China and the EU are preparing to launch negotiations for a bilateral investment agreement at the next EU-China Summit this November. The proposed agreement would replace existing bilateral investment treaties between EU member states and China. This is the moment to develop a more balanced international investment framework that would protect the sovereign power of both parties.
In the 2012 report Profiting from Injustice, jointly published by Corporate Europe Observatory and the Transnational Institute, we boldly asserted that law firms, arbitrators and third-party funders have, over the past two decades, helped maintain an investor-biased arbitration system and have fuelled the rise in investor-state disputes.
By ratifying the Free Trade Agreement with Colombia, the European Parliament committed itself to give a special follow-up to the “respect of human rights and the environment” by implementing the “road map” agreed upon for these issues.