Youtor
TRADE ERR
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Adjourned • CC • English Video1010 • 15:41:14 • Info • Description Meeting No. 112 CIIT - Standing Committee on International Trade • Location West Block - 025-B • Scheduled • Thursday, Jun 13, 2024 • 15:41 - 17:25 • 1 Hour 43 Minutes • Actual https://parlvu.parl.gc.ca/Harmony/en/... • Thursday, Jun 13, 2024 • 15:41 - 17:25 • 1 Hour 43 Minutes • Contact • Information • [email protected] • Information website • Understanding ISDS Section 13 of CUSMA: Ensuring Investor Protection • The new North American trade deal, known as the Canada-United States-Mexico Agreement (CUSMA), came into force on July 1, 2020, replacing the previous North American Free Trade Agreement (NAFTA). One of the key provisions of CUSMA is the Investor-State Dispute Settlement (ISDS) mechanism, specifically Section 13, which aims to safeguard the rights of investors by providing them with an avenue for resolving disputes with host governments. • ISDS allows foreign investors to bring claims against host governments before an international arbitration tribunal. This mechanism is intended to protect investors from unfair treatment, discrimination, or expropriation without proper compensation. It also promotes certainty and stability while encouraging foreign investment by minimizing the risks associated with political and legal changes in host countries. • Section 13 of CUSMA expands upon the ISDS mechanism compared to its predecessor, NAFTA. Notably, it introduces important reforms that address key concerns raised by critics of ISDS. These reforms include greater transparency, stricter ethical rules for arbitrators, and a more robust review of arbitral awards. • Transparency is enhanced through the requirement for public hearings and the publication of arbitral decisions. This allows for increased accountability and ensures that the decisions are subject to scrutiny, reducing the potential for misuse of the ISDS mechanism. • CUSMA also establishes an independent appellate mechanism, the Investment Court System (ICS), for reviewing ISDS decisions. This appellate body promotes consistency in interpreting the agreement and provides an avenue for correcting errors or addressing potential biases in the arbitral tribunals. The ICS will consist of 15 members appointed by the CUSMA parties, ensuring a diverse and impartial review process. • Another notable improvement in Section 13 is the establishment of a code of conduct for arbitrators. These ethical rules aim to prevent conflicts of interest and ensure the independence and impartiality of arbitrators, strengthening the credibility and integrity of the ISDS process. • Critics of ISDS have raised concerns about the potential for arbitral awards to override domestic regulations protecting public welfare, health, and the environment. Section 13 of CUSMA explicitly recognizes the right of governments to regulate in the public interest. This provision strikes a balance between investor protection and the right of host governments to enact legitimate regulations for the public good. • ISDS Section 13 of CUSMA underscores the importance of investor protection in promoting cross-border investment and economic growth. By addressing the flaws of the previous NAFTA agreement, CUSMA seeks to strike a better balance between investor rights and regulatory sovereignty. The safeguards introduced in Section 13 increase transparency, enhance ethical standards, and provide a robust review mechanism, resulting in a more effective and fair ISDS process. • As countries continue to leverage the benefits of international trade and investment, ISDS Section 13 of CUSMA serves as a vital tool for safeguarding investor interests and ensuring a stable and predictable investment climate across North America. • Fair use is a legal doctrine that says use of copyright-protected material under certain circumstances is allowed without permission from the copyright holder. • YouTube gets many requests to remove videos that copyright holders claim are infringing under copyright law. Sometimes these requests apply to videos that qualify for copyright exceptions or seem like clear examples of fair use.
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