{"id":4005,"date":"2017-03-13T14:49:58","date_gmt":"2017-03-13T19:49:58","guid":{"rendered":"http:\/\/itn.mattrock.ca\/?p=4005"},"modified":"2024-08-09T18:27:37","modified_gmt":"2024-08-09T16:27:37","slug":"european-union-and-canada-co-host-discussions-on-a-multilateral-investment-court","status":"publish","type":"post","link":"https:\/\/www.iisd.org\/itn\/2017\/03\/13\/european-union-and-canada-co-host-discussions-on-a-multilateral-investment-court\/","title":{"rendered":"European Union and Canada co-host discussions on a multilateral investment court"},"content":{"rendered":"<p>On December 13 and 14, 2016, the European Commission and the Canadian Government co-hosted\u00a0<a href=\"http:\/\/europa.eu\/rapid\/press-release_IP-16-4349_en.htm\">exploratory discussions<\/a>\u00a0on establishing a multilateral investment court. Government representatives from several countries attended the closed-door meeting in Geneva.<\/p>\n<p>Upon concluding <span class='tooltipsall tooltipsincontent classtoolTips41'>CETA<\/span>,\u00a0<a href=\"https:\/\/www.iisd.org\/itn\/2016\/12\/12\/ceta-signed-canada-and-european-union-to-work-expeditiously-on-creating-a-multilateral-investment-court\/\">the two hosts had vowed to \u201cwork expeditiously\u201d<\/a>\u00a0to create a permanent investment court, building on the\u00a0<a href=\"https:\/\/www.iisd.org\/itn\/2015\/11\/26\/investment-court-system-proposed-by-european-commission\/\"><span class='tooltipsall tooltipsincontent classtoolTips72'>ICS<\/span><\/a>\u00a0mechanism included in the agreement. The\u00a0<a href=\"http:\/\/europa.eu\/rapid\/press-release_MEMO-16-4350_en.htm\">goal of the new court<\/a>\u00a0is to replace the existing regime of ad hoc investor\u2013state arbitration as well as bilateral ICS mechanisms included in <span class='tooltipsall tooltipsincontent classtoolTips117'>EU<\/span> trade and investment agreements. It would be open to all interested countries to resolve disputes under existing and future investment treaties.<\/p>\n<p><a href=\"http:\/\/www.thehindu.com\/business\/India-rejects-attempts-by-EU-Canada-for-global-investment-agreement\/article17083034.ece\">Argentina, Brazil, India, Japan and other nations reportedly rejected<\/a>\u00a0the initiative, which Canada and the European Union continued to advance at the World Economic Forum (WEF), in Switzerland. Indian Commerce and Industry\u00a0<a href=\"http:\/\/www.thehindu.com\/business\/India-rejects-attempts-by-EU-Canada-for-global-investment-agreement\/article17083034.ece\">Minister Nirmala Sitharaman said<\/a>\u00a0that \u201cIndia summarily rejected\u201d the idea that CETA, incorporating an investor\u2013state dispute settlement (<span class='tooltipsall tooltipsincontent classtoolTips43'>ISDS<\/span>) mechanism, could be the template for a similar multilateral agreement.<\/p>\n<p>In the occasion,\u00a0<a href=\"http:\/\/www.thehindu.com\/business\/India-rejects-attempts-by-EU-Canada-for-global-investment-agreement\/article17083034.ece\">Minister Sitharaman also emphasized<\/a>\u00a0India\u2019s position in favour of requiring investors to exhaust local remedies before resorting to international tribunals: \u201cOnly after all local options have been exhausted for settling disputes between a corporate and a government, do we want to permit issues to be taken up in international arbitration tribunals.\u201d<\/p>\n<p>On February 27, the European Commission held a\u00a0<a href=\"http:\/\/trade.ec.europa.eu\/doclib\/events\/index.cfm?id=1618\">stakeholder meeting<\/a>\u00a0on a multilateral reform of investment dispute resolution. It is also holding a\u00a0<a href=\"http:\/\/trade.ec.europa.eu\/consultations\/index.cfm?consul_id=233\">public consultation<\/a>\u00a0on options for a multilateral reform of investment dispute resolution, due to close on March 15.<\/p>\n<p><a href=\"https:\/\/www.iisd.org\/itn\/2017\/03\/13\/news-in-brief-26\/\"><em>More News in Brief<\/em><\/a><!--more--><\/p>\n<script type=\"text\/javascript\"> toolTips('.classtoolTips32','International Institute for Sustainable Development<!--more-->'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips33','Institut international du d\u00e9veloppement durable'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips34','Instituto Internacional para el Desarrollo Sostenible'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips41','Comprehensive Economic and Trade Agreement'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips43','investor\u2013state dispute settlement'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips58','soluci\u00f3n de controversias inversionista-Estado'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips60','Investment Treaty News'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips63','Bilateral investment treaty'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips67','Energy Charter Treaty'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips72','Investment Court System'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips76','multilateral investment court'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips100','investissement direct \u00e9tranger'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips114','Sistema de Tribunales de Inversiones'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips116','European Commission'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips117','European Union'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips118','Union europ\u00e9enne'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips119','Uni\u00f3n Europea'); <\/script>","protected":false},"excerpt":{"rendered":"<p>On December 13 and 14, 2016, the European Commission and the Canadian Government co-hosted\u00a0exploratory discussions\u00a0on establishing a multilateral investment court. Government representatives from several countries attended the closed-door meeting in [&hellip;]<script type=\"text\/javascript\"> toolTips('.classtoolTips116','European Commission'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips117','European Union'); <\/script><\/p>\n","protected":false},"author":1,"featured_media":15869,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[397],"tags":[1949,1926,2007,1985,1925,2084,1980],"class_list":["post-4005","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ceta","tag-eu","tag-exhaustion-of-local-remedies","tag-investment-court-system-ics","tag-investor-state-dispute-settlement-isds","tag-local-remedies","tag-multilateral-investment-court-mic"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/posts\/4005","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/comments?post=4005"}],"version-history":[{"count":0,"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/posts\/4005\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/media\/15869"}],"wp:attachment":[{"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/media?parent=4005"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/categories?post=4005"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/tags?post=4005"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}