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ISDS/ICS Clauses in Foreign Trade Agreements: facilitating commerce or undermining Democracy ?

Abstract : This article focuses mainly on the use of the ISDS (Investor-to-State Dispute Settlement) clause also called ICS (Investor Court System) in the new generation of Foreign Trade Agreements. Many Latin American countries are signatories to these trade agreements and are already been affected by its nefarious consequences. Argentina is a case in point. This paper delves into the role of transnational corporations during FTA negotiation processes and on their role and influence afterwards. The secrecy surrounding the negotiations, the active participation of non-state actors (mainly corporations) in the drafting of the agreement, and the provisions of Chapters 9 and 28 of the TPP agreement which concern investment and the ISDS/ICS clause, are areas of interest that this article covers and uses in trying to understand the quandary the ISDS/ICS clause in the new generation of FTAs has created. Materials from scholars, the draft copy of the Trans Pacific Partnership agreement, as well as reports from the media and NGOs are used to analyze the power play between state officials and corporate stakeholders and to show that the latter seem to be the main actors of these agreements while state officials appear to play the role of facilitators. This article raises questions, on the ramifications of the nascent but increasing use of the ISDS/ICS clause in these new FTAs, on the future of international trade relations, and what they may portend for the democratic process and institutions in member/signatory countries.
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https://hal.univ-lorraine.fr/hal-02816416
Contributor : Peterson Nnajiofor <>
Submitted on : Tuesday, September 15, 2020 - 9:25:33 PM
Last modification on : Thursday, April 22, 2021 - 9:11:22 PM

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  • HAL Id : hal-02816416, version 1

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Peterson Nnajiofor. ISDS/ICS Clauses in Foreign Trade Agreements: facilitating commerce or undermining Democracy ?. Russia and Iberoamerica in the globalizing world: history and perspectives, Skifia-print, 2017, Memories of the third international forum, 978-5-98620-296-9. ⟨hal-02816416⟩

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