Need for implementation of Multilateral agreement on Investment vis-à-vis Dispute Settlement in WTO

– By Aayushi Singh*

Introduction – Cogs of the same wheel – Trade and FDI

From where do we get the much-assumed co-relation between trade and Foreign Direct Investment (FDI)?  Let us draw from the theory of Grazia Ietto-Gillies who opined that the reason for the growth of FDI and MNCs were rooted in neoclassical economics based on macro-economic principles.[1] These theories were based on the classical theory of trade in which the motive behind the trade was a result of the difference in the costs of production of goods between two countries, focusing on the low cost of production as a motive for a firm’s foreign activity.[2] The relation between trade and FDI flows from this. Analytical work has recently been developed by OECD in order to explore the nature of these links in quantitative terms.[3]
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Government of India is inviting Proposals for engagement of Law Firms for Investor-State Disputes

By Sarthak Malhotra

The Government of India is inviting foreign and domestic law firms for the purpose of representing it in disputes under the BITs and other investment protection agreements. For this purpose, the firms are requested to submit a technical and financial proposal before 5:00 PM, February 19, 2016.

india_bit_claims_against_IndiaAccording to the Request for Proposal Document, the scope of work for such law firms would include advising the Government on legal issues arising out of the arbitration proceedings and prepare strategies in whatever capacity chosen by the Government.Read More »

Iraq accedes to ICSID: Signed and Ratified

by Sujoy Sur

Iraq has finally acceded to ICSID, and the sigh of finality is resounding because it is the first globally recognised and followed international arbitration framework to which it has acceded to. The Convention on the Settlement of Investment Disputes between States and Nationals of Other States (the ICSID Convention) was signed today on behalf of the Republic of Iraq by H.E. Dr. Sami Raouf Al-Araji, Chairman of the National Investment Commission.[1]

ICSID Convention Signing_Iraq.jpg Read More »

The Bits of Bilateral Arbitration Treaties (BATs):: Reflections from Investor-State Dispute Settlement (ISDS)

By Sarthak Malhotra

Mr. Gary Born proposed the idea of a ‘Bilateral Arbitration Treaty’ in his keynote speech on the occasion of the Kiev Arbitration Days titled as “BITs, BATs and Buts”. He proposed that the states could establish a regime whereby the commercial contractual disputes between parties of each state would be submitted to arbitration by default.

Gary Born_Bilateral Arbitration Treaty(BAT)_Criticism_Summary
Courtesy: http://www.legalservice.co.uk

Consent in Investment Arbitration and BITs

Like any other form of arbitration, Investment Arbitration is typically based on the consent of the host state and the investor. However, there are some peculiarities involved which need attention. Read More »