The EU has published its proposal for an Investment Court System, a reformed approach on investment protection and a more transparent system for resolving disputes between investors and states under the Transatlantic Trade and Investment Partnership (TTIP).
The final text aims to safeguard the right to regulate and create a court-like system with an appeal mechanism based on clearly defined rules, with qualified judges and transparent proceedings. The proposal also includes additional improvements on access to the new system by SMEs. SMEs will, under the new proposal, benefit from faster proceedings and enjoy privileged treatment in comparison with large multinational companies.
The EU will resume negotiations with the US on the subject of investment protection and resolution of investment disputes, and the Investment Court System.
Separately, the European Commission and other countries will also start work on setting up a permanent International Investment Court. This would lead to the full replacement of the "old ISDS” mechanism with a modern, efficient, transparent and impartial system for international investment dispute resolution.