From: CUTS International
The next phase of IIA reforms
Dr Saurabh Garg, Joint Secretary (Investments), Ministry of Finance, India
Columbia Center on Sustainable Investment
In his recent piece in Columbia FDI Perspectives (published by Columbia Center on Sustainable Investment) Dr. Saurabh Garg (Joint Secretary (Investments), Ministry of Finance, India), argues that the next phase of international investment agreement (IIA) reforms should be more comprehensive and balanced, than it has hitherto been.
Dr. Garg points out that the future IIA regime should be capable of taking into account different socio-economic conditions of host countries, and allow utilization of alternative modes for investor-state dispute settlement (ISDS). Reforms should examine costs and benefits of current and any proposed ISDS mechanism. A balance needs to be maintained between host country responsibilities and investor obligations, as well as between the defensive and offensive investment interests of countries.
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