Co-organised by the Organisation for Economic Co-operation and Development (OECD) and the United Nations Conference on

Trade and Development (UNCTAD)

With the Participation of the International Centre for Settlement of Investment Disputes (ICSID)

SECOND SYMPOSIUM ON INTERNATIONAL INVESTMENT AGREEMENTS

International Investment Agreements and Investor-State Dispute Settlement at a Crossroads: Identifying Trends,

Differences and Common Approaches

PROGRAMME

14 December 2010 Paris, France

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Background

Bilateral, regional and sectoral investment agreements continue to grow among developed, emerging and developing countries. At the same time, investor-state disputes have been on the rise during the last decade. Developing and developed countries alike have been involved in investment disputes and arbitral tribunals have been called to interpret investment treaty provisions, sometimes giving rise to different and contradictory interpretations. These developments increased governments’ attention to the scope of their treaty obligations.

The investment agreement practice is developing at a rapid pace. Some countries have begun using more detailed and precise texts in light of experience with investor-state dispute settlement with the aim to provide greater clarity to arbitrators. A number of OECD and non-OECD countries are reviewing their approaches from a variety of perspectives, in particular a desire to strike an appropriate balance between the need to protect investors rights and preserving the necessary flexibility to regulate in the public interest, including development objectives. Some countries are moving further and questioning their commitments, terminating or renegotiating bilateral investment treaties and in Latin America, two have denounced the ICSID Convention. After the entry into force of the Lisbon Treaty, the European Union is reflecting on the European approach to investment agreements1. ASEAN’ Comprehensive Investment Agreement, signed in 2009, is a notable new development.

G8+G5 countries as well as OECD Council at Ministerial level have recognized the need for continued discussion of key principles to promote a shared understanding of issues of common interest in the sphere of international investment law that could serve as the basis for a coherent common framework2.

The 2010 Symposium will be a stocktaking exercise aiming at concrete results. It will provide an opportunity to further understand the dynamics of the relationships created by the complex network of international investment agreements and the drivers behind different approaches, attempting to find common ground and developing a framework for a joint programme of work among the OECD, UNCTAD and ICSID to address these issues. The Symposium will be structured as follows:

In the morning session, government representatives will take stock of how their different objectives and policy priorities as well as the interests of investors shape their approach to international investment agreements. This will include how substantive provisions have evolved to accommodate the diverse interests of home and host countries as well as foreign investors. In this context also regional approaches will be reviewed, including the new developments in the European Union, APEC and ASEAN.

The afternoon session will be devoted to investor-state dispute settlement including procedural innovations in treaty practice and recent developments in investment arbitration. Government representatives, academic and other experts will discuss the most salient features of the system and will make proposals for the way to go forward. In addition, experts will discuss the impact of the two core provisions of IIAs on the investor-State dispute settlement system.

1 See Communication from the European Commission: Towards a comprehensive European international

investment policy [COM(2010)343 final (7 July 2010)] and its transitional arrangements for bilateral investment agreements between Member States and third countries [COM(2010)344 final (7 July 2010).

2 See G8-G5 Joint Declaration: Promoting the Global Agenda (9 July 2009) paras. 8-9; G8 Leaders

Declaration: Responsible Leadership for a Sustainable Future, (8 July 2009) paras. 51-52; 2009 OECD Ministerial Council Declaration, C/MIN(2009)5/FINAL (25 June 2009), para. 14.

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Expected results: The Symposium is expected to contribute to an improved understanding of different approaches to investment treaty making and, where possible, the identification of common ground, with a view to enhancing coherence and improving predictability of outcomes of international investment agreements. It will take stock of recent developments in investor-state dispute settlement with a view to proposing ways to improve the system and to establishing a forum for dialogue on these issues between OECD, UNCTAD and ICSID.

Recent publications by the organizers and advanced drafts will be provided as background documentation for the discussions.

Contacts

OECD Katia Yannaca-Small Legal Advisor on International Investment Law Investment Division Tel: +33 1 45 24 93 32 Email: catherine.yannaca-small@oecd.org

Belinda Sutton Assistant Investment Division Tel: +33 1 45 24 96 15 Email: belinda.sutton@oecd.org

UNCTAD

Anna Joubin-Bret Senior Legal Advisor-Division of Investment and Enterprise Tel: +41 22 917 58 97 Email: anna.joubin-bret@unctad.org Ileana Tejada Legal Expert, Work Programme on International Investment Agreements Tel: +41 22 917 15 65 Email: ileana.tejada@unctad.org

Diana Ruiz Truque Legal Expert, Work Programme on International Investment Agreements Tel: +41 22 917 15 65 Email: diana.ruiz.truque@unctad.org

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OECD-UNCTAD

Second Symposium on International Investment Agreements

Draft Programme

Tuesday 14 December 2010

8.00-9:00 Registration

9:00-9:15 Welcome addresses by the co-hosts:

Mr. Angel Gurría, Secretary-General, OECD

Ms. Anna Joubin-Bret, Senior Legal Advisor, Division on Investment and Enterprise, UNCTAD

Conference co-chairs:

Ms. Li Ling, Former Director General, Director of Treaty and Law, MOFCOM, China

Mr. Raúl Sáez, Former Head of Financial services negotiations, Chile

9:15-12:15 Session I: Evolving investment treaty practice and regional perspectives

Moderator: Mr. Wesley Scholz, Vice-Chair of the OECD Investment Committee The current international investment legal regime with its variety of sources, including the incorporation of investment treaty provisions into free-trade agreements, faces new challenges. Panellists will reflect on new trends and developments in treaty making as well as related costs and benefits from the multiplication of diverse agreements and will address the quest for consistency, particularly in light of the evolution of investor-state dispute settlement cases. Representatives from regional institutions will also present regional initiatives.

