Investment Treaty News – ALBA moves forward with plan to create regional investment arbitration alternative to ICSID at 7th Summit

“Members of the Bolivarian Alliance for the Peoples of Our America (“ALBA”) are moving forward with a plan to create a regional arbitration centre intended to replace the often criticized International Centre for Settlement of Investment Disputes (“ICSID”). The final declaration of the 7th ALBA Summit, which took place between October 16th and 17th in Cochabamba, Bolivia, instructed a dispute resolution working group to advance its work on the issue and develop concrete proposals in the near term.”
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