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.
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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).
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
From October 19 to 23, 2015, EU and U.S. officials conducted the 11th round of TTIP negotiations in Miami, United States.
News in Brief
Binding instrument on business and human rights: Working Group holds its first session
European Parliament supports TTIP, but rejects current ISDS model
Bolivia promulgates Conciliation and Arbitration Law with regime for investor–state disputes
European Commission requests Member States to terminate intra-EU BITs
China signs FTAs with South Korea and Australia, conducts new round of BIT negotiation with United States
Binding instrument on business and human rights: Working Group holds its first session
From July 6 to 10, 2015, a UN working group convened its first meeting in Geneva, Switzerland, to discuss a legal instrument on human rights and transnational corporations.
European Parliament supports TTIP, but rejects current ISDS model
On July 8, 2015, the European Parliament adopted a non-binding resolution guiding the European Commission on the negotiations of the Transatlantic Trade and Investment Partnership (TTIP) with the United States.
Bolivia promulgates Conciliation and Arbitration Law with regime for investor–state disputes
On June 25, 2015, Bolivian President Evo Morales promulgated Law No. 708 on Conciliation and Arbitration, creating a Special Arbitration Regime for resolving investor-state disputes.
European Commission requests Member States to terminate intra-EU BITs
On June 18, 2015, the European Commission initiated infringement proceedings against Austria, the Netherlands, Romania, Slovakia and Sweden, formally requesting them to terminate their bilateral investment treaties (BITs) with other EU Member States.
China signs FTAs with South Korea and Australia, conducts new round of BIT negotiation with United States
On June 1, 2015, China and South Korea signed a free trade agreement (FTA), after three years of negotiations. Later, on June 17, China entered into another landmark FTA with Australia, concluding decade-long negotiations.
European Commission addresses TTIP concerns at European Parliament meeting
At a March 18, 2015 meeting at the European Parliament’s International Trade Committee, EU Trade Commissioner Cecilia Malmström presented four “preliminary ideas” to address public concerns about investment in the Transatlantic Trade and Investment Partnership (TTIP) in negotiation between the European Union and the United States. To prevent conflicts of interest resulting from the dual […]
TPP Investment Chapter: Re-edition of U.S. BIT, with ISDS carve-outs
A January 20, 2015 negotiating draft of the Investment Chapter of the Trans-Pacific Partnership Agreement (TPP) was leaked on March 25, 2015. The TPP has been under negotiation for five years by Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States, and Vietnam. Since the draft texts are not shared […]
India releases Model BIT for comments; United States pushes for negotiations
The Indian government published a draft of its model bilateral investment treaty (BIT) for public comment on March 24, 2015. By April 11, the deadline for submission, 185 comments were posted on the government’s online forum. The new text is set to replace the country’s 1993 model Bilateral Investment Promotion and Protection Agreement (BIPA) and […]
UNCITRAL Transparency Convention opened for signature in Mauritius
The United Nations (UN) Convention on Transparency in Treaty-based Investor–State Arbitration was opened for signature in an official ceremony on March 17, 2015 in Mauritius. Now also known as the Mauritius Convention on Transparency, the treaty results from the work of the UN Commission on International Trade Law (UNCITRAL) on transparency in investment arbitration dating […]