The ride-hailing firm said its initial calculations suggest damages from suspending its service in Colombia will exceed $250 million.
The US-based ridesharing services platform Uber Technologies and its Colombian subsidiary, Uber Colombia, have threatened to initiate arbitration proceedings against Colombia under the Colombia-US Trade Promotion Agreement.
Indonesia and Colombia have agreed to shortly initiate a Joint Feasibility Study (JFS) under its efforts to tap avenues for increasing access of several Indonesian export goods to the Colombian market.
A World Bank tribunal has ordered Colombia to repay a $19 million fine it levied on Glencore’s coal mining subsidiary Prodeco.
A large portion of the content of preferential trade agreements is copied word for word from earlier agreements, finds a study
The United Kingdom has signed the UK-Andean countries trade agreement.
While Eco Oro claims to have invested US$250 million in the project, it is seeking US$764 million as compensation for the cancellation of the project.
National and international civil society organizations rebuffed the ICSID’s refusal to accept an Amicus Curiae within the process of the ongoing international arbitration brought forth by Canadian mining company Eco Oro Minerals Corp. against Colombia.
Mexico has implemented a temporary exception to the rules of origin for textiles and apparel in its free trade agreement with Colombia.
Japan’s foreign minister has met his new Colombian counterpart and asked the South American country to join the Trans-Pacific Partnership free trade agreement.
Thailand, Indonesia, Columbia, South Korea and Taiwan are seen as willing to join the revised TPP. Britain has also shown interest.
Colombia has formally requested permission to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Mexico’s Economy Minister Ildefonso Guajardo said.
TPP may get back to a dozen signatories, with Colombia declaring its interest in the agreement.
Colombia’s decision to ban mining activities in the Páramos, a range of environmentally sensitive wetlands that provide approximately 70% of the country’s water supply, has so far led to three treaty-based arbitration cases.
Junior project developer Eco Oro Minerals has filed a memorial on the merits with the World Bank’s ICSID in its arbitration case against Colombia.
Telefonica has filed an arbitration complaint with the World Bank’s ICSID against the Colombian arbitration fine for breaching a government contract for mobile services.
The Union Cabinet has given its approval for signing the Joint Interpretative Declaration between India and Colombia regarding the existing Agreement for the Promotion and Protection of Investments.
Trade Representative Robert Lighthizer pointed to the need to modernise agreements with Peru, Colombia, Panama and Chile, as well as the Central America Free Trade Agreement (CAFTA).
The UK´s trade dialogue with the Andean countries will aim to strengthen bilateral trade and prepare the ground for potential future FTAs post Brexit.
Canadian miner Gran Colombia Gold has filed a US$700 million lawsuit against Colombia under the Colombian-Canadian free trade agreement after the government ordered the company to cease operations at the El Burro site in Marmato.