Call for the stopping of the Investor-State Dispute Settlement (ISDS)!
The CSOs voiced their opposition to the investor-state dispute settlement (ISDS) regime and the far-reaching rights for foreign investors enshrined in trade and investment treaties. To do so, they signed a letter addressed to the governments and to the UNCITRAL Member States. The latter are asked to refrain from signing any new trade and investment pacts that include these extraordinary rights for foreign investors, to terminate existing ISDS-enforced treaties, and to use the UNCITRAL process to address the fundamental problems of the current system. The UNCITRAL, a UN body dealing with international commercial issues, organized several meeting within the Working Group in order to discuss this issue.
This public letter is calling the governments to put their efforts into discussing on how to move away from the current ISDS regime, which is seen as politically and economically untenable. The situation is urgent and fundamental reforms must be undertaken!
Here you can find the public letter adressed to UNCITRAL Member States.