The Republic of Congo, Gabon and Madagascar sign the United Nations Convention on Transparency in Treaty-based Investor-State Arbitration

During the 2015 Treaty Event, “Seventy Years of Multilateral Treaty Making at the United Nations,” held at United Nations Headquarters in New York (28 September – 1 October 2015), Gabon, the Republic of Congo and Madagascar signed the United Nations Convention on Transparency in Treaty-based Investor-State Arbitration (the “Mauritius Convention on Transparency”), respectively on 29, 30 September and 1 October.

To date, thirteen other States (Belgium, Canada, Finland, France, Germany, Italy, Luxembourg, Mauritius, Sweden, Switzerland, Syria, the United Kingdom, and the United States) have signed the Convention, with Mauritius ratifying the Convention on 5 June 2015. The Convention is open for signature, ratification, and accession by States and regional economic integration organizations and will enter into force six months after the date of deposit of the third instrument of ratification or accession. For up-to-date information about the parties to the Convention as well as its signatories, see the UNCITRAL website.

The Mauritius Convention on Transparency aims at providing States and regional economic integration organizations that so wish an efficient mechanism for making the UNCITRAL Rules on Transparency in Treaty-based investor-State Arbitration (the “Rules on Transparency”) applicable to investment treaties concluded before the Rules entered into force on 1 April 2014.

The Rules on Transparency provide a set of procedural rules that ensure transparency and public accessibility to treaty-based investor-State arbitration, the proceedings of which have traditionally been conducted behind closed doors. Together with the Rules on Transparency, the Mauritius Convention on Transparency takes into account both the public interest in such arbitrations and the interest of the parties to resolve disputes in a fair and efficient manner. It is expected that the Convention will significantly contribute to enhancing transparency in investor-State dispute resolutions.

Source: United Nations (UN)

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