9:15-10:30 Session I-A. Evolving investment treaty practice

Questions:

What is the experience of emerging economies as both capital importing and capital exporting countries in tailoring their approaches to accommodate their specific needs according to their different stages of development?

How have home and host countries’ different priorities and objectives (e.g. market access and liberalisation, investment protection, economic and social development; transparent, stable and predictable environment for cross-border investment) shaped international investment agreements?

What are the salient features of the recently negotiated investment agreements? How have their substantive provisions evolved to accommodate the diverse interests of home and host countries as well as foreign investors?

What is the expected impact of these features in the global trend towards predictability and consistency in the field of investment protection? Is there room for common ground?

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Perspective of government panellists:

Mr. Prabodh Saxena, Joint Secretary (Bilateral Cooperation), DEA, Ministry of Finance, India

Mr. Julien Cléach, Ministry of Economy, Finance and Employment, France

Mr. Camilo Fernández de Soto, Adviser to the Directorate of Foreign Investment and Service, Ministry of Trade, Industry and Tourism, Colombia

10:30-10:45 Coffee break

10:45-12:15 Session 1-B. Regional developments and perspectives

Questions:

What are the trends and approaches at the regional level?

How and to what extent trends in treaty negotiation discussed above have an impact on regional approaches?

Presentations by institution and government representatives:

European Commission: Mr. Ignacio Iruarrizaga, Acting Head of Services and Investment Unit, DG Trade

APEC: Mr. Toru Shimizu, Vice-chair of the OECD Investment Committee, Director, Ministry of Foreign Affairs, Japan

ASEAN: Mr. Rizar Indomo, Director for Regional Cooperation, Investment Coordinating Board, Indonesia

Perspective of academia and practitioners (for the entire session):

Mr. Roberto Echandi, Former Ambassador of Costa Rica to the EU and Senior Advisor, World Trade Institute

Mr. Rudolf Dolzer, Professor, Institute of International Law, University of Bonn, Germany

Mr. Huagun Zeng, Professor, Xiamen University Law School, China

Mr. Barton Legum, Partner, Head - Investment Treaty Arbitration, Salans LLP, Paris, France

12:15-13:15 Lunch break

13:15-15:45 Session II: Investor-State Dispute Settlement: Is the system at a crossroads?

In this session, panellists will explore recent procedural innovations in investment treaty practice to improve the legitimacy and efficiency of investment dispute settlement mechanisms, as well as recent developments in the system of investor-state dispute settlement.

UNCTAD and the OECD will make brief presentations of their work in this area. Moderator: Ms. Lucy Reed, Partner, Freshfields Bruckhaus Derringer LLP, New York, United

States Questions:

What are the recent procedural innovations on investor-state dispute settlement in investment treaty practice?

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What are the salient current issues in investment arbitration? Is there room for improvement? o Increasing request for provisional measures; o Appointment of arbitrators; o Conflicts of interest of arbitrators; o Costs and length of arbitration; o Review of awards (under the ICSID and New York Conventions); o Enforcement of awards; o Transparency in arbitration rules: the current state of play

Perspective of government panellists:

Mr. Vernon MacKay, Deputy Director, Investment Trade Policy Division, Department of Foreign Affairs and International Trade, Canada

Mr. Gabriel Bottini, Coordinator, Department of International Affairs, Procuración del Tesoro de la Nación, Argentina

Perspective of arbitration institutions:

Ms. Eloise Obadia, Senior Counsel, ICSID

Mr. Jason Fry, Secretary General of the ICC Court of Arbitration

Ms. Claudia Gross, Legal Officer, UNCITRAL Working Group on Arbitration

Perspective of academia, practitioners and investors:

Prof. Kate Miles, Lecturer, Faculty of Law, University of Sydney, Australia

Ms. Loretta Malintoppi, Of Counsel, Eversheds International, Paris, France

Prof. Shotaro Hamamoto, Univeristy of Kyoto, Japan

Ms. Yas Banifatemi, Partner, Shearman & Sterling LLP, Paris, France

Mr. Jean-Claude Najar, GE, General Counsel, France and Senior Counsel EMEA; Honorary Founder & Member of the Steering Committee, Corporate Counsel International Arbitration Group (CCIAG)

Questions from the floor and general discussion

15:45-16:00 Coffee break

16:00-17:00

Session III: Two core provisions of IIAs and their impact on the

investor-state dispute settlement system: Definition of Investment

and Most Favoured Nation treatment

The definition on investment and the most favoured nation treatment remain two of the most controversial topics in treaty interpretation. Panellists will address different options and related implications regarding these two issues and their impact on the investor-state dispute settlement system.

UNCTAD and the OECD will make brief presentations of their work in this area. Moderator: Professor August Reinisch, University of Vienna, Austria A. Definition of Investment

There is no single definition of what constitutes foreign investment. International investment agreements usually define investment in very broad terms. The ICSID Convention does not define the term investment, which has led to different interpretations by ICSID tribunals. During this session, panellists will offer an insight in the current debate on this issue.

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Questions:

What is the relevance of the identified “typical characteristics” of an investment (duration, regularity of profit and return, risk, substantial commitment and significance for the host state development), as reflected in the interpretation of the term “investment” by arbitral tribunals?

Should the contribution to the economic development of the host state be a requirement to characterise an investment?

Should the legality of investments according to the laws of the host state be also a requirement?

Is the scope of investment under the ICSID Convention creating an impasse given the different interpretations by arbitral tribunals?

