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سامانه تجدیدنظر
ICSID Annulment Procedure and the WTO Appellate System: The Case for an Appellate System for Investment Arbitration
In comparison to the WTO appellate system, an investment dispute settlement annulment committee has a very limited mandate.
In spite of the debate over the nature of the two systems, there is a need to acknowledge that an appellate system would at least help to improve both the awards and the ICSID's legitimacy.
While recognising the successes as well as the challenges so far faced by the WTO Appellate Body, we argue in this paper that an ICSID appellate system would enhance the legitimacy of investment arbitration, and institute fairness and balance among the various players in investment disputes.
The dispute settlement system (DSS) established by the World Trade Organization (WTO) has been lauded for preserving the security and predictability of the world trading system and for the contributions its jurisprudence has made to the development of international law.2 Its two-tier panel and appellate systems are regarded as instrumental in the enforcement of the WTO's overarching obligations.
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