{"id":3055,"date":"2014-05-14T03:37:46","date_gmt":"2014-05-14T08:37:46","guid":{"rendered":"http:\/\/itn.mattrock.ca\/?p=3055"},"modified":"2014-05-14T03:37:46","modified_gmt":"2014-05-14T08:37:46","slug":"news-in-brief-15","status":"publish","type":"post","link":"https:\/\/www.iisd.org\/itn\/2014\/05\/14\/news-in-brief-15\/","title":{"rendered":"News in Brief"},"content":{"rendered":"

UNCITRAL<\/span> launches new transparency registry <\/strong><\/p>\n

The UNCITRAL Secretariat has established a transparency registry[1] that will function as a repository for the publication of information and documents in treaty-based investor-State arbitration. This follows the entry into force of the UNCITRAL Rules on Transparency in treaty-based investor-State arbitration on April 1, 2014.[2]\n

The registry will contain information on the commencement of an arbitration, and make available a wide range of documents, including transcripts of hearings; orders, decisions and awards of the arbitral tribunal; and submissions to the tribunal.<\/p>\n

The UNCITRAL Rules on Transparency are an integral part of the UNCITRAL arbitration rules and will apply on a default basis to UNCITRAL investor-State arbitrations conducted under investment treaties concluded after April 1, 2014.<\/p>\n

The UNCITRAL arbitration rules are among the most common rules for settling investor-State arbitration, and had long been criticized for their secretive nature.<\/p>\n

Indonesia terminates bilateral investment treaty with the Netherlands<\/strong><\/p>\n

In March the Dutch Ministry of Foreign Affairs announced that Indonesia has decided to terminate its bilateral investment treaty with the Netherlands. Indonesia has faced a number of treaty-based claims in recent years.<\/p>\n

The Dutch Ministry stated: \u201cIndonesia has informed the Netherlands that it has decided to terminate the Bilateral Investment Treaty (official title: Agreement between the Government of the Republic Indonesia and the Government of the Kingdom of the Netherlands on Promotion and Protection of Investment) per July 1, 2015.<\/em><\/p>\n

From that date onwards the provisions of the Agreement will continue to apply only to investments made prior to that date, for a period of fifteen years. The Indonesian Government has mentioned it intends to terminate all of its 67 bilateral investment treaties. The Netherlands is discussing the matter with the Indonesian authorities.\u201d[3]<\/strong><\/em><\/p>\n

The Netherlands\u2019 portfolio of nearly a 100 BITs is one of the largest in the world. It has also been the focus of particular controversy. Together with a favourable tax regime, Dutch BITs have been accused of forming a strategy to attract so-called mail box companies (i.e. business with no real economic activity in the country).<\/p>\n

Germany balks at investor-State arbitration in the Transatlantic Trade and Investment Partnership<\/strong><\/p>\n

Germany\u2019s Ministry of Economy announced in March that it opposed investor-State dispute settlement provisions in the EU<\/span>-US trade pact that is currently under negotiation, according to a report in the Financial Times<\/em>.[4]\n

Opposition to investment arbitration by civil society groups has swelled in Europe, leading the Commission to open a public consultation on the matter (see the next story item).<\/p>\n

Germany had previously approved a mandate for the European Commission to negotiate on investor-State arbitration, along with other EU member states. But speaking to the German parliament, Brigitte Zypries, a junior economy minister, explained that the German government now believes that \u201cUS investors in the EU have sufficient legal protection in the national courts.\u201d<\/p>\n

According to the Financial Times<\/em>, Ignacio Garcia Bercero, the EU\u2019s chief negotiator, and Dan Mullaney, the US lead negotiator, declined to comment on Germany\u2019s position.<\/p>\n

Germany\u2019s stance on investor-State comes as a surprise; the country has the largest portfolio of BITs in the world. It also has the distinction of having signed the first ever BIT<\/span> in 1959, with Pakistan.<\/p>\n

European Commission launches public consultation on investment provisions in TTIP<\/strong><\/p>\n

The European Commission has invited the public to comment on its approach to investment protection and investor-State dispute settlement provisions in negotiations with the United States over the Transatlantic Trade and Investment Partnership Agreement (TTIP).<\/p>\n

According to the Commission, \u201cthe key issue … is whether the EU\u2019s proposed approach for TTIP achieves the right balance between protecting investors and safeguarding the EU\u2019s right and ability to regulate in the public interest.\u201d<\/p>\n

The Commission is seeking feedback through a detail questionnaire available online.[5] The consultation is open until July 6, 2014.<\/p>\n

Campaigners from the Seattle to Brussels Network have criticized what they label a \u201cmock consultation.\u201d[6] In a statement from the network, Marc Maes of the Belgian development organisation 11.11.11 said the \u201cCommission\u2019s so-called reform agenda does nothing to address the basic flaws of the investor-state dispute settlement system. Foreign companies will continue to have greater rights than domestic firms and citizens. And international tribunals consisting of three for-profit lawyers will continue to decide over what policies are right or wrong, disregarding domestic laws, courts and democracy.”<\/p>\n[1] http:\/\/www.uncitral.org\/transparency-registry\/registry\/index.jspx<\/a><\/p>\n[2] http:\/\/www.uncitral.org\/pdf\/english\/texts\/arbitration\/rules-on-transparency\/Rules-on-Transparency-E.pdf<\/a><\/p>\n[3] http:\/\/indonesia.nlembassy.org\/news\/2014\/03\/bilateral-investment-treaty%5B2%5D.html<\/p>\n[4] http:\/\/www.ft.com\/intl\/cms\/s\/0\/cc5c4860-ab9d-11e3-90af-00144feab7de.html?siteedition=uk#axzz2znbA2zGj<\/a><\/p>\n[5] http:\/\/trade.EC<\/span>.europa.eu\/consultations\/index.cfm?consul_id=179<\/p>\n[6] http:\/\/globalarbitrationreview.com\/news\/article\/32531\/public-consultation-opens-eu-us-treaty\/<\/a><\/p>\n