Investor-State Arbitration: Mauritius sign UN Convention on transparency
The signing ceremony for the United Nations Convention on Transparency in Treaty-based Investor-State Arbitration (Mauritius Convention on Transparency) was held on 17 March 2015 in Mauritius.
The Mauritian Minister of Foreign Affairs, Regional Integration and International Trade signed the Convention for Mauritius together with the other signatory parties: Canada, Finland, France, Germany, Sweden, United Kingdom, and United States.
The Convention was adopted by the UN General Assembly in December 2014. It is essentially an instrument by which Parties to investment treaties express their consent to apply the Rules on Transparency in Treaty-based Investor-State Arbitration of the United Nations Commission on International Trade Law (UNCITRAL) to their existing investment promotion and protection agreements concluded before 1st April 2014.
The Mauritius Convention on Transparency is now open for signature at the United Nations Headquarters in New York. It will enter into force six months after the deposit of the third instrument of ratification, acceptance, approval or accession.
Mauritius has been a prime figure of international arbitration and is affirming its position as an important location for dispute settlements in the African region or in the context of business relations between Africa and Asia.
The Convention can be consulted below: