Investor-state Dispute Settlement in the cptpp : Perspectives from Australia, Japan and New Zealand
In: New Zealand Yearbook of International LawSearch for other papers by Ashley Chandler in
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Abstract
The Comprehensive and Progressive Agreement for Transpacific Partnership (“ cptpp ”) has come into force during a time of continued debate over the future of investor-state dispute settlement (“isds”). This paper seeks to examine the incremental approach to reform taken in its investment chapter in reference to the treaty practice and policy of three cptpp countries: Australia, New Zealand and Japan. The analysis of these countries, selected for their potential to play a greater role in shaping international investment law, supports the conclusion that the cptpp ’s approach is a balanced one, appropriately addressing common criticisms of isds while maintaining the merits of the mechanism. This approach may hold greater significance to the extent that it influences future large-scale regional initiatives. Importantly, however, this paper also argues that regardless of stated positions on isds, it remains simply one of many tools in the trade negotiator’s toolbox, subject to compromise and concession when convenient.