Edited By Elżbieta Czarny, Andżelika Kuźnar and Jerzy Menkes
This book gathers Polish and foreign scholars to consider diverse aspects of Transatlantic Trade and Investment Partnership (TTIP). It examines key general areas such as the improvement of the position of the negotiating parties in the world economy, in politics and in international organisations. The contributors analyze possible acceleration of non-discriminatory liberalisation negotiations, creation of new international standards or reducing regulatory differences, such as «Investor-state dispute settlement» (ISDS), public health, geographical indications. The contributions focus also on specific issues, such as the impact of TTIP on Polish and EU economy, on merchandise and services trade, energy supply, research and development, Information and Communication Technologies (ICT), or on the third parties.
Chapter 5. ISDS and the TTIP—A Polish Perspective
The mechanism of investor-state dispute settlement (ISDS) lately has become one of the most controversial elements of trade and investment agreements. The negotiations of the Transatlantic Trade and Investment Partnership (TTIP) as well as the Transpacific Partnership (TPP)—two of the most important regional trade agreements (RTA) in recent years—have made the discussion even more heated. Many doubts have been raised, mainly in civil society in developed states, which mostly underline that there is no need for additional protection for foreign investors in states with established standards of democracy and rule of law.
This chapter’s aim is to present the Polish point of view and that of other Eastern and Central European states’ on the issue1. To be able to fully describe the differences in perspective, we need to describe the problem. Therefore, we start by presenting problems that seem to be caused by ISDS and then we describe the new EU perspective and ways of solving these problems. The last part concerns the Polish perspective on the issue of ISDS, especially in the TTIP.
1. Critics of ISDS
Bilateral Investment Agreements (BITs) have been signed by various states since 1959. They are perceived as the best way to guarantee a sufficient level of protection for foreign investors. The main goal of a BIT is to prevent host states from discrimination, denial of justice or any other form of unfair treatment.
The concerns indicated by investors are real, despite...
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