The signatories of this letter wish to express their rejection of this decision and their support for the people of Ecuador and the organizations that have defended the communities affected by Chevron Texaco.
Ecuador found liable for violating international law, supporting fraud and corruption.
Ecuador’s President Lenin Moreno has indicated that the country will consider joining the Trans-Pacific Partnership free trade agreement while seeking diversification of its trade and industry.
The EFTA states would like to abolish all industrial tariffs in trade with Ecuador, facilitate trade in services, and secure investments. These are all provided for in the free trade agreement, which has now been signed in Iceland.
The agreement will allow export of shrimp and tuna products to EFTA countries with a zero export tariff.
Recent declarations made by members of the newly elected government of Ecuador reveal a reversal of its predecessor’s decision to denounce and withdrawal from the ICSID Convention, as well as all of Ecuador’s bilateral investment treaties
The European Free Trade Association (EFTA) states – Iceland, Liechtenstein, Norway, and Switzerland – and Ecuador have concluded the fifth round of talks towards an agreement that will reduce tariff and non-tariff barriers to bilateral trade.
Under the terms of the agreement, ConocoPhillips will recover a total of $337 million from Ecuador.
The European Free Trade Association (EFTA) states and Ecuador held their fourth round of negotiations on a Comprehensive Economic Partnership Agreement on October 9-13 in Geneva, Switzerland.
This first part begins with a review of the law governing entering and denouncing the ICSID Convention, as well as of an important debate on the effects of withdrawing from it.
The tribunal ordered Burlington to pay USD41 million in compensation to Ecuador for environmental and infrastructure damage.
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.
Chevron is victorious after the Supreme Court declined to hear a case made against the company by a NY lawyer representing Ecuadorian villagers.
The withdrawal of Ecuador from these BITs responds to the final stage of a review process that started in 2008, and which had led to the establishment of a joint government-civil society audit commission.
Just days before his term ends, Rafael Correa said he will take a stand against agreements signed before the country’s Citizens Revolution.
Ecuador’s review of its investment agreements may be unique in terms of scope, depth and citizen participation, however it is a part of an international trend towards increased scepticism towards the international arbitration system.
The European Free Trade Association states – Iceland, Switzerland, Liechtenstein, and Norway – and Ecuador have continued discussions towards a free trade agreement.
Two recently finalized cases against Latin America states provide several noteworthy points for further debates on the host states’ counterclaims towards investors.
An arbitration tribunal has ordered Ecuador to pay a ConocoPhillips’ wholly-owned subsidiary nearly $380 million and ordered the company to pay Ecuador $42 million in response to the Republic’s counterclaim
The Tribunal’s decision on damages sends a clear message that governments cannot expropriate investments without compensation