THE EUROPEAN COMMISSION’S EVALUATION AND FITNESS CHECK ROADMAP: AN OPPORTUNITY TO IMPROVE THE EU-CENTRAL AMERICA ASSOCIATION AGREEMENT

On 29 June 2012, the European Union and the six partner countries in Central America – Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama – signed an Association Agreement (the EU-Central America Association Agreement) (the “Association Agreement“).  The purpose of this FTA was to develop trade and investment relations between parties. On 13 May … Read more

DJIBOUTI BECOMES 163RD SIGNATORY OF THE ICSID CONVENTION

The Republic of Djibouti is the latest country to become a signatory to the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (the ICSID Convention).  Djibouti’s Minister of Economy and Finance, Ilyas Moussa Dawaleh, signed the ICSID Convention on 12 April 2019.  Djibouti must now ratify the ICSID Convention … Read more

EU submits paper and work plan to UNCITRAL Working Group III advocating systemic reform as the only answer to concerns about investor-state dispute resolution

In advance of the next meeting of UNCITRAL Working Group III (WG III) in April 2019, the European Union and its Member States have made a submission on “Establishing a standing mechanism for the settlement of international investment disputes” (the Submission), as well as a possible work plan for achieving this aim.  As described in … Read more

Third party intervention in investment arbitration: Tribunal admits NGO submissions in Gabriel Resources’ claim against Romania concerning mining project

The Tribunal in Gabriel Resources v Romania recently issued an order (the Order) in response to an application (the Application) made by three Romanian NGOs, as non-disputing parties, for participation and an amicus submission (the Submission) in an ICSID arbitration under the Canada-Romania BIT (the BIT). Gabriel Resources’ allegations of breach of the BIT arise … Read more

Update on the future of ISDS: UNCITRAL Working Group III decides three areas for reform, indicating change is likely in 2019

The United Nations Commission on International Trade Law (“UNCITRAL“) has been considering the possible reform of investor-state dispute settlement (“ISDS“). UNCITRAL Working Group III (“WGIII“) has been given a broad mandate to identify concerns regarding ISDS procedure, consider whether reform is desirable, and, if so, develop relevant solutions to be recommended to the main UNCITRAL … Read more