Dispute Settlement Transparency in Europe's Evolving Investment Treaty Policy: Adopting the UNCITRAL Transparency Rules Approach
15 The Journal of World Investment & Trade 645-678 (2014)
34 Pages Posted: 25 Apr 2015
Date Written: 2014
In a number of documents released (and leaked) over the past two years, the European Commission has made clear that future treaty arrangements on investment between the European Union (EU) and third states will include robust provisions on transparency in investor-state dispute settlement. The Commission’s position reflects the acceptance of a “new normal” with respect to transparency in the investment treaty making practice of states. This article discusses the global context of the Commission’s conclusion and the rapid evolution of treaty provisions and arbitral rules on transparency in investor-state dispute settlement and non-disputing party participation. This article then analyses the Commission’s 2012 leaked draft negotiating text and reflects upon the Commission’s choice to adopt the 2013 UNCITRAL Rules on Transparency in Treaty-based Investor-State Arbitration for its future treaties.
Keywords: Investment Treaties; ISDS; Investor-state Arbitration; Transparency; UNCITRAL; European Union
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