Canada Ratifies Convention on Settlement of Investment Disputes between States and Other States’ Nationals

Vol. 43 No. 3

By

Susan M. Hutton is a senior partner in Stikeman Elliott’s Competition and Foreign Investment and International Trade practice groups. She is based in the firm’s Ottowa office.

Douglas F. Harrison is a partner in Stikeman Elliott’s litigation section in Toronto.

Settling international investment disputes has changed for Canadians. With the coming into force of the Settlement of International Investment Disputes Act on November 1, 2013, Canada has now ratified the Convention on the Settlement of Investment Disputes between States and Nationals of Other States. The Convention is a multilateral international treaty that entered into force on October 14, 1966, and that has now been ratified by 150 of its 159 signatory countries (as of April 11, 2014). This facilitates international investment by providing a mechanism for settling disputes between governments and foreign investors. Although Canada signed the Convention in 2006 and passed the Act in 2008, ratification was delayed until all provinces and territories also passed implementing legislation.

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