Category Archives: Africa

Signature of Canada-Nigeria FIPA, by José Ángel Rueda

05 Sunday May 2013

Posted by in Africa, International Trade, Investment

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Here in Europe we are longing for the publication by the European Union of the list of pre-2009 BITs that its 27 Member States want to maintain in force or permit to enter into force with third States pursuant to Articles 2 and 4(2) of Regulation 1219/2012.[1] This list will clarify the status of some 1,200 BITs entered into by EU Member States between 1959 and 2009 – undoubtedly a major event for international investment law.[2]  Continue reading »

UNCTAD publishes new statistics on investment treaty arbitration, by José Ángel Rueda

18 Thursday Apr 2013

Posted by in International Arbitration, Investment

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UNCTAD has published a new edition of its statistics on investment treaty arbitration. Despite its title, “Recent Developments in Investor-State Dispute Settlement (ISDS)”,[1] it just refers to investment treaty arbitration, as stated above, because an inquiry on investment disputes arising out solely of a contract between a foreign investor and a State entity is almost impossible to achieve (arbitration courts apply strict confidentiality on these matters).   Continue reading »

ICSID Case Commentary: Tethyan Copper Company Pty. Limited v. The Islamic Republic of Pakistan (ICSID Case No ARB/12/1), Decision on Claimant’s Request for Provisional Measures, 13 December 2012, by Nida Mahmood

08 Monday Apr 2013

Posted by in Asia, International Arbitration, Investment

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Facts

On 29th July 1993, BHP Minerals International Exploration Inc. (BHP) and the Balochistan Development Authority (BDA), a statutory corporation of the Province of Balochistan in Pakistan, entered into a Chagai Hills Exploration Joint Venture Agreement (CHEJVA) for exploration of deposits of gold, copper, and other minerals in the Chagai district of Balochistan.  However, pursuant to two subsequent contracts, (i) an option Agreement and (ii) an Alliance Agreement with BHP, the Claimant, Tethyan Copper Company Pty Limited, a company constituted and registered under the laws of Australia and owned in equal shares by Antofagasta Plc, a company incorporated in the United Kingdom with its headquarters in Chile, and Barrick Gold Corporation, a company incorporated in Canada, took over from BHP the exploration activities in the Chagai Hills exploration area. Continue reading »

Launch of FTA talks between the EU and Morocco formally announced, by José Ángel Rueda

04 Monday Mar 2013

Posted by in Africa, Europe, International Trade, Investment

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On 1 March 2013 José Manuel Barroso, President of the European Commission, paid an official visit to Morocco. At the end of the round of meetings held with H.M. King Mohammed VI and Prime Minister Abdelilah Benkirane in Rabat, Mr. Barroso formally announced the launch of negotiations between the EU and Morocco for the conclusion of a so-called Deep and Comprehensive Free Trade Agreement or DCFTA (English for “Accord de Libre Échange Complet et Approfondi”).[1]

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Implications of Key BIT Provisions, by Nida Mahmood

11 Monday Feb 2013

Posted by in Africa, Asia, Caribbean, Europe, International Arbitration, Investment, Latin America, Middle East

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The aim of this paper is to review all the protective provisions found mostly in all BITs, whether coming from customary international law or enunciated through the BIT itself in order to illustrate the implications of those provisions so that a proper understanding of the obligations imposed therein on the host States can be illustrated.

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IMF Managing Director calls for openness for inward FDI in the Maghreb, by José Ángel Rueda

31 Thursday Jan 2013

Posted by in Africa, International Trade, Investment

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During the last stop of her recent African tour IMF’s Managing Director Christine Lagarde attended the fifth regional conference of finance ministers and central bank governors of the Maghreb region in Nouakchott, Mauritania where she again called for more foreign direct investment (FDI) towards Africa, this time to the Maghreb.[1]

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ICSID unveils 2011 award in M. Meerapfel Söhne AG v. Central African Republic (ICSID Case No. ARB/07/10), by José Ángel Rueda

16 Wednesday Jan 2013

Posted by in Africa, International Arbitration, Investment

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Pursuant to Rule 48(4) of its current Arbitration Rules, ICSID has just published excerpts of the final award (in French) dispatched to the parties on 12 May 2011 in M. Meerapfel Söhne AG v. Central African Republic (ICSID Case No. ARB/07/10).[1]

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IMF Managing Director highlights the importance of foreign investment during African tour, by José Ángel Rueda

12 Saturday Jan 2013

Posted by in Africa, International Trade, Investment

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IMF Managing Director Christine Lagarde has wrapped up an official tour to Africa. To date two speeches delivered by Mrs. Lagarde during her tour have been published at IMF’s website: the first one before the Malawian Confederation of Chambers of Commerce and Industry in Lilongwe on 5 January 2013[1] and the second one before the National Assembly of Ivory Coast in Abidjan on 7 January 2013.[2]

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Investment protection in Africa by Markus Burgstaller and Jonathan Ketcheson*

08 Tuesday Jan 2013

Posted by in Africa, International Arbitration, Investment

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OVERVIEW

Investment treaties provide a way for investors to mitigate sovereign risk problems, including those arising from changing regulatory frameworks. Companies investing in Africa may be able to structure their investment to take advantage of the protections provided by over 400 bilateral investment treaties which African countries have entered into with developed countries. For example, Egypt has entered into over 100 investment treaties, with both developed and developing countries, while Nigeria has entered into more than 20 such treaties, including with France, Germany, the Netherlands and the United Kingdom. Continue reading »

Impact of EU Regulation 1219/2012 on BITs Signed by Spain, by José Ángel Rueda

27 Thursday Dec 2012

Posted by in Africa, Asia, Caribbean, Europe, International Arbitration, Investment, Latin America, Middle East

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Following our post on the upcoming entry into force of EU Regulation 1219/2012 we hereby offer a short summary regarding its impact on the BITs signed by Spain with third countries (i.e., excluding those BITs signed with current or upcoming EU Member States).

