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

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


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

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

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

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

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*


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

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

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: 


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

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*


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