Perspective of government panellists:

Mr. Nikos Lavranos, Senior Policy Advisor, General Directorate for Foreign Economic Relations, Ministry of Economic Affairs, Netherlands

Mr. Hasan Aslan Akpinar, Treasury Expert, General Directorate of Foreign Investment, Undersecretariat of Treasury, Turkey

Discussant:

Mr. Arif Ali, Partner, Crowell & Moring, Washington, D.C., United States Questions and general discussion B. Most Favoured Nation Treatment in investment agreements The most-favoured-nation treatment is an essential feature of international investment agreements. During this session, panellists will discuss the scope and implications of the most-favoured-nation treatment as interpreted by arbitral tribunals and the limits related to its operation.

Questions:

What are the implications of the most-favoured-nation treatment? Does it imply the States’ actual interest in having uniform rules on the protection of foreign investment?

What is the breadth and the potential associated with this provision in investment treaties in view of the different interpretations adopted by arbitral tribunals?

Perspective of a government panellist:

Mr. Raimundo Gonzalez, Head of Service and Investment and Air Transport Department, Ministry of Foreign Affairs, Chile

Discussant:

Mr. David Pawlak, Partner, David A Pawlak LLC Questions and general discussion

17:00-17:30 Conclusions by the co-chairs

17:30-19:30 Cocktail

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SPEAKER’S BIOGRAPHIES

Co-Chairs

Ms. Li Ling Former Director General, Director of Treaty and Law, MOFCOM, China

Ms. Ling worked for the Chinese Ministry of Commerce for 29 years. She has served as the Director General of the Department of Treaties and Law (2008-2010), the Director General of the Bureau of Fair Trade for Imports & Exports (2006-2008) and Director/Deputy Director General in the Department of Treaties & Law, Ministry of Commerce (1981-2006). Prior to that, Ms. Ling was with the Institute of International Affairs in Beijing. Ms. Ling is currently involved in a number of projects including negotiations and conclusions of over 60 Bilateral Investment Protection Agreements between China and other countries and bilateral and multilateral negotiations and discussions concerning Intellectual Property Rights issues. She also drafts laws and regulations on foreign investment and trade. In addition Ms Ling is also involved in the work of studying, signing and approving China’s participation in the Convention on Settlement of Disputes Between States and Nationals of Other States (the Washington Convention) and the Convention on Multilateral Insurance Guaranty Agency (MIGA). She has participated in conferences or seminars of international organisations or forum relating to investment or trade, e.g. UNCITRAL, UNTACD, UNIDROIT, APEC, the International Association of Insolvency Regulators (IAIR), International Development Law Institute in Italy, etc.

H.E. Raúl Sáez Former Head of Financial Services Negotiations, Chile

Mr. Sáez held the position of International Affairs Coordinator at the Ministry of Finance of Chile from the year 2000 to 2010. In that position he headed the International Affairs Team of the Ministry of Finance and was the Senior Advisor to the Minister on Trade Policy and Trade Negotiations and the Minister’s representative in multilateral and regional economic organisations as well as in the International Financial Institutions. Mr. Sáez was the lead negotiator for financial services for Chile from 2000 to 2010, including the Free Trade Agreements with the European Union, the US, Japan and Australia. He was also a member of the executive committee that headed the Chile-US FTA negotiations. Mr. Sáez is also an active participant in negotiations on investment, services, balance of payments clauses, and other areas of priority for the Ministry of Finance. He presented the Minister of Finance in the general coordination of the free trade negotiations with the European Union, EFTA, China, New Zealand, Singapore and Australia. Finally he was one of the heads of the team that coordinated the accession process of Chile to the Organization for Economic Cooperation and Development (OECD). He has been designated as Permanent Representative to the OECD. Mr. Sáez holds a Master’s degree in Economics from the University of Chile and a Ph.D. in Economics from Boston University.

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Session I: Evolving investment treaty practice and regional perspectives

Mr. Wesley Scholz Vice-Chair of the OECD Investment Committee Director, Office of Investment Affairs, Bureau of Economic, Energy, and Business Affairs, U.S. Department of State

The Office of Investment Affairs is responsible for the development and administration of U.S. policy on international investment. Mr. Scholz oversees the U.S. bilateral investment treaty (BIT) program, represents the U.S. in OECD, UNCTAD and other international fora on international investment matters, and oversees Department participation in regional investment fora including APEC, NAFTA, and FTAA. He is the vice chair of the OECD Investment Committee and co-chaired the Investment Working Group of the Hieligendamm – L’Aquila Dialogue Process among members of the G-8 and major emerging economies. He also coordinates the Department of State participation on the Committee on Foreign Investment in the United States which addresses national security concerns related to mergers and acquisitions resulting in foreign control of U.S. companies. Prior to joining the Office of Investment Affairs, Mr. Scholz was Director of the Office of International Commodities at the Department of State from 1989 to 1995. During his tenure, he was the lead U.S. negotiator in the successful negotiation of an agreement amending the UN Convention on Law of the Sea to address U.S. and other countries objections to the deep seabed mining provisions clearing the way for entry into force of the Convention and U.S. consideration of accession. Mr. Scholz received a B.A. in philosophy from Marquette University in 1972, a J.D. cum laude from the University of Wisconsin School of Law in 1977, and a LL.M. in Law and Marine Affairs from the University of Washington School of Law in 1979.

Mr. Prabodh Saxena Joint Secretary (Bilateral Cooperation), DEA, Ministry of Finance, India

Mr. Saxena works as Joint Secretary in the Department of Economic Affairs of the Indian Ministry of Finance looking after the Divisions handling Bilateral Cooperation. In this role he works at all the levels of governance in India namely, district, province and union. Prior to that, Mr. Saxena was the lead negotiator of the country on Bilateral Investment Protection and Promotion Agreements. Mr. Saxena contributes regularly to internationally reputed journals and newspapers and has participated in various international conferences such as “Application of Community Development Techniques” at Kaulalampur, (2002), “Conflict in South Asia: What to do” at UK (2003), “Environment Impact ODA Projects” at Tokyo (2006), “Leading Change” at US (2007) and “Natural Catastrophe Risk Insurance Mechanisms for Asia and the Pacific” at Tokyo, (2008). Mr. Saxena graduated with a Bachelor’s degree of Law from Delhi University. He was also awarded a scholarship to complete an LL.M in International Human Rights at the London School of Economics.

Mr. Camilo Fernández de Soto Adviser to the Directorate of Foreign Investment and Service, Ministry of Trade, Industry and Tourism, Colombia

Mr. Fernández de Soto works as an adviser in the Directorate of Foreign Investment and Services at the Ministry of Trade, Industry and Tourism of Colombia. There, he is an International Investment Agreements negotiator and also responsible for working on the Colombian policy on investor-State

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disputes arising out of IIA, both in terms of developing capacity to handle such disputes and means to engage in dispute avoidance and dispute mediation. He undertook his J.D. degree and economics postgraduate at the Universidad de los Andes in Colombia, and specialized courses in International Law from the Inter-American Juridical Committee and the Department of International Law of the Secretariat for Legal Affairs of the OAS. Before joining the Ministry, Mr. Fernández de Soto was adviser to the Vice-Minister of Labour dealing with FTA negotiations and international relations with multilateral organisations and States. Previously, he served as liaison between the Ministry of Finance and Congress. Prior to that, he worked at the Colombian Trade Bureau in Washington DC in the Free Trade Agreement approval process with the United States Congress.

Mr. Ignacio Iruarrizaga Acting Head of Services and Investment, Unit, DG Trade

Mr. Díez is Deputy Head of Unit for Trade in Services and Investment at the European Commission's Directorate-General for Trade. This unit is responsible for the negotiation of trade agreements on services and investment and it handles multilateral and bilateral trade negotiations in these areas. Mr. Díez has worked for sixteen years at the European Commission dealing with the external relations of the Union. In the early nineties he worked on the management of the PHARE programme in support of Central and Eastern European countries. For the last thirteen years, Mr. Díez has been handling trade policy, notably trade defense instruments until he joined the unit dealing with trade in services and investment. Before joining the European Commission, Mr. Díez worked as a business strategy consultant at The Boston Consulting Group in Madrid and as an analyst at Banco Español de Crédito in London. He studied economics in Bilbao and Amsterdam.

Mr. Toru Shimizu Vice-chair of the OECD Investment Committee, Director, Ministry of Foreign Affairs, Japan

Mr. Shimizu is Director for the OECD Division at the Ministry of Foreign Affairs of Japan. After joining the Ministry in 1990, he has assumed a wide range of posts therein. Among other things, he was responsible for technical cooperation for developing countries (1993 to 1995) and for global issues (1998 to 2001), during which time he participated in a number of negotiations on climate change as well as on multilateral environmental agreements (MEAs). He assumed the role as vice-chair of the UN Commission on Sustainable Development in its twelfth session (2004). Mr. Shimizu holds a Bachelor’s degree in Law from Kyoto University.

Mr. Rizar Indomo Director for Regional Cooperation, Investment Coordinating Board, Indonesia

Mr. Nazaroedin is the Director for Regional Cooperation on the Investment Coordinating Board (BKPM) of the Republic of Indonesia. BKPM is an investment agency which has a mandate to boost domestic as well as foreign investment, by way of improving the investment climate to create a better investment environment. Since joining BKPM in 1982, he has held a range of Directorship positions including those for Regional Cooperation, Bilateral-Multilateral Cooperation, and for Investment Compliance and Aftercare.

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In his current position, Mr. Nazaroedin is responsible for dealing with the international investment agreement and Fair Trade Agreement negotiations with ASEAN dialogue partners. He has an MBA of International Business from St. Louis University of Missouri, United States and a Bachelor in Industrial Engineering from Bandung Institute of Technology, Indonesia.

Mr. Roberto Echandi Former Ambassador of Costa Rica to the EU and Senior Advisor, World Trade Institute

Ambassador Echandi is a member of the Faculty and Director of the Program on International Investment at the World Trade Institute (WTI) of the University of Bern. Amb. Echandi was appointed Ambassador of Costa Rica to Belgium, Luxembourg and the European Union from 2007-2010. During the same period he also was the Chief Negotiator of Costa Rica to the negotiations of the Association Agreement between the European Union and Central America. From October 2002 until January 2005, he served as Special Adjunct Ambassador for U.S. Trade Affairs. He served as Costa Rica’s lead negotiator in services and investment in the US-Central America Free Trade Agreement (CAFTA) and for more than a decade as leader of Costa Rican delegations to multiple trade and investment bilateral and regional negotiations. Amb. Echandi was also Adjunct Professor of Law, Visiting Scholar and Fellow at the Institute for International Economic Law (IIEL) of the Georgetown University Law Center, in Washington D.C. He served as Director-General for International Trade at the Ministry of Foreign Trade of Costa Rica and as legal advisor to the Appellate Body Secretariat of the World Trade Organisation (WTO) in Geneva, Switzerland. Amb. Echandi was also the Program Director of the Small Economy Trade & Investment Center (SETIC) at the Academia de Centroamérica, in San José, Costa Rica; and Professor of International Trade and Investment Law at the Diplomatic Institute "Manuel María Peralta" of the Ministry of Foreign Affairs of Costa Rica. Amb. Echandi has published widely on the legal and political economy dimensions of investment issues, dispute settlement and trade in services and regional economic integration in the Americas. He has served as a consultant to the OECD, the World Bank, UNCTAD, the Organisation of American States, the Inter-American Development Bank and the WTO. Amb. Echandi undertook his doctoral and LL.M. studies in International Trade Law at the University of Michigan School of Law at Ann Arbor, Michigan; his M.Phil. in Latin American studies with emphasis in economic integration at the University of Oxford; Licenciado en Derecho, at the University of Costa Rica and specialised negotiation courses at the JFK School of Government at Harvard University.

Mr. Rudolf Dolzer Professor, Institute of International Law, University of Bonn, Germany

Prof. Dolzer received his legal education in Germany (Heidelberg Univ.) and in the United States (Harvard Law School). From 1992 – 1996 he was Director General of the Federal Chancellor in Bonn. He has written extensively for thirty years on foreign investment law. In 1995 he published, together with Margrete Stevens, the book on “Bilateral Investment Treaties”. In 2008 he authored a book on “Principles of International Investment Law” together with Christoph Schreuer. For 25 years, he has acted in numerous arbitrations as an expert and as an arbitrator.

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Prof. Dolzer has taught at the Chinese Academy of Social Sciences, Michigan Law School, Cornell Law School, Massachusetts Institute of Technology, Yale Law School, University of Paris 1 (Sorbonne), Instituto de Empresa Business School. Between 1996 and 2009, he was Director of the Institute for International Law at the University of Bonn. He is a member of various boards of German and international institutions. In August 2010 Prof. Dolzer gave lectures at The Hague Academy of International Law on “The Evolution of Oil and Gas Law from an International Perspective.”

Mr. Huagun Zeng Professor, Xiamen University Law School, China

Prof. Zeng is a Law Professor and Director of International Economic Law Institute, Xiamen University, China; Executive Vice President, Chinese Society of International Economic Law; Member, Standing Council, Chinese Society of International Law; Member, the Curatorium and Co-president, the Administrative Council, Xiamen Academy of International Law; Arbitrator, China International Economic and Trade Arbitration Commission. Prof. Zeng was Visiting Research Fellow in East Asian Institute (EAI), National University of Singapore, Singapore (1998-1999); Visiting Scholar in School of Oriental and African Studies (SOAS), University of London, UK (1996, 1998), Swiss Institute of Comparative Law, Switzerland (1995-1996), Faculty of Law, Hong Kong University (1993) and College of Law, Willamette University, USA (1987-1988). His recent publications include: Introduction to International Economic Law, Publishing House of Law, 2nd edition, 2007 (in Chinese); WTO and the Development of Chinese Foreign Investment Law, Xiamen University Press, 2006 (in Chinese); Initiative and Implications of Hong Kong’s Bilateral Investment Treaties, The Journal of World Investment & Trade, Vol.11, No.5., 2010 (in English); Unprecedented International Status: Theoretic and Practical Aspects of the HKSAR’s External Autonomy, The Journal of World Investment & Trade, Vol.9, No.3., 2008 (in English); “One China Four WTO Memberships”: Legal Grounds, Relations and Significance, The Journal of World Investment & Trade, Vol.8, No.5., 2007 (in English); Promoting a New Bilateral Legal Framework for China-EU Economic Relations, Chinese Journal of International Law, Vol.3, No.1, 2004 (in English). He also works for the public as Deputy Director, Commission of Home Affairs and Justice, People’s Congress of Xiamen Municipality, 2002-present; and Legal Consultant, People’s Government of Fujian Province, 2001-present. Prof. Zeng graduated from Xiamen University (Doctor of Law, 1990; Master of Law, 1984; Bachelor of History, 1982).

Mr. Barton Legum Partner, Head - Investment Treaty Arbitration, Salans LLP, Paris, France

Mr. Legum is a partner in the Paris office of Salans and head of the firm's investment treaty arbitration practice. He has over 20 years’ experience in litigating complex cases, with a focus on international arbitration and litigation in general and arbitration under investment treaties in particular. From 2000 to 2004, Mr. Legum served as Chief of the NAFTA Arbitration Division in the Office of the Legal Adviser, United States Department of State. In that capacity, he acted as lead counsel for the United States Government defending over $2 billion in claims submitted to arbitration under the investment chapter of the North American Free Trade Agreement (NAFTA). The United States won every case decided under his tenure. Mr. Legum is a member of the Executive Committee, the Council and the Administration Committee of the American Bar Association's Section of International Law, and serves as the Section's Vice Chair. He will

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become Chair of the Section in 2012. He is the editor of International Litigation Strategies and Practice (2005), a book published by the American Bar Association, and frequently writes and speaks at conferences on international arbitration and litigation.

Session II: Investor-State Dispute Settlement: Is the system at a crossroads?

Ms. Lucy Reed Partner, Freshfields Bruckhaus Derringer LLP, New York, United States

Ms. Reed is co-head of Freshfields’ global international arbitration group. Lucy represents private and public clients in investor-state and commercial arbitrations, and is ranked the “star individual” international arbitration practitioner by Chambers USA (2009). Her high-profile ICSID cases include representing CMS Energy against Argentina and ConocoPhillips against Venezuela, and defending Turkey against Libananco, Cementownia Nowa Huta and Europe Cement. A frequent speaker and writer on international arbitration topics, she is a co-author of the Guide to ICSID Arbitration (Kluwer). Among other positions before joining Freshfields, Lucy served as the U.S. State Department’s Agent to the Iran-United States Claims Tribunal in The Hague. She is the immediate past President of the American Society of International Law, Chair of the Institute for Transnational Arbitration, a member-elect of the LCIA Court, and a member of the Council on Foreign Relations.

