A written submission from Japan published by the ECT secretariat rejected language on the “right to regulate” and changes to the investor-state dispute resolution mechanism.
Tanzania’s reforms show that the claim that African states should regard ISDS mechanism as the preferred method for resolving investment disputes is not only very contested, but that there are legitimate grounds for those contestations.
The hegemon aspirants in international investment law have already, and perhaps unwittingly, revealed their three step manual: Disguise, dismiss, divert.
In recent years, mediation has been actively discussed for the investor-state dispute settlement (ISDS) regime, particularly as a means of reducing costs and delays.
COVID-19 can increase liability for countries under international investment treaties. Developing countries face imminent challenges under such treaties.
Nigeria is undertaking series of reforms of the country’s bilateral investment treaties to attract responsible, inclusive, balanced and sustainable investments.
With the growing concern over the traditional ISDS system, it is highly unlikely that the AfCFTA will include an ISDS mechanism giving investors access to go to international arbitration under conventional international tribunals.
African states need to take a unified and proactive approach to investor-state dispute settlement (ISDS), in order to make a system that is fairer to Africa and more consistent.