Position paper published on ISDS and the proposed Multilateral Investment Court
GUE/NGL MEPs on the European Parliament’s International Trade Committee have published a position paper in relation to the controversial ISDS and the proposed Multilateral Investment Court.
The position paper proposes reforms which could mitigate the worst impacts of ISDS and the Multilateral Investment Court proposal.
Investor to State Dispute Settlement (ISDS) is an umbrella term for any type of arbitration in which investors can claim money from states when these formulate policies that threaten the investors’ profits.
ISDS has been the most controversial aspect of the much-protested recent free trade agreements, TTIP and CETA.
The Multilateral Investment Court is a proposed multilateral arbitration court that would execute the ISDS / arbitration chapters in the EU’s trade agreements as well as various trade agreements world wide.
The Multilateral Investment Court has been proposed by the European Commission amidst the widespread dissent over the ISDS chapters in TTIP, CETA and other EU free trade agreements.
The position paper has been presented to a United Nations working group that is currently addressing the issue of reforms to ISDS and multilateral investment dispute resolution.