Mr. Vernon McKay Deputy Director, Investment Trade Policy Division, Department of Foreign Affairs and International Trade, Canada

Mr. MacKay is a Deputy Director of the Investment Trade Policy Division of Canada's Department of Foreign Affairs and International Trade. He joined the Department in August 1998. Prior to that he was a policy analyst with the Canadian International Development Agency.

The focus of Mr. MacKay's work in the past twelve years has been on international investment policy. Key activities of his work have included the negotiation of bilateral investment treaties and investment chapters in free trade agreements. Current negotiations led by Mr. MacKay include Canadian investment treaties with China, Indonesia, Vietnam and Mongolia, and he is involve in several bilateral free trade negotiations as well.

Mr. MacKay has been closely involved with the work of the OECD Investment Committee since 1998 and

is currently the Vice Chair of the Investment Committee Working Party.

Mr. Gabriel Bottini Coordinator, Department of International Affairs, Procuración del Tesoro de la Nación, Argentina

Mr. Bottini is the Director of the Department of International Affairs and Controversies of the Treasury Attorney General’s Office of the Republic of Argentina. The Treasury Attorney General’s Office defends Argentina before international arbitral tribunals and other international courts. Mr. Bottini has extensive experience in ICSID and UNCITRAL arbitrations, as well as in arbitrations under ICC rules. Mr. Bottini teaches international public law at the University of Buenos Aires, Argentina. He has lectured at many universities and international organisations around the world on issues of investment litigation and international law, and has published extensively on such matters. He has been awarded scholarships by the Fulbright Commission and other international institutions.

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Mr. Bottini holds a law degree magna cum laude from the University of Buenos Aires and an LLM from New York University School of Law.

Ms. Eloïse M. Obadia Senior Counsel and Team Leader, International Centre for Settlement of Investment Disputes (ICSID, World Bank Group)

Ms. Obadia, Avocat à la Cour and Attorney-at-Law, New York, joined ICSID in December 1997. She has served as Secretary of the Tribunal in several arbitral proceedings brought under the ICSID Convention, the ICSID Additional Facility Rules and the UNCITRAL Rules. She has also served as Secretary of Conciliation Commissions and ad hoc Committees in annulment proceedings brought under the ICSID Convention. In addition, she has served as Coordinator in an Expert Determination under the Indus Waters Treaty (1960). Before joining ICSID, Ms. Obadia was an associate with the law firm Curtis, Mallet-Prevost, Colt & Mosle, Paris, France, and visiting lecturer at Duke University. Mrs. Obadia completed a Master of Laws at Duke University. She holds degrees from the University of Paris II Panthéon-Assas and the University of Paris-Dauphine.

Mr. Jason Fry Secretary General of the ICC Court of Arbitration

Mr. Fry was appointed Secretary General, ICC International Court of Arbitration (Paris) and Director of Dispute Resolution Services of the ICC in 2007. Prior to this appointment Mr Fry was a partner of the international arbitration practice of Clifford Chance LLP, based in Paris. He has significant experience as counsel, advocate and arbitrator in international arbitration proceedings. Mr. Fry is a Solicitor of the Supreme Court of England and Wales and a Barrister and Solicitor of the High Court of New Zealand. He is a Fellow of the Chartered Institute of Arbitrators and was the Member for New Zealand of the International Court of Arbitration of the International Chamber of Commerce from 1999 until 2007.

Prof. Kate Miles Lecturer, Faculty of Law, University of Sydney, Australia

Prof. Miles is a senior lecturer in International Law at the Faculty of Law, University of Sydney, specialising in international investment law and international environmental law. She serves on the International Law Association’s Study Group on the Role of Soft Law Instruments in International Investment Law. Prof. Miles is also a Research Fellow with the Centre for International Sustainable Development Law, Montreal, Canada, and coordinates the International Investment Law Network for the Society of International Economic Law. She is a Visiting Fellow at the Lauterpacht Centre for International Law, University of Cambridge, during July–December 2010. Prof. Miles holds an LL.M. in Environmental Law (Hons I) from the University of Auckland and an LL.M. in International Legal Studies from New York University School of Law. She was the recipient of the Geoffrey Powell Prize and the Gary Davies Medal as an undergraduate at the University of Auckland. She was awarded an Australian Postgraduate Award to pursue her doctorate at the University of Sydney on the interrelationship between international investment law and principles of environmental protection. She has also practiced in leading commercial law firms in Auckland and Sydney, including at Allens Arthur Robinson.

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Ms. Loretta Malintoppi Of Counsel, Eversheds International, Paris, France

Ms. Malintoppi is Of Counsel with the Paris Office of Eversheds LLP. Ms Malintoppi is dual-qualified, in Rome and Paris, and specialises in public international law and international arbitration, including investment arbitration and State-to-State disputes. She has acted as counsel, advocate and arbitrator in a number of arbitrations regarding disputes arising out of international commercial contracts and has represented private companies, States and State entities in UNCITRAL, ICC and ICSID proceedings. Ms. Malintoppi has appeared as counsel and advocate before the International Court of Justice and has also represented States in ad hoc public international law arbitrations. She was a member of the ICC International Court of Arbitration from 2000 to 2009 and is currently a vice-President of the Court. Ms Malintoppi has co-authored the second edition of Schreuer's The ICSID Convention: A Commentary and has written a number of articles on international and investment arbitration and State-to-State litigation. Ms. Malintoppi is the Managing Editor of the legal journal The Law and Practice of International Courts and Tribunals and is the editor of a Series of handbooks entitled International Litigation in Practice, both published by Martinus Nijhoff. Ms. Malintoppi has a Law Degree from Rome University and holds an LL.M. in Common Law Studies from Georgetown University Law Centre.

