arbitrage in het EU-handelsbeleid - VLEVA 9 februari 2016 arbitrage in het EU-handelsbeleid - VLEVA

(Rechts)zekerheid Rechtszekerheid: belangrijke basis om ondernemersvriendelijk klimaat te creëren die ten goede komt van de algemene welvaart Counterfactural: Venezuela onder Hugo Chavez Zwakke rechtszekerheid Misbruik van provisie ‘in the public interest’ inzake onteigening Meer dan 200 bedrijven (veel buitenlandse) onteigend zonder enige compensaties en op dubieuze gronden 2015: BBP -10%, 275% inflation, algemene tekorten van consumentengoederen IMF voorspellingen: 2016: -8% bbp & inflatie kan oplopen tot 720% Geen zekerheid want geen statistieken

Common Commercial Policy Vroeger Enkel markttoegang & niet bescherming voor investeringen van EU bedrijven + vice versa Investeringsbeleid: lidstaat bevoegdheid met gevolg grote verschillen investeringsbescherming tussen de verschillende lidstaten Ondermijning van het Europese handelsbeleid Nu Verdrag van Lissabon: uitbreiding exclusieve competentie EU naar FDI EU als één actor in investeringsonderhandelingen met derde landen Meer leverage om hoge standaarden op te leggen die rechtszekerheid bevorderen

Arbitrage: algemene visie Dynamische wetgeving EU voert een recalibratie uit om weer meer macht bij de staten te leggen “[…] it is clear that such investment chapters […] can all be categorized under the new generation of ‘re-calibrated’ IIAs [International Investment Agreements] which attempt to rectify the perceived pro-investor bias associated with past IIAS and international investment case law. Melo Araujo – The EU Deep Trade Agenda Laatste jaren enorme evolutie Kritiek op arbitrage in kader CETA erkent deze evolutie te weinig en is vaak gebaseerd op achterhaalde feiten

‘Right to Regulate’ “The Union's trade and investment policy has to fit with the way the EU and its Member States regulate economic activity within the Union and across our borders. Investment agreements should be consistent with the other policies of the Union and its Member States, including policies on the protection of the environment, decent work, health and safety at work, consumer protection, cultural diversity, development policy and competition policy. Investment policy will continue to allow the Union, and the Member States to adopt and enforce measures necessary to pursue public policy objectives.” The EU Investment Policy Communication (2010)

Legitimate expectations vs. regulatory chill “When the threat of litigation represents an inhibiting factor in the policy-makers’ decisions to adopt regulatory measures in the public interest” vs. A tribunal may take into account whether a party made “a specific representation to an investor to induce a covered investment, that created a legitimate expectation, and upon which the investor relied in deciding to make or maintain the covered investment” (article 10 (9)(4) Chapter 10 CETA Investors cannot rely on broad & vague representation made by the host state concerning its regulatory framework Change in the legislation of a Member State will not constitute violation of FET(fair & equitable treatment) standard unless a specific and unambiguous representation was made by that member state that no such changes would occur. Risico op regulatory chill aanzienlijk afgenomen

Onteigening “Except in the rare circumstance where the impact of a measure or series of measures is so severe in light of its purpose that it appears manifestly excessive, non discriminatory measures by a party that are designed and applied to protect legitimate public policy objectives such as public health, safety, and the environment do no constitute indirect expropriation” Article X.11 (3) Chapter 10 CETA Heel moeilijk tot quasi onmogelijk voor een bedrijf om onteigening aan te klagen indien dit gebeurt voor het publiek belang

ISDS Transparantie Niet ongelimiteerd: “Confidential business information” “UNCITRAL Rules on Transparency in Treaty Based Investor-State Arbitration” Requests for consultations, pleadings, minutes & transcripts of hearings, orders of awards must be made available to the public. Arbitral tribunal may even decide to make other document available Onpartijdigheid Arbitrators must have “expertise in public international law, in particular international investment law Arbitrators must also comply with International Bar Association Guidelines on Conflict of Interest in International Arbitartion

Conclusies Rechtszekerheid cruciaal voor ondernemers Investeringsbescherming en arbitrage maken hier deel van uit Grote evolutie in investeringsbescherming EU afgelopen jaren Voka steunt volledig EU in de inspanningen die zij geleverd hebben

Bedankt voor jullie aandacht