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EU approves Regulation 1219/2012 on existing BITs between EU Member States and Third Countries, by José Ángel Rueda

27 Thursday Dec 2012

Posted by in Africa, Asia, Caribbean, Europe, International Arbitration, Investment, Latin America, Middle East

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On 20 December 2012 the Official Journal of the EU published Regulation No. 1219/2012 of the European Parliament and of the Council of 12 December 2012 establishing transitional arrangements for bilateral investment agreements between Member States and third countries: 

http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2012:351:0040:0046:EN:PDF    

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Sao Tome and Principe accedes to the New York Convention, by José Ángel Rueda*

03 Monday Dec 2012

Posted by in Africa, International Arbitration

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According to UNCITRAL’s website, São Tomé and Príncipe has deposited its instrument of accession to the New York Convention. It will enter into force for this country on 18 February 2013 (see http://www.unis.unvienna.org/unis/pressrels/2012/unisl178.html).

We would be pleased to receive more information about the procedure that led the Government to take this decision. In addition, we would welcome general comments about the impact of this accession on commercial transactions involving São Tomean parties.

*José Angel Rueda, Ph.D; associate, Uría Menéndez, Madrid; Managing Editor, Blogaila

The impact of Nigerian international petroleum contracts on Environmental and Human Rights of indigenous communities By Okechukwu Ejims*

21 Tuesday Aug 2012

Posted by in Africa, Investment

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I. Introduction

The use of international petroleum contracts in petroleum development has now become a contemporary trend throughout the world.[1]  In practice, petroleum development has been determined by these contracts,[2] and multinational companies involved in petroleum development have entered into a lot of these contracts, which have caused them to carry out petroleum development in regions inhabited by indigenous communities.[3] These indigenous communities include the communities in Niger Delta of Nigeria.[4] Having said that, the communities in the Niger Delta see such development as a threat leading to the infringement of their traditional rights related to the use and management of lands and natural resources which they perceive as theirs by way of tradition and usage.[5] Accordingly, this projected development of traditional lands has generated traditional rights concerns that have caused conflicts in the Niger Delta region of Nigeria inhabited by indigenous communities.[6] Continue reading »

The Enforcement Procedure Of Arbitral Awards in Cameroon By Ndeugwe Bernard Taylor Tumnde*

08 Wednesday Aug 2012

Posted by in Africa, International Arbitration, Investment

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Introduction

Arbitral awards cover a range of remedies such as monetary compensation, punitive damages, specific performance and restitution, injunctions, declaratory reliefs, rectification, adaptation of contracts, interest and costs. The successful party in an arbitration proceeding expects the award to be performed without delay. However, it may happen that the beneficiary of an award has to forcefully execute it for him to enjoy the fruit of the award. Continue reading »

Grounds For The Refusal of Arbitral Awards Under The OHADA Uniform Act On Arbitration 1999 By Ndeugwe Bernard Taylor Tumnde

06 Monday Aug 2012

Posted by in Africa, International Arbitration

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Introduction

The Organisation for the Harmonisation of Business Law in Africa (Organisation pour l’Harmonisation en Afrique du Droit des Affaires) Treaty commonly known by its French acronym as OHADA was born out of a meeting of Ministers of Finance of the CFA[1] Franc Zone in Ouagadougou, Burkina Faso in 1991.[2] This treaty was signed at Port Louis, Mauritius on the 17th day of October 1993. Fourteen States were the initial signatories.[3] Two years later (1995) it came into force. Subsequently, Guinea Bissau, Guinea Conakry, and the Democratic Republic of Congo joined, bringing the total membership to seventeen (17). Continue reading »

Is Africa Finally Confronting Its Challenges On Investment Treaty Arbitration? By Rukia Baruti

01 Wednesday Aug 2012

Posted by in Africa, International Arbitration, Investment

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Challenges are opportunities in disguise. Despite the global economic slowdown which has significantly affected developed economies, Africa, particularly Sub-Saharan Africa, has apparently shown good signs of economic expansion.  According to the International Monetary Fund World Economic Outlook of September 2011, the region’s economy is expected to expand by up to 5¾ per cent in 2012 owing to its use of macroeconomic policies.  This has in turn increased the volume of foreign direct investment (FDI) inflows.  With the increase of FDI, it is inevitable that disputes will arise.  It is therefore an opportune time for the region to return to its long-standing responsibilities for developing expertise and building capacity in investment treaty law and arbitration.  Continue reading »