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CETA and TTIP: A New “Platinum” Standard for ISDS?

Published online by Cambridge University Press:  18 May 2017

Ko-Yung Tung
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Type
Forum Nonconcurrence: The Resolution of Investment Treaty Disputes
Information
Proceedings of the ASIL Annual Meeting , Volume 110 , 2016 , pp. 54 - 59
Copyright
Copyright © American Society of International Law 2016

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References

1 Trans-Pacific Partnership, ch. 5, at https://ustr.gov/trade-agreements/free-trade-agreements/trans-pacific-partnership/tpp-full-text.

2 See, e.g., Matt Bai, Why Obama Is Happy to Fight Elizabeth Warren on the Trade Deal, Yahoo! News (May 9, 2015), at https://www.yahoo.com/politics/why-obama-is-happy-to-fight-elizabeth-warren-on-118537612596.html.

3 Many major business and manufacturing groups have publicly endorsed the TTP. See, e.g., Ethan Baron, Trans- Pacific Partnership Trade Deal Endorsed by Major Tech Group, The Mercury News: Silicon Beat (Mar. 30, 2016), at http://www.siliconbeat.com/2016/03/30/trans-pacific-partnership-trade-deal-endorsed-by-major-techgroup/?doing_wp_cron=1464365093.5400400161743164062500; Catherine Ho, PowerMoves: Business Groups Endorse TPP, New State Lobbying Laws, Wash. Post (Jan. 6, 2016), at https://www.washingtonpost.com/news/powerpost/wp/2016/01/06/powermoves-business-groups-endorse-tpp-new-state-lobbying-laws (U.S. Chamber of Commerce); Gabrielle Levy, Manufacturers Group Backs Trans-Pacific Partnership, U.S. News & World Rep. (Jan. 5, 2016), at http://www.usnews.com/news/articles/2016/01/05/obama-trade-deal-secures-major-endorsement-from-national-manufacturers-association; Vicki Needham, Business Leaders Announce Support for TPP, The Hill (Jan. 5, 2016) at http://thehill.com/policy/finance/264753-business-leaders-announce-support-for-tpp.

4 See Hillary Clinton, Secretary of State, Remarks at Techport Australia (Nov. 15, 2012), at http://www.state.gov/secretary/20092013clinton/rm/2012/11/200565.htm.

5 Business Leaders Applaud Release of TPP Text, Business Forward (Nov. 5, 2015), at http://www.businessfwd.-org/blog/business-leaders-applaud-release-of-tpp-text.

6 See, e.g., EU-US Trade Negotiations (TTIP): Investor Dispute Mechanism Trojan Horse Must Be Excluded from TTIP, European Free Alliance (Jan. 21, 2014), at http://www.greens-efa.eu/eu-us-trade-negotiations-ttip-11492.html.

7 Id.

8 See George Monbiot, This Transatlantic Trade Deal Is a Full-Frontal Assault on Democracy, The Guardian (Nov. 4, 2013), at http://www.theguardian.com/commentisfree/2013/nov/04/us-trade-deal-full-frontal-assault-on-democracy; but see Greg Sargent, Is TPP Trade Deal a Massive Giveaway to Major Corporations? An Exchange Between Obama and Sherrod Brown, Wash. Post (Apr. 27, 2015), at http://www.washingtonpost.com/blogs/plumline/wp/2015/04/27/is-tpp-trade-deal-a-massive-giveaway-to-major-corporations-an-exchange-between-obama-and-sherrod-brown.

9 See generally European Federation for Investment Law and Arbitration, A Response to the Criticism Against ISDS (May 17, 2015), at http://efila.org/wp-content/uploads/2015/05/EFILA_in_response_to_the-criticism_of_ISDS_final_draft.pdf.

10 Andrew Newcombe & Lluís Paradell, Law and Practice of Investment Treaties 1 b–9 (2009).

11 Id.

12 Id.

13 Id.

14 A.H. Feller, The Mexican Claims Commissions, 1923–1934: A Study in the Law and Procedure of International Tribunals (1935).

15 What Are the Bretton Woods Institutions?, Breton Woods Project (Aug. 23, 2005), at http://www.bretton-woodsproject.org/2005/08/art-320747.

