Asean, EU discuss possibility of setting up investment court

Trade and Industry Trade and Investments Secretary Ramon Lopez (File photo by GRIG C. MONTEGRANDE/Philippine Daily Inquirer)

Trade and Industry Secretary Ramon M. Lopez said that the Asean Economic Ministers and the European Union have discussed the possibility of setting up a multilateral investment court.

In a