The Luxembourg Ministry of Foreign Affairs said that it "will not be able to give its support" to the signing of the EU-Mercosur agreement, asking for "additional commitments in the fight against climate change and deforestation.
The impending vote has sparked anger from environmental organisations. Stop TTIP/CETA and Votum Klima for instance called the vote a political scandal.
Critics say the Energy Charter provides excessive legal protection for oil and gas companies, which can claim uncapped reparations from governments who frustrate investments in fossil fuel projects.
Luxembourg has joined a small number of countries to oppose signing of the Mercosur agreement in a bid to curb massive burning of the Amazon rainforest.
In a second international ruling against retroactive cuts in renewables support introduced by the Spanish government in 2013, a Swedish arbitration panel has awarded a Luxembourg-based investment firm €53 million compensation.
A World Bank tribunal ordered Venezuela to pay steelmaker Tenaris SA $162 million for expropriating two investments in the country
More than 4,000 people gathered in Luxembourg City to protest against controversial free trade agreements CETA and TTIP.
Over half of Luxembourg residents believe free-trade partnerships bring more disadvantages to Europe, and 40 percent think the current TTIP negotiations should be suspended.
For those uninitiated in the world of international arbitration, below is the primer of the issues at play in the South Korea-Lone Star Funds arbitration.
The chances for a conclusion to negotiations on the Transatlantic Trade and Investment Partnership (TTIP) this year are poor, Luxembourg‘s foreign minister said in an interview with a German newspaper published Monday.
A Luxembourg platform calling for plans for a US-EU trade partnership to be abandoned has urged the Grand Duchy’s MEPs to vote against the proposals put forward by the European Commission.
Luxembourg’s Foreign Minister says that the Transatlantic Trade and Investment Partnership presents an opportunity but EU should not enter the agreement “at all cost.”
South Africa has terminated a bilateral investment treaty with Belgium and Luxembourg in the first of a series of planned shreddings of post apartheid-era agreements which are coming up for renewal.
In a May 31 press release, the US private equity fund Lone Star said it was planning to request investor state dispute (ISD) arbitration for losses suffered due to "unlawful" interference by the South Korean government.
Japan and Luxembourg agreed Tuesday to push forward the launch of negotiations on sealing a free-trade agreement between Tokyo and the 27-nation European Union, with an eye on reaching an accord during the next Japan-EU summit talks slated for late May in Brussels, officials said.
Barbados and the Belgium-Luxembourg Economic Union (BLEU) now have a Bilateral Investment Treaty (BIT).
Finstone Ltd SA, a foreign mining company based in Luxembourg, is suing the South African government for an alleged expropriation of its mineral rights. Finstone is a holding company in control of three South African granite producing operations i.e. Marlin, Red Graniti and Kelgran. The real challenge posed by this legal action is that the abovementioned investors find the black economic empowerment programme is in violation of the bilateral treaties signed with South Africa by both Luxembourg and Italy.
A foreign mining company is suing the South African government over alleged expropriation of its mineral rights in a move that has huge implications for the country’s new mining dispensation.
Nicaragua has recently signed Agreements on Reciprocal Promotion and Protection of Investments (ARPPI) with Luxembourg and Belgium.