Prof. Shotaro Hamamoto University of Kyoto, Japan

Prof. Hamamoto is a Professor with the Kyoto University in Japan. He is also a Professeur invité, at the Paris 1 University de Paris I, France (2008). He was Assistant to the Spanish Government in the Fisheries Jurisdiction Case (ICJ, 1998), an advocate for the Japanese Government in the Hoshinmaru and Tomimaru Cases (ITLOS, 2007). He is an Arbitrator at the Japan Sports Arbitration Agency (2008-) and the Japanese Representative to UNCITRAL WGII (Arbitration and Conciliation) (2010-). Prof. Hamamoto’s recent publications include: "Japan" (co-authored with Luke Nottage), in Chester Brown and Devashish Krishan (eds.), Commentaries on International Investment Agreements (OUP, forthcoming in 2011). Prof. Hamamoto holds an LL.B. and an LL.M. from from Kyoto University and a Docteur en droit from Paris II University.

Ms. Yas Banifatemi Partner, Shearman & Sterling LLP, Paris, France

Ms. Banifatemi is a partner in Shearman & Sterling’s International Arbitration Group and leads the firm’s Public International Law Practice. Ms. Banifatemi has represented multinational corporations, States and State-owned entities in over 50 international arbitration cases. She has acted as counsel and arbitrator in arbitration cases under the ICSID, UNCITRAL, ICC, LCIA, SCC, CRICA and Swiss Arbitration Rules, with particular focus on international investment, oil & gas and general commercial matters. Ms. Banifatemi has also advised multinational corporations and Governments on a variety of public international law issues, including law of treaties, State responsibility, State contracts, immunities of States and international organisations, international boundaries and law of the sea.

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She has authored numerous articles on international arbitration and international law. She also regularly appears as a speaker, particularly on issues of investment arbitration and international law. Ms. Banifatemi holds a PhD in Public International Law from Université Panthéon-Assas (Paris II) and an LL.M. from Harvard Law School. She teaches International Investment Law at Université Panthéon-Sorbonne (Paris I).

Mr. Jean-Claude Najar GE Capital, General Counsel, France and Senior Counsel EMEA; Honorary Founder & Member of the Steering Committee, Corporate Counsel International Arbitration Group (CCIAG)

Mr. Najar is a senior lawyer with GE where he has practiced for 21 years. He is the General Counsel for France and has corporate legal and compliance responsibilities for the EMEA region. He represents GE on Transparency International’s Principles for Countering Bribery (BPCB) Steering Committee, and occasionally on the OECD Anti-Bribery Working Group. Mr. Najar previously served as Senior Counsel & Chief Compliance Officer for GE Capital EMEA; as worldwide group General Counsel of GE Oil & Gas in Florence, Italy; and as Vice-President & General Counsel of GE Medical Systems (now GE Healthcare) EMEA in Paris. He started his career in the Paris office of Coudert Brothers, where he specialized in international arbitration. Mr. Najar is the Honorary Founding President of the Corporate Counsel International Arbitration Group (CCIAG), and a member of its Steering Committee. He is a past Senior Chair of the IBA’s Corporate Counsel Forum, and a past Vice-President of the LCIA Court. Mr. Najar read law at the Universities of Lausanne, Switzerland; the Sorbonne (Paris-I); and the London School of Economics, from which he holds an LL.M. He publishes and lectures extensively on international commercial arbitration, ADR, compliance, corporate governance, and the role of in-house counsel.

Session III: Two core provisions of IIAs and their impact on the investor-state dispute settlement system: Definition of Investment and Most Favoured Nation treatment

Professor August Reinisch University of Vienna, Austria

Prof. Reinisch is professor of international and European law at the University of Vienna and professorial lecturer at the Bologna Center/SAIS of Johns Hopkins University. He currently serves as arbitrator on the In Rem Restitution Panel according to the Austrian General Settlement Fund Law 2001 on a pro bono basis and as arbitrator in various investment arbitrations. From 2004 to 2006 and as of 2010 he was/is Dean for International Relations of the Law School of the University of Vienna. His professional experience includes expert adviser in Austrian and foreign court litigation as well as international arbitration; he was a Member of the ILA Committee on International Law on Foreign Investment, and he is a member of the ILA Study Groups on Accountability of International Organisations, State Insolvency, and the Role of Soft-Law Instruments in International Investment Law. He is president of the Austrian Branch of the ILA, Executive Board member of the European Society of International Law and of the German Society of International Law, as well as member of ASIL, ACUNS and other professional associations in the field of international law. In addition to his appointments as arbitrator on investment tribunals, Prof. Reinisch has served as legal expert in numerous ICSID and non-ICSID proceedings. He is a member of the Panels of Conciliators and of Arbitrators maintained by ICSID.

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He has published widely in international law with a recent focus on international investment law, the law of international organizations, international responsibility, human rights and non-state actors. Prof. Reinisch holds Master’s degrees in philosophy (1990) and in law (1988) as well as a doctorate in law (1991) from the University of Vienna and an LL.M. (1989) from NYU Law School. He is admitted to the Bar of New York and Connecticut (since 1990).

Mr. Nikos Lavranos Senior Policy Advisor, General Directorate for Foreign Economic Relations, Ministry of Economic Affairs, Netherlands

Since March 2010 Mr. Lavranos has worked for the Dutch Ministry of Economic Affairs as Senior Trade Policy Advisor responsible for all Dutch BITs. Prior to this, he acted as interim Academic Research Director EU Law at the Hague University. In the academic year 2008-2009, he was Max Weber Fellow at the EUI. Last year he published his second book on Jurisdictional Competition between international courts and tribunals. In 2004 he received his PhD from Maastricht University for his thesis on Decisions of International Organisation in the European and Domestic Legal Orders of selected EU Member States.

