This chapter examines how the EU is contributing to the ISDS reform. It analyses how the new international agreements concluded by the EU with third States (Canada, Chile, Singapore, and Vietnam) may promote a progressive institutionalization of ISDS in international investment law. It further analyses the practice of the EU within the codification process undertaken by UNCITRAL Working Group III, with the objective of comparing if the proposals that the EU has made in this multilateral forum to address the general concerns identified are consistent with the EU agreements already concluded. The chapter focuses on the procedural mechanisms proposed by the EU to enhance the consistency, coherence, predictability, and correctness of arbitral decisions, in particular through the creation of an appellate body and a standing mechanism to settle investment claims as well as through the avoidance of both frivolous claims and the disruptive effects of multiple proceedings.

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The International Investment Agreements Concluded by the European Union: Moving Toward an Institutionalization of International Investment Law

  • Francisco Pascual-Vives

摘要

This chapter examines how the EU is contributing to the ISDS reform. It analyses how the new international agreements concluded by the EU with third States (Canada, Chile, Singapore, and Vietnam) may promote a progressive institutionalization of ISDS in international investment law. It further analyses the practice of the EU within the codification process undertaken by UNCITRAL Working Group III, with the objective of comparing if the proposals that the EU has made in this multilateral forum to address the general concerns identified are consistent with the EU agreements already concluded. The chapter focuses on the procedural mechanisms proposed by the EU to enhance the consistency, coherence, predictability, and correctness of arbitral decisions, in particular through the creation of an appellate body and a standing mechanism to settle investment claims as well as through the avoidance of both frivolous claims and the disruptive effects of multiple proceedings.