International trade: UN expert calls for abolition of Investor-State dispute settlement arbitrations
NEW YORK (26 October 2015) – “Trade must be made to work for human rights and development and not against them,” the United Nations Independent Expert on the promotion of a democratic and equitable international order, Alfred de Zayas, has said today.
In his fourth report* to the UN General Assembly, Mr. de Zayas focuses on the adverse human rights impacts of free trade and investment agreements and calls for the abolition of Investor-State dispute settlement mechanism (ISDS) that accompanies most of these agreements.
“Over the past twenty-five years bilateral international treaties and free trade agreements with Investor-State-dispute-settlement have adversely impacted the international order and undermined fundamental principles of the UN, State sovereignty, democracy and the rule of law. It prompts moral vertigo in the unbiased observer,” he noted.
“Far from contributing to human rights and development, ISDS…
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