Mr. Hasan Aslan Akpinar Treasury Expert, General Directorate of Foreign Investment, Undersecretariat of Treasury, Turkey

Mr. Akpinar has worked in the General Directorate of Foreign Investment of the Turkish Treasury since 1997 as a Treasury Expert on Bilateral Investment Treaties. Since the beginning of his career at the Treasury he has attended Bilateral Investment Treaty and Free Trade Agreement negotiations with more than thirty countries. Mr. Akpinar graduated from Istanbul University, Faculty of Economics, and earned a Bachelor’s degree in International Relations in 1994. Between 2001 and 2003 he attended Fletcher School of Law and Diplomacy, Tufts University earning a Degree of Master of Arts in Law and Diplomacy.

Mr. Arif Ali Partner, Crowell & Moring, Washington, D.C., United States

Mr. Ali is Co-Chair of Crowell & Moring LLP’s International Dispute Resolution Practice. He is also an Adjunct Professor of Law at the Georgetown University Law Center, and an Honorary Lecturer at the University of Dundee’s Centre for Energy, Mining and Petroleum Law and Policy. He has represented private and state parties in commercial and investor-state arbitrations and mediations involving thermal, nuclear and hydro power plants, oil and gas pipeline construction and concession-related matters, tourism projects, project finance and development agreements, patents and trademarks, and information technology. He has also represented parties before inter-governmental tribunals, such as the United States-Iran Claims Tribunal and the United Nations Compensation Commission. Mr. Ali has been recognized as a leading international lawyer and arbitration practitioner by Who’s Who in American Law, Who’s Who in Public International Law, Chambers and Partners (USA), The Legal Media Group's Guide to the World's Leading Experts in Commercial Arbitration, The International Who’s Who of Commercial Arbitration, and Lawdragon. In 2001, he was decorated with the Order of Bahrain (II) for his role in representing Bahrain in its territorial and maritime border dispute with Qatar before the International Court of Justice. He is a member of the arbitrator panels of several leading arbitral

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institutions, and lectures on arbitration worldwide. He has an extensive list of publications relating to international arbitration, including a forthcoming book entitled “The International Arbitration Rule Book: A Practitioner’s Guide.” He received his Juris Doctor from New York University Law School (1990, Vanderbilt Medal), and his B.A. in Political Science from Columbia University (1986, Summa cum Laude, Phi Beta Kappa). Prior to joining Crowell & Moring, Mr. Ali held senior positions at the United Nations Compensation Commission, the WIPO Arbitration and Mediation Center and practiced international arbitration with law firms in Paris, Houston and Washington, D.C.

Mr. Raimundo Gonzalez Head of Service and Investment and Air Transport Department, Ministry of Foreign Affairs, Chile

Mr. Gonzalez is a Lawyer and Master in Public Policy. He makes up part of the Chilean negotiating team in bilateral and multilateral forums specifically on investment and services related issues. He is currently Head of Chile's investment negotiating team in charge of TPP, China and Brazil. Mr. Gonzalez has given lectures in international investment law in national universities and for foreign States.

Mr. David Pawlak Partner, David A Pawlak LLC

Mr. Pawlak, an attorney admitted to the bar of the State of New York, provides advisory and representation services in international arbitration matters with a focus on investor-State disputes. Mr. Pawlak has represented clients in arbitration matters under the rules of the United Nations Commission on International Trade Law (UNCITRAL); the International Centre for Settlement of Investment Disputes (ICSID) Additional Facility; the International Arbitral Center of the Austrian Federal Economic Chamber, Vienna (VIAC); and the International Chamber of Commerce (ICC). His recent engagements include, among other matters, serving as lead counsel to the Slovak Republic in defense of a multimillion Euro investment treaty claim. He also led the defense of a multimillion dollar claim brought against Poland under the UNCITRAL Arbitration Rules and the Poland-U.S. bilateral investment treaty. He has been retained to advise the Ukraine in connection with two ICSID investment treaty matters. Mr. Pawlak also has assisted the Colombian government in the implementation of its investment treaty obligations. The United Nations Conference on Trade and Development (UNCTAD) has called upon him to provide training on investment treaty matters for officials from dozens of governments at courses in Malaysia, Ukraine, Belarus and Peru. He also has provided technical assistance to Morocco on the investment provisions of the Morocco-US Free Trade Agreement, and advised Chile on revisions to its Model BIT. Mr. Pawlak’s recent commercial arbitration matters include a high-value European telecommunications industry arbitration sited in Vienna. Until August 2005, Mr. Pawlak served as an Attorney-Adviser in the Office of the Legal Adviser at the US Department of State. He was a key member of the US legal team dedicated exclusively to investment treaty matters. Prior to beginning work with the US Department of State in 2001, Mr. Pawlak was an associate at Milbank, Tweed, Hadley & McCloy in New York. While there, he focused on complex commercial litigation and international arbitration. Prior to Milbank Tweed, he held the position of Assistant District Counsel in the US Department of Justice Honors Program.

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Mr. Pawlak has lectured on arbitration, including at international conferences and training programs in Asia, Africa, Europe, Latin America and the United States. He is a member of UNCTAD’s international investment agreements experts group, and the Panel of Arbitrators at the International Centre for Settlement of Investment Disputes (ICSID). Mr. Pawlak has written on international arbitration and trade and investment treaty issues, including a book chapter entitled Managing Investment Treaty Obligations And Investor-State Disputes: A Guide for Government Officials (Kluwer International Law 2008).