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The Transatlantic Trade and Investment partnership (TTIP) will be an agreement with
28 EU countries and the US. In the case of the UK, it has over 90 existing bilateral
investment treaties with other countries across the world, UK domestic courts and
the UK legal system remain the main route for resolving the overwhelming majority
of disputes that foreign investors may have with the actions of the UK Government.
Investment protection provisions and Investor-state dispute settlement (ISDS) clauses
in trade and investment treaties are nonetheless valued by investors for providing
certainty and protection from discriminatory action by host governments. Well-formulated
investment protection and ISDS provisions have the potential to encourage investment
while placing effective safeguards on the Government’s ability to regulate in the
public interest. The Government believes it is in the UK's interest to create modern
investment provisions in the Transatlantic Trade and Investment Partnership (TTIP)
to both encourage investment and create a potential model for future trade and investment
agreements with other countries. As such, we would want the ISDS mechanism in TTIP
to be in line with best practice, including the new The United Nations Commission
on International Trade Law (UNCITRAL) Rules on Transparency in Treaty-based Investor-State
Arbitration.
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