On March 25, 2020, the European Commission published a guidance for member states onscreening in the face of the COVID-19 pandemic, focusing on, but not limited to, health-related industries.
Thereleased a proposal for the modernization of the on May 27, 2020. This latest draft of the EU’s proposal includes changes to the treaty’s definition of investment, an affirmation of parties’ right to regulate, a narrower definition of , and reference to a multilateral investment court. The proposal also suggests several additional articles on sustainable development, frivolous claims, security for costs, interventions by third parties, third-party funding, and valuation of damages.
EU Member States Sign Agreement to Terminate Intra-EU BITs While German Investor Brings Claim Against the Netherlands Under the ECT
On May 5, 2020, 23 European Union member states* formally agreed to the termination of intra-BITs.
Theodoros Adamakopoulos and others v. Republic of Cyprus,Case No. ARB/15/49
The talks between China and thefor a Comprehensive Agreement on Investment saw an important milestone in December 2019, as the two sides exchanged new market access offers. They had exchanged market access offers once previously, in July 2018.
The United Kingdom’s exit from theformally took place on January 31, 2020, following years of talks and repeated extensions in the Brexit deadline. With the United Kingdom now in an 11-month transition period, questions remain over the shape of the country’s future trade and investment relationship with the EU and other partners, though some further indications of what this may entail are beginning to emerge.
The idea of entrusting party-appointed arbitrators with powers to decide investor–state disputes through final and binding awards, inherited from commercial arbitration and traditionally accepted as appropriate, now causes discomfort among critics.
Talks for an–China have made some progress in the areas of financial services and national treatment, according to a report circulated by the European Commission in July, with another negotiating round planned for the week of September 23.
The European Council has approved negotiating directives for the’s participation in talks to modernize the , confirming its decision during a meeting on July 2, 2019.
Thereleased on May 14 a set of draft negotiating directives setting out its proposed approach in “modernizing” the Energy Charter Treaty ( ).
Thehas deemed that the included in the Canada– is consistent with EU law, issuing its final opinion on April 30, 2019.
Leaders from China and thehave pledged to finalize negotiations for their Comprehensive Investment Agreement next year, announcing their target date and further details about the process during a summit in Brussels, Belgium, on April 9, 2019.
Twenty-twomember states endorsed a political declaration on January 15, 2019, where they announced a series of actions involving existing intra-EU BITs and upcoming or ongoing investment arbitration.
The European Economic and Social Committee (EESC) has weighed in on the European Commission’s recommendation for a European Council decision to launch negotiations on the proposed, supporting discussions on reform while noting areas for improvement.
Advocate General Yves Bot issued a non-binding opinion on January 29, 2019, deeming that the included in the Canada– is compatible with EU law. Bot assessed the ICS against the EU Treaty, the and the EU Charter of Fundamental Rights.
The European Union’s new framework for screeningis due to take effect in April 2019, with the text now published in the ’s Official Journal. The framework allows both EU member states and the European Commission until October 2020 to enact the changes required.
Delegates had a new round of deliberations for multilateral reform ofat from April 1 to 5. The meeting of Working Group III, which is tasked with this process, was held in New York.
On November 20, 2018, the European Parliament, Council and Commission reached political agreement on anframework for screening , and on December 11, 2018, the International Trade Committee of the European Parliament endorsed the political agreement.
European Union signs trade and investment agreements with Singapore; EU–Japan EPA to enter into force on February 2019
On October 19, 2018, Singapore and the European Union signed political and trade agreements as well as the–Singapore Investment Protection Agreement (IPA).
European Commission communication on protection of intra-EU investment rejects ECT as a basis for intra-EU ISDS
On July 19, 2018, the European Commission () published a communication to the European Parliament and the Council of the European Union ( ) titled Protection of Intra-EU Investment.
On July 17, 2018,President Jean-Claude Juncker and Japanese Prime Minister Shinzo Abe signed the Japan–European Union ( ) Economic Partnership Agreement (JEEPA).
MASDAR SOLAR & WIND COOPERATIEF U.A. V. THE KINGDOM OF SPAIN,CASE NO. ARB/14/1
Current and future investment treaties and chapters involvingmember states or the Union itself may be profoundly impacted by a landmark ruling of the European Court of Justice ( ). In this piece, the author explores the judgement from an EU constitutional point of view and analyzes potential consequences. Did the Achmea ruling come as a surprise to EU law insiders?
Council of the European Union adopts negotiating directives: EU Commission to negotiate a convention establishing a multilateral investment court
On March 20, 2018, the Council of the European Union adopted negotiating directives authorizing the European Commission to negotiate a convention establishing a multilateral court for the settlement of investment disputes.
On December 8, 2017, European Commission President Jean-Claude Juncker and Japanese Prime Minister Shinzo Abe announced the finalization of the negotiations of the Economic Partnership Agreement (EPA) between the European Union and Japan.
Beyond advancing its Investment Court System () proposal in bilateral negotiations, the European Union continues its efforts toward establishing a multilateral investment court ( ).
On September 6, 2017, Belgium submitted to the Court of Justice of the European Union () a request for an opinion on the compatibility of the with the European Treaties.
On July 31, 2017 the European Commission launched a consultation on the prevention and amicable resolution of disputes between investors and public authorities within the European Union.
After Canada’s ratification of the Comprehensive Economic and Trade Agreement () on May 17, 2017, Canada and the European Commission agreed to start the provisional application of the agreement on September 21, 2017.
The European Union and Japan announced on July 6, 2017 that they reached an agreement in principle on the main elements of an Economic Partnership Agreement (EPA).
In theory, the common European market works based on principles that protect intra-cross-border investments. In practice, can these principles be reconciled with dozens of intra-EU still in place?
In September 2014, the European Commission refused to register a petition signed by over three millioncitizens requesting the Commission to stop trade and investment negotiations with the United States and refrain from concluding the with Canada.
The European Court of Justice published its Opinion 2/15 on the European Union–Singaporeon May 16, 2017.
Can the European Union act alone in concluding agreements such asand the –Singapore ? Or must EU member states also ratify them? Advocate General Sharpston discusses the allocation of powers in the field of investment under EU law.
On February 15, 2017, the European Parliament approved the Comprehensive Economic and Trade Agreement (), signed by Canada and the European Union on October 30, 2016 after seven years of negotiations. The agreement was approved by 408 Members of the European Parliament and rejected by 254, with 33 abstentions. As reported in , this approval paves the […]
On December 13 and 14, 2016, the European Commission and the Canadian Government co-hosted exploratory discussions on establishing a multilateral investment court. Government representatives from several countries attended the closed-door meeting in Geneva. Upon concluding, the two hosts had vowed to “work expeditiously” to create a permanent investment court, building on the mechanism included in the agreement. The goal of […]
Following criticisms of CETA, academics propose reforms in EU trade and investment policy and negotiations
On December 5, 2016, the Belgian region of Wallonia published the Namur Declaration, proposing to changetrade policy and negotiations. The document was initially signed by 40 academics from several countries, including Paul Magnette, Minister-President of Wallonia. The region made the news in October 2016, when its parliament temporarily blocked the approval of by the Belgian […]
In September,officials recognized that the negotiations on the EU–U.S. Transatlantic Trade and Investment Partnership (TTIP) were unlikely to be concluded before the end of U.S. President Barack Obama’s mandate.
CETA signed; Canada and European Union to “work expeditiously” on creating a Multilateral Investment Court
On October 30, during the 16th European Union–Canada Summit held in Brussels, the two negotiating partners signed the Comprehensive Economic and Trade Agreement (), after seven years of negotiations.
Brexit and contentious topics complicate TTIP negotiations; public opposition continues
negotiation agenda to continue despite Brexit; MERCOSUR and Indonesia at sight
United Kingdom makes trade and investment negotiation moves for post-Brexit era
to be concluded as a mixed agreement; commission hopes for signing in october
partners conclude 13th negotiating round in auckland; three further rounds in 2016
India takes steps to reform its investment policy framework after approving new model
On July 8, 2016, Sajid Javid, former Business Secretary for the United Kingdom, launched preliminary talks with India on a future trade relationship between the two countries as soon as Britain formally leaves the European Union.
On July 5, 2016, the European Commission proposed to the Council that the Canada–European Union—agreed to in 2014 and re-concluded in February 2016—be signed as a “mixed agreement,” requiring signature and ratification by each of the member states.
Legality of investor–state dispute settlement (including in the form of an Investment Court System) intrade agreements under EU law is a contentious issue. This article details four legal objections raised by academics and legal experts, and discusses the potential for a legal challenge of under EU law.
In a statement issued in early February 2016, the German Association of Judges (known by its German acronym, DRB) firmly rejected the proposal published by the European Commission on September 16, 2015 to establish an Investment Court System () under the Transatlantic Trade and Investment Partnership (TTIP) between the European Union and the United States.
On December 2, 2015, the European Union and Vietnam signed a free trade agreement (), closing three years of negotiations.
All 751 Members of the European Parliament (MEP) will have comprehensive access to all confidential documents relating to TTIP negotiations.
ICSID tribunal dismisses final claim for compensation in relation to Hungary’s 2008 termination of power purchase agreement
Electrabel S.A. v. Republic of Hungary,Case No. ARB/07/1
This paper provides an overview of how the European Union and the United States promote labour rights in trade and investment agreements. It then warns that language in the investment and regulatory coherence chapters may contradict the language in the labour rights chapters. Finally, the paper suggests ways that TTIP can be redesigned to benefit workers and promote employment, based on interviews with 23 eminent scholars as well as original ideas from the author.
At a March 18, 2015 meeting at the European Parliament’s International Trade Committee,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 […]