Multilateral Investment Court

• Related documents and specialised websites:
• The Commission proposal (COM 493 Final)

Key points:

• The EESC welcomes the EU Commission's efforts towards a multilateral reform of ISDS under the auspices of UNICITRAL and considers it vital that the EU remains open to all approaches and ideas that have surfaced regarding ISDS reform.
• The EESC particularly welcomes the increased commitment towards transparency, allowing non-governmental organisations to monitor and even participate in the discussions.
• The EESC considers it vital that Working Group III of UNCITRAL will welcome the input of all relevant stakeholders in an effort to increase inclusiveness, and calls for an improved and more balanced invitation of stakeholders. The EESC further calls on the Commission to use its best endeavours to involve the EESC actively in the work of Working Group III.
• The EESC has always recognised that FDI is an important contributor to economic growth and that foreign investors must have global protection against direct expropriation, be free from discrimination and enjoy equivalent rights to domestic investors.
• However, equally, the EESC has always underlined that the right of the States to regulate in the public interest must not be undermined.
• In the context of establishing a Multilateral Investment Court (MIC), the EESC underlines that a number of fundamental questions have to be addressed: the scope, the protection of public interest, accessibility and relations with domestic courts.