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.
News
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 […]
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 […]
Trump pulls United States out of TPP; intends to pursue bilateral agreements
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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 […]
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 […]
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 […]
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 […]
US$50 billion awards against Russia in Yukos cases are set aside by Dutch court
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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).
Three mining disputes: the first investment disputes against Colombia come to light
On February 19, 2016, Cosigo Resources (Canada) and Tobie Mining and Energy (United States) submitted an arbitration request against Colombia under the Free Trade Agreements (FTAs) concluded by Colombia with the United States and Canada.
Canada–European Union CETA re-concluded in February to incorporate EU ICS proposal
Responding to EU requests, Canadian and EU officials reopened negotiations of the Comprehensive Economic and Trade Agreement (CETA) concluded in 2014 to reformulate the agreement’s investor–state dispute settlement (ISDS) clause. Re-concluded […]
Second ICSID claim filed against Uruguay; Philip Morris decision still pending
On March 24, the International Centre for Settlement of Investment Disputes (ICSID) registered (Case No. ARB/16/9) a request for arbitration filed by U.S. telecom company Italba against Uruguay.
Singapore International Arbitration Centre releases investment arbitration rules
On February 1, 2016, the Singapore International Arbitration Centre (SIAC) released draft rules tailored to investment arbitration (Draft SIAC Rules), to be finalized in May following public consultation.
Trans-Pacific Partnership agreement signed in Auckland; UN independent expert calls on states to safeguard regulatory space
On February 4, 2016, trade ministers from twelve Pacific Rim nations met in Auckland, New Zealand, to sign the Trans-Pacific Partnership (TPP) agreement.
UNASUR Arbitration Centre one step closer to being established
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Commission attempts to reopen CETA negotiations with Canada to revisit ISDS
EU officials are said to have requested the new Canadian federal government to revisit the ISDS clause in the Comprehensive Economic and Trade Agreement (CETA), according to reports by CBC News on January 21, 2016.
Germany’s judges and public prosecutors reject proposed investment court system in TTIP
In a statement issued in early February 2016, the German Association of Judges (known by its German acronym, DRB) firmly rejected the proposal published by the European Commission on September 16, 2015 to establish an Investment Court System (ICS) under the Transatlantic Trade and Investment Partnership (TTIP) between the European Union and the United States.
Standing tribunal included in European Union–Vietnam FTA
On December 2, 2015, the European Union and Vietnam signed a free trade agreement (FTA), closing three years of negotiations.
Ecuador’s audit on investment treaties: CAITISA reports leaked
Three reports by CAITISA, Ecuador’s citizen audit commission on bilateral investment treaties (BITs), were leaked by online newspaper Diagonal on January 24, 2016.
European Commission gives in to pressures for increased transparency of TTIP texts
All 751 Members of the European Parliament (MEP) will have comprehensive access to all confidential documents relating to TTIP negotiations.
Philip Morris fails in PCA arbitration against Australia over plain packaging laws
On December 17, 2015, a tribunal at the Permanent Court of Arbitration (PCA) issued its jurisdictional award in the case of tobacco giant Philip Morris against Australia over the country’s tobacco plain packaging legislation.
TransCanada initiates NAFTA arbitration against the United States over rejection of Keystone XL pipeline
On January 6, 2016, TransCanada initiated arbitration against the United States for “unreasonably delaying approval” of the proposed Keystone XL pipeline and ultimately denying, in November 2015, the company’s application for the required Presidential Permit.
News in Brief
UN Independent Expert Alfred de Zayas recommends abolishing current ISDS regime
Investment Court System proposed by European Commission
Deal reached on Trans-Pacific Partnership
EU–U.S. negotiations: ISDS on hold and controversy on a leaked EU proposal for the sustainable development chapter; secrecy in TTIP negotiations still a concern
UN Independent Expert Alfred de Zayas recommends abolishing current ISDS regime
In a report circulated on August 5, 2015, UN Independent Expert on the promotion of a democratic and equitable international order, Alfred-Maurice de Zayas, recommended that states abolish the existing investor–state dispute settlement (ISDS) system.
Investment Court System proposed by European Commission
On September 16, 2015, the European Commission published its proposal on Investment Protection and Resolution of Investment Disputes and Investment Court System.
Deal reached on Trans-Pacific Partnership
On October 5, 2015, trade ministers reached agreement on the Trans-Pacific Partnership (TPP).