Showing posts from May, 2014

Dispute Resolution in the Proposed North Atlantic Free Trade Area

Although some such as George Monbiot do not approve of it (see "This transatlantic trade deal is a full-frontal assault on democracy" 4 Nov 2013 The Guardian ) and many quite politically aware people are not even aware of it, negotiators from the United States and European Union have been hammering out a deal to create a North Atlantic Free Trade Area. If they succeed they will create a market of 800 million of the richest consumers on earth which should increase the GDP of all the countries in the arrangement enormously. An early discussion draft can be inspected here  and news of the latest negotiations can be gleaned from the press conference above. One of the reasons why Mr Monbiot does not like the deal is that disputes between businesses and governments will be determined not by the Court of Justice of the European Union or a national court but by arbitration as happens already under Chapter II of the North American Free Trade Agreement and a large number of bil