Добавил:
Upload Опубликованный материал нарушает ваши авторские права? Сообщите нам.
Вуз: Предмет: Файл:
ответы МТС.docx
Скачиваний:
0
Добавлен:
19.09.2019
Размер:
156.82 Кб
Скачать

30. Discuss the nature of international investment disputes.

The evolving complexity of the IIA system may also create challenges. Amongst others, the complexity of today's IIA network makes it difficult for countries to maintain policy coherence. Provisions agreed upon in one IIA may be inconsistent with those included in a different IIA. For developing countries with lower capacity to participate in the global IIA system, this complexity of the IIA framework is particularly hard to manage. Additional challenges arise from the need to ensure consistency between a country's national and international investment laws, and from the objective to design investment policies that best support a county's specific development goals.

Furthermore, even if governments conclude IIAs with general development goals in mind, these agreements themselves usually do not directly deal with problems of economic development. While IIAs rarely contain specific obligations on investment promotion, some include provisions that advocate information exchange about investment opportunities, encourage the use of investment incentives, or suggest the establishment of investment promotion agencies (IPAs). Some also contain provisions that address public policy concerns related to development, such as exceptions related to health or environmental issues, or exceptions related to essential security. Some IIAs also grant countries specific regulatory flexibility, amongst others when it comes to making commitments for investment liberalization.

As the types and contents of IIAs are becoming increasingly diverse and as almost all countries participate in the conclusion of new IIAs, the global IIA system has become extremely complex and hard to see through. Moreover, the number of IIA-based investor-State dispute settlement cases has also been on the rise in recent years. By the end of the year 2008, the total number of known cases reached 317.

An additional burden arises from the growing amount of investor-State disputes, which are increasingly lodged against governments from developing countries. These disputes are very costly for the affected countries, which have to shoulder substantial expenses for the arbitration procedures, for the payment of lawyer's fees and, most importantly, for the financial compensation to be paid to the investor in case the tribunal decides against the host country. The problem is further exacerbated by inconsistencies in the case law that is emerging from investor-State disputes. Increasingly, tribunals addressing similar cases come to differing interpretations and decisions. This increases the uncertainty among countries and investors about the outcome of a dispute.

UNCTAD is widely recognized for its research and policy analysis on IIAs and functions as an important forum for intergovernmental discussions and consensus building on issues related to international investment law and development.

Common venues through which arbitration is sought are:

  • the International Centre for Settlement of Investment Disputes (ICSID);

  • the United Nations Commission on International Trade Law (UNCITRAL);

  • the International Chamber of Commerce (ICC).