IIA Issues Note on Phase 2 of IIA Reform released

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Jun 8, 2017, 7:33:14 AM6/8/17
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From: CUTS International


IIA Issues Note on Phase 2 of IIA Reform released


It is my pleasure to share with you UNCTAD’s latest IIA Issues Note, which sets out and discusses the pros and cons of 10 policy options for reforming old-generation international investment agreements (IIAs).


Highlights

·       IIA reform has made significant progress, with most new treaties following UNCTAD’s Road Map for IIA Reform (phase 1 of IIA reform). However, much work remains to be done to modernize the existing stock of old-generation IIAs (phase 2 of IIA reform).

·      Several arguments speak for embarking on phase 2 of IIA reform. Old treaties abound: more than 2,500 IIAs in force today were concluded before 2010 (95 per cent of all treaties in force); old treaties “bite”: as of end-2016, most known ISDS cases were based on those treaties; and old treaties perpetuate inconsistencies: their continued existence creates overlaps and fragmentation in treaty relationships and poses interaction challenges (particularly with newer treaties).

·       Countries have numerous options for modernizing their stock of old-generation treaties. Determining which reform option is “right” for a country in a particular situation requires a careful and facts-based cost-benefit analysis, while addressing a number of broader challenges.

·        This IIA Issues Note, a prelude to the World Investment Report 2017 (to be launched on 7 June 2017), presents 10 options to reform old-generation treaties that countries can adapt and adopt in line with their specific reform objectives.

  

Best regards,


James X. Zhan

Director, Investment and Enterprise

Lead, World Investment Report

United Nations Conference on Trade & Development

Palais des Nations, Geneva

www.unctad.org/wir

investmentpolicyhub.unctad.org


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