Canadian Prime Minister Justin Trudeau has boasted of his commitment to progressive economic, environmental and social policies. At the same time, has been a passionate warrior in his pursuit and defence of so-called ‘free trade’ agreements.
A common provision allowing foreign investors to sue host governments has become a ticking time bomb inside trade agreements. Some countries are now refusing to agree to the provision and are questioning its legal legitimacy. Jess Hill investigates.
Westwater Resources, an energy materials development company, announced the filing of a request for arbitration against the Republic of Turkey for the taking of its Temrezli and Şefaatli uranium projects in June 2018.
Tribunals still grappling with the intra-EU question, especially those in ECT cases, are certain to pay great attention to the carefully crafted Vattenfall decision. Its reasoning may well serve as a blueprint for further decisions and awards in similar cases.
International investment agreements, specifically bilateral investment treaties and the investment chapters in free trade agreements, have come under the spotlight for what are seen as skewed provisions that grant excessive rights to foreign investors.