We are told that when trade is free, there will be more trade and nations will prosper. To achieve even freer trade the nations of the world must enter into free trade agreements.
Malaysia’s Parti Keadilan Rakyat VP Nurul Izzah Anwar has accused the Ministry of International Trade and Industry of bowing down to pressure when it agreed to clauses on investor-state dispute settlement in negotiations for the Trans Pacific Partnership (TPP) agreement.
The Turkish power firm Karkey Karadeniz Elektrik Uretim (KKEU) has approached the Washington based International Centre for Settlement of Investment Disputes (ICSID) against Pakistan’s water and power ministry and also served a Rs33billion damage notice on the ministry, sources said on Wednesday.
US pharmaceutical giant Eli Lilly and Co. has escalated a challenge it launched last year against Canada’s patent rules under the North American free-trade agreement, and is now demanding $500-million in compensation after the company lost its Canadian patents on two drugs.
Concerns about objectivity and accountability of investment dispute arbitrators have prompted calls for tougher ethical guidelines as caseloads have exploded.
Transnational Dispute Management are pleased to announce a forthcoming special issue: "Reform of Investor-State Dispute Settlement: In Search of A Roadmap."
Japan Tobacco Inc., Asia’s biggest listed cigarette maker, sued the government of Thailand over a plan to increase the size of health warnings on cigarette packages, claiming the move is unconstitutional.
Latin American states are the only ones in the world that have decided to withdraw from the ICSID Convention. It is also the only region in the world considering the necessity to find an alternative to ICSID mechanism.
Philip Morris International expects a decision to be made this month or next on a challenge by Uruguay as to whether an international tribunal set to hear bilateral investment treaty complaints has jurisdiction over the matter.