On 10 July, Benin signed the United Nations Convention in Transparency in Treaty-based Investor-State Arbitration (The Mauritius Convention on Transparency).
The Convention has been ratified by Canada, Mauritius and Switzerland. It will enter into force on 18 October 2017.
The Convention has further been signed by Belgium, Cameroon, Congo, Finland, France, Gabon, Germany, Iraq, Italy, Luxembourg, Madagascar, Netherlands, Sweden, Syria, United Kingdom and the United States.
The Convention is open for signature, ratification, and accession by States and regional economic integration organizations. For up-to-date information about the parties to the Convention as well as its signatories, see the UNCITRAL website.
The Mauritius Convention on Transparency aims to provide States and regional economic integration organizations with an efficient mechanism that extends the scope of the UNCITRAL Rules on Transparency in Treaty-based Investor-State Arbitration (Rules on Transparency) to investment treaties concluded before the Rules entered into force on 1 April 2014. The Rules on Transparency provide procedural rules that ensure transparency and public accessibility to treaty-based investor-State arbitration, the proceedings of which have traditionally been conducted behind closed doors. Together with the Rules on Transparency, the Mauritius Convention on Transparency takes into account both the public interest in such arbitrations and the interest of the parties to resolve disputes in a fair and efficient manner. It is expected that the Convention will significantly contribute to enhancing transparency in investor-State dispute resolutions.
Source:United Nations Information Service Vienna (UNIS).