The government of Pakistan would not be made liable for private investor disputes. Alternative dispute resolution mediation would be made compulsory, while foreign arbitrators would be decided in advance through consensus.
The goal of Foreign Affairs Minister Chrystia Freeland is to revamp Chapter 11 so it more closely mirrors the investor-state dispute-resolution mechanism that forms part of the 2016 Canada-European Union trade deal.
The Protocol draws significantly on the Brazilian model investment agreement, which stands out for departing from the traditional design of Bilateral Investment Treaties, particularly by excluding the possibility of investor-State dispute settlement (ISDS).
« La saisine permettra de clarifier la légalité de la clause d’arbitrage qui concerne non seulement le CETA, mais également le JEFTA avec le Japon et le VEFTA avec le Vietnam » explique Michel Cermak, chargé de recherche au CNCD-11.11.11
Belgium has requested an opinion from the European Court of Justice on the ’Investment Court System’ included in the EU-Canada trade deal, to determine if the ICS is compatible with the European Treaties
This far-flung peninsula in the North Atlantic seems an unlikely place for an international trade dispute. But an American company’s scuttled plans to build a quarry here have turned these quiet fishing grounds into a case study.