The Court of Justice for the European Union fired a significant shot at investor-state dispute settlement (ISDS), and the result is likely to be much more than just a flesh wound.
If all parliaments in member states have to approve international trade deals, future trade deals may take even longer than they already do to come to fruition.
The European Union will have to secure approval from national parliaments in order to finalise a free trade deal with Singapore. The bloc’s top court ruled that the agreement in “its current form” cannot be handled by the Commission acting alone.
Dans un avis très attendu, la Cour de justice européenne estime que le traité de libre-échange signé en septembre 2013 entre Singapour et l’Union européenne devra être validé par la quarantaine de parlements nationaux de l’UE.
The role of third party funding in investment arbitration raises unique concerns for policy-makers because, ultimately, a State’s taxpayers will be liable for satisfaction of any award favoring the claimant.
L’objectif de ces nouvelles négociations est d’amener l’instrument commercial liant l’UE et le Mexique au niveau des accords commerciaux comme le CETA, référence désormais brandie par la Commission européenne pour l’ensemble de ses négociations futures.