New NAFTA Curbs ISDS
As the new replacement agreement for NAFTA was announced last night, Mexico attorney Carlos Vejar was asked by Global Arbitration Review on his view of the USMCA as the new agreement will be signed in November and begin in 2020. Mr. Vejar focused primarily on the Investor-State Dispute Settlement (ISDS) limitations put in place between the U.S. and Mexico, but eliminated completely between U.S. and Canadian investors.
Mr. Vejar sees the ISDS arrangements in the deal as positive for his country "as a net importer of foreign investment."
"After a long period of uncertainty, Mexico has managed to maintain an ISDS mechanism even though the original US position tended in favour of its elimination," Mr. Vejar says.
READ: New NAFTA Curbs ISDS (Subscription Required)