Regional investment treaties

Filter category

Feature post image

Killing all birds with one stone: Is this the end of Intra-EU BITs (as we know them)

On 5 May 2020, 23 EU Member States, except for Austria, Ireland, Finland, and Sweden, signed the Agreement for the Termination of Bilateral Investment Treaties between the Member States of the European Union (the Agreement). Its adoption is the latest development in the debate on the incompatibility of bilateral investment treaties between Member States (Intra-EU BITs) with EU law. The fierce debate finds its roots in the landmark CJEU judgment in Slovak Republic v Achmea BV (C-284/16), where the Grand Chamber declared Intra-EU BITs as contrary to EU law, and over time has prompted opinions from the EU Attorney General, the CJEU itself, and several ISDS tribunals convened on the basis of Intra-EU BITs. But what, exactly, will be the Agreement’s effects on Intra-EU BITs? And how will it impact pending and future ISDS disputes? Closing the door to future Intra-EU ISDS The Agreement’s objective is straightforward. Pursuant to Articles 2 and 3, following entry into force, all Intra-EU BITs will be terminated and any sunset clauses they might…

Read more

The Scorecard of the USMCA Protocol of Amendment

    The U.S. House of Representatives approved December 19 the United States-Mexico-Canada Agreement (USMCA) by an overwhelming margin of 385-41. The Senate is expected to do the same in mid-January. As everyone knows by now, USMCA is a revision and replacement for the 25-year-old North American Free Trade Agreement (NAFTA), a regional trade agreement…

Read more

Remaking the World towards ‘Fair and Reciprocal Trade’? The Case for (More) Interdisciplinarity in International Economic Law

Geopolitical changes were on full display last week at multiple economic summits in Asia, where red carpet pageantry converged with the dramatic publicity of States brokering new deals at the regional meetings for the Asia-Pacific Economic Cooperation (APEC) in Viet Nam, the Association of Southeast Asian Nations (ASEAN) Heads of State Summit and the 12th…

Read more

The Human Costs of Exiting Trade Agreements: The Right to Development in an Era of Policy Uncertainty

October 2017 has been a cliffhanger month for global policy uncertainty, especially highlighted by the mirroring acts of brinksmanship during intense trade negotiations on both sides of the Atlantic.  With the looming 29 March 2019 Brexit deadline, UK Prime Minister Theresa May surprised Brexit hardliners when she announced on 23 October that there will be no…

Read more

The MERCOSUR Protocol on Investment Cooperation and Facilitation: regionalizing an innovative approach to investment agreements

The States Parties of the MERCOSUR (Argentina, Brazil, Paraguay and Uruguay) signed in April 2017 the Protocol on Investment Cooperation and Facilitation (“MERCOSUR Protocol”). As discussed in this post, the Protocol draws significantly on the Brazilian model investment agreement (the Agreement on Cooperation and Facilitation of Investments – ACFI), which stands out for departing…

Read more