16 Id.

17 Ian Goldin, Halsey Rogers & Nicholas Stern, The Role and Effectiveness of Development Assistance: Lessons from World Bank Experience, World Bank 5, 31 (Mar. 1, 2002),, available at http://siteresources.worldbank.org/DEC/Resources/roleofdevelopment.pdf.

18 Id. at vi (“Promoting development requires spurring the growth of private investment and productivity.”).

19 About ICSID, ICSID, at https://icsid.worldbank.org/apps/icsidweb/about/pages/default.asp.

20 Convention on the Settlement of Investment Disputes Between States and Nationals of Other States, pmbl., Mar. 18, 1965, 17 U.S.T. 1270, 575 U.N.T.S. 159 [hereinafter ICSID Convention].

21 Id. Art. 25(1).

22 ICSID Convention, supra note 20, Art. 25.1.

23 See Ko-Yung Tung, Foreign Investors vs Sovereign States: Towards a Global Framework, BIT by BIT, in Int'l Econ. L. & Nat’l Autonomy 243 (Meredith Kolsky Lewis & Susy Frankel eds., 2010).

24 Comprehensive Economic and Trade Agreement, E.U.-Can., Sept. 26, 2014.

25 Transatlantic Trade and Investment Partnership, ch. 2.

26 CETA, supra note 24, Art. 8.27; id. Art. 5.

27 For example, the inconsistent decisions reached in CME v. Czech Republic and Lauder v. Czech Republic, two cases with similar facts, has attracted attention and criticism. CME Czech Republic B.V. v. Czech Republic, Partial Award (UNCITRAL Arbitration Proceedings, Sept. 13, 2001), available at http://www.italaw.com/sites/default/files/laws/italaw6080.pdf; Lauder v. Czech Republic, Final Award (UNCITRAL Arbitration Proceedings, Sept. 3, 2002), available at http://www.italaw.com/documents/LauderAward.pdf; see also Sander Levin, TPP in Focus: Recent NAFTA Investment Award Demonstrates Need for Reform in TPP, Ways and Means Comm. Democrats (Mar. 25, 2015), at http://democrats.waysandmeans.house.gov/blog/tpp-focus-recent-nafta-investment-award-demonstrates-need-reform-tpp (outlining the inconsistent interpretation of the “minimum standard of treatment”).

28 CETA, supra note 24, Art. 8.28.

29 ICSID Convention, supra note 20, Art. 52(1).

30 Daniel Hurst, Australia Wins International Legal Battle with Philip Morris Over Plain Packaging, The Guardian (Dec. 17, 2015).

31 CETA, supra note 24, Art. 8.4.

32 TTIP, supra note 25, Art. 2(1).

33 CETA, supra note 24, Art. 8.36.

34 For example, Public Citizen called the final TPP text “worse than expected,” and says the TPP would “undermine human rights.” Public Citizen Trans-Pacific Partnership (TPP): More Job Offshoring, Lower Wages, Unsafe Food Imports, Pub. Citizen, at http://www.citizen.org/TPP.

35 See, e.g., Stuart Jeffries, What Is TTIP and Why Should We Be Angry About It, The Guardian (Aug. 3, 2015), at https://www.theguardian.com/business/2015/aug/03/ttip-what-why-angry-transatlantic-trade-investment-partnership-guide (explaining that critics are worried ISDS could threaten European hospital services, food regulations, and data protection laws); Dave Johnson, Another Secret ‘Trade’ Deal Leaks, Shows Corporations Still Control Trade Process, Huff. Post (May 3, 2016), at http://www.huffingtonpost.com/dave-johnson/another-secret-trade-deal_b_9831992.html (articulating fears that corporations, not sovereigns, will be choosing policy).

36 Dave Johnson, Now We Know Why Huge TPP Trade Deal Is Kept Secret From The Public, Campaign For America's Future (Mar. 27, 2015), at https://ourfuture.org/20150327/now-we-know-why-huge-tpp-trade-deal-iskept-secret-from-the-public (describing negative reactions from the president of the Communications Workers of America, Ohio Senator Sherrod Brown, WikiLeaks, and Public Citizen).