¿Hacia un tribunal multilateral de inversiones? propuestas de la Unión Europea para reformar la resolución internacional de conflictos

Laburpena

The international investment regime is currently undergoing a process of global reform that has its core focus on the revision of the arbitration as main mechanism of investor-state dispute settlement. Its demonstrated negative impact on the political decision-making of some States, along with its inherent shortcomings, such as the absence of transparency and the lack of independence of the arbitrators, have driven the ongoing movements for its redefinition. Trying to lead this process, the European Union (EU) has proposed the creation of a multilateral investment tribunal, as a single and permanent instance, to replace all the investor-state dispute resolution mechanisms included, not only in its agreements with third countries and in those of the Member States, but also in all treaties concluded by countries that accept its jurisdiction previously. Though relevant, for its potential to strengthen the international investment framework, the EU’s proposal has substantial shortcomings in its current terms, as revealed by the criticisms it has received. Therefore, the European project of a multilateral investment court will have to be deeply reconsidered in the forthcoming months, if it truly aspires to contribute to a global consensus that may improve the international investment governance.