Members of the European Parliament and rejected by 254, with 33 abstentions. As reported in ITN, this approval paves the […]
Trump pulls United States out of TPP; intends to pursue bilateral agreements
On January 23, 2017, fulfilling a campaign pledge, U.S. President Donald Trump formally withdrew the United States from the Trans-Pacific Partnership (TPP), signed in February 2016. The Trump administration indicated that it would pursue bilateral agreements instead. In his campaign, the U.S. President also promised to renegotiate the North American Free Trade Agreement (NAFTA) with Canada and Mexico. In a meeting […]
European Union and Canada co-host discussions on a multilateral investment court
On December 13 and 14, 2016, the European Commission and the Canadian Government co-hosted exploratory discussions on establishing a multilateral investment court. Government representatives from several countries attended the closed-door meeting in Geneva. Upon concluding CETA, the two hosts had vowed to “work expeditiously” to create a permanent investment court, building on the ICS mechanism included in the agreement. The goal of […]
Following criticisms of CETA, academics propose reforms in EU trade and investment policy and negotiations
On December 5, 2016, the Belgian region of Wallonia published the Namur Declaration, proposing to change EU trade policy and negotiations. The document was initially signed by 40 academics from several countries, including Paul Magnette, Minister-President of Wallonia. The region made the news in October 2016, when its parliament temporarily blocked the approval of CETA by the Belgian […]
Trump election affects mega-regional negotiations including TTIP, TPP and RCEP
In September, EU officials recognized that the negotiations on the EU–U.S. Transatlantic Trade and Investment Partnership (TTIP) were unlikely to be concluded before the end of U.S. President Barack Obama’s mandate.
Brazil and India initial bilateral investment treaty (BIT); text yet to be published
During the 10th Annual Forum of Developing Country Investment Negotiators, held in Colombo, Sri Lanka, from November 7 to 10, representatives from Brazil and India announced that they had recently initialled a bilateral investment agreement (BIT).
CETA signed; Canada and European Union to “work expeditiously” on creating a Multilateral Investment Court
On October 30, during the 16th European Union–Canada Summit held in Brussels, the two negotiating partners signed the Comprehensive Economic and Trade Agreement (CETA), after seven years of negotiations.
News in Brief
Brexit and contentious topics complicate TTIP negotiations; public opposition continues
EU negotiation agenda to continue despite Brexit; MERCOSUR and Indonesia at sight
United Kingdom makes trade and investment negotiation moves for post-Brexit era
CETA to be concluded as a mixed agreement; commission hopes for signing in october
RCEP partners conclude 13th negotiating round in auckland; three further rounds in 2016
India takes steps to reform its investment policy framework after approving new model bit
Brexit and contentious topics complicate TTIP negotiations; public opposition continues
The 14th round of Transatlantic Trade and Investment Partnership (TTIP) negotiations was held in Brussels from July 11 to 15, 2016.
EU negotiation agenda to continue despite Brexit; MERCOSUR and Indonesia at sight
Despite the uncertainties in TTIP negotiations, EU Trade Commissioner Cecilia Malmström said they would survive Brexit, and is pushing to conclude negotiations before U.S. President Barack Obama leaves office in early 2017.
United Kingdom makes trade and investment negotiation moves for post-Brexit era
On July 8, 2016, Sajid Javid, former Business Secretary for the United Kingdom, launched preliminary talks with India on a future trade relationship between the two countries as soon as Britain formally leaves the European Union.
CETA to be concluded as a mixed agreement; Commission hopes for signing in October
On July 5, 2016, the European Commission proposed to the Council that the Canada–European Union CETA—agreed to in 2014 and re-concluded in February 2016—be signed as a “mixed agreement,” requiring signature and ratification by each of the EU member states.
RCEP partners conclude 13th negotiating round in Auckland; three further rounds in 2016
The 13th round of negotiations for a Regional Comprehensive Economic Partnership (RCEP) was held in Auckland, New Zealand, from June 12 to 18, 2016. The International Centre for Trade and Sustainable Development (ICTSD) reports that all countries have now submitted initial offers for trade in goods and services, and initial lists of reservations for investment. Negotiations—with further rounds […]
India takes steps to reform its investment policy framework after approving new model BIT
India has started to send official notices to terminate bilateral investment treaties (BITs) to 57 partner countries with which it has BITs that have already expired or will expire in the near future. Moreover, to the 25 countries with which India has BITs with initial durations expiring from July 2017 onward, India has started to propose signing joint […]
US$50 billion awards against Russia in Yukos cases are set aside by Dutch court
In a judgment dated April 20, 2016, the District Court of The Hague, in the Netherlands, set aside awards that had ordered Russia to pay US$50 billion to the shareholders of Yukos, a bankrupt oil company.
TTIP draft to be prepared by July; ISDS being built based on both EU and U.S. proposals
Officials from the European Union and the United States gathered in Brussels for the 12th round of negotiations over the Transatlantic Trade and Investment Partnership (TTIP) from February 22 to 26.
China–United States BIT: ISDS to be included; ongoing negotiations on negative lists
Since 2008, China and the United States have undergone 24 negotiation rounds for a bilateral investment treaty (BIT).