A portrait of transnational power in Mexico : the investment protection system and its consequences
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TNI | September 2024
A portrait of transnational power in Mexico : the investment protection system and its consequences
In 2023, Mexico had received the most investment arbitration claims under investment protection treaties worldwide. With 55 cases in total, Mexico is now among the most sued countries by foreign investors before international arbitration tribunals and the third highest in Latin America and the Caribbean. An increasing volume of public money may end up being paid to foreign investors’ multi-million-dollar claims resulting from arbitrations. Despite this, Mexico continues to sign new investment protection treaties that include recourse to international arbitration tribunals as the main mechanism for Investor-State Dispute Settlement (ISDS).
In recent years, Mexico ratified the CPTPP ; renegotiated the Treaty between Mexico, the United States and Canada (NAFTA 2.0/USMCA), maintaining the ISDS system between Mexico and the US ; and concluded the renegotiation ‘in principle’ of the Trade Agreement with the European Union (EU), which includes a new investment protection chapter. In 2018 it also became a full member of the World Bank’s International Centre for Settlement of Investment Disputes (ICSID) Convention.
In this report we look at Mexico’s investment protection regime and outline its main consequences for the country.
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