ICS

Toward a Code of Conduct for Investment Adjudicators: Can ethical standards salvage ISDS?

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.

News  |  June 27, 2019

CJEU finds ICS in Canada–EU CETA to be in line with EU law

The CJEU has deemed that the ICS included in the Canada–EU CETA is consistent with EU law, issuing its final opinion on April 30, 2019.

News  |  April 23, 2019

European Economic and Social Committee recommends improvements, clarifications for MIC discussions

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 MIC, supporting discussions on ISDS reform while noting areas for improvement.

News  |  April 23, 2019

CJEU Advocate General finds ICS in line with EU law, final court ruling pending

CJEU Advocate General Yves Bot issued a non-binding opinion on January 29, 2019, deeming that the ICS included in the Canada–EU CETA is compatible with EU law. Bot assessed the ICS against the EU Treaty, the TFEU and the EU Charter of Fundamental Rights.

News  |  December 21, 2018

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 EU–Singapore Investment Protection Agreement (IPA).

News  |  July 30, 2018

Update on EU trade and investment negotiations: Japan, Vietnam, Australia, New Zealand, Mexico

On July 17, 2018, EC President Jean-Claude Juncker and Japanese Prime Minister Shinzo Abe signed the Japan–European Union (EU) Economic Partnership Agreement (JEEPA).

News  |  April 24, 2018

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.

News  |  December 21, 2017

EU–Japan EPA negotiations finalized without investment; EU–Mexico updated FTA nears completion

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.

News  |  December 21, 2017

EU continues efforts toward establishing multilateral investment court, despite sharp criticism

Beyond advancing its Investment Court System (ICS) proposal in bilateral negotiations, the European Union continues its efforts toward establishing a multilateral investment court (MIC).

News  |  December 21, 2017

NAFTA 2.0: Canada, Mexico and U.S. negotiation rounds move into the first quarter of 2018

The three parties to the North American Free Trade Agreement (NAFTA) held the third, fourth and fifth rounds of renegotiation (Ottawa, September 23–27; Arlington, October 11–17; and Mexico City, November 17–21). The next round of NAFTA renegotiations is scheduled for January 23–28, 2018 in Montreal.

News  |  December 21, 2017

Belgium requests CJEU for an opinion on the compatibility of ICS in CETA with EU law

On September 6, 2017, Belgium submitted to the Court of Justice of the European Union (CJEU) a request for an opinion on the compatibility of the ICS with the European Treaties.

News  |  September 26, 2017

Canada–EU CETA to be provisionally applied as of September 21, 2017

After Canada’s ratification of the Comprehensive Economic and Trade Agreement (CETA) on May 17, 2017, Canada and the European Commission agreed to start the provisional application of the agreement on September 21, 2017.

The Power to Conclude the New Generation of EU FTAs: AG Sharpston in Opinion 2/15

Can the European Union act alone in concluding agreements such as CETA and the EU–Singapore FTA? Or must EU member states also ratify them? ECJ Advocate General Sharpston discusses the allocation of powers in the field of investment under EU law.

News  |  March 13, 2017

CETA approved by EU Parliament; provisional application depends on ratification by Canada

On February 15, 2017, the European Parliament approved the Comprehensive Economic and Trade Agreement (CETA), 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 ITN, this approval paves the […]

News  |  March 13, 2017

European Union and Canada co-host discussions on a multilateral investment court

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 CETA, the two hosts had vowed to “work expeditiously” to create a permanent investment court, building on the ICS mechanism included in the agreement. The goal of […]

News  |  December 12, 2016

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 (CETA), after seven years of negotiations.

News  |  August 10, 2016

CETA to be concluded as a mixed agreement; Commission hopes for signing in October

On July 5, 2016, the European Commission proposed to the Council that the Canada–European Union CETA—agreed to in 2014 and re-concluded in February 2016—be signed as a “mixed agreement,” requiring signature and ratification by each of the EU member states.

News  |  May 16, 2016

Canada–European Union CETA re-concluded in February to incorporate EU ICS proposal

Responding to EU requests, Canadian and EU officials reopened negotiations of the Comprehensive Economic and Trade Agreement (CETA) concluded in 2014 to reformulate the agreement’s investor–state dispute settlement (ISDS) clause. Re-concluded on February 29, the CETA now includes a standing tribunal and an appeals mechanism, in line with the EU ICS proposal, also included in the […]

Is ISDS in EU Trade Agreements Legal under EU Law?

Legality of investor–state dispute settlement (including in the form of an Investment Court System) in EU trade 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 ISDS under EU law.

News  |  February 29, 2016

Commission attempts to reopen CETA negotiations with Canada to revisit ISDS

EU officials are said to have requested the new Canadian federal government to revisit the ISDS clause in the Comprehensive Economic and Trade Agreement (CETA), according to reports by CBC News on January 21, 2016.

News  |  February 29, 2016

Germany’s judges and public prosecutors reject proposed investment court system in TTIP

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 (ICS) under the Transatlantic Trade and Investment Partnership (TTIP) between the European Union and the United States.

News  |  February 29, 2016

Standing tribunal included in European Union–Vietnam FTA 

On December 2, 2015, the European Union and Vietnam signed a free trade agreement (FTA), closing three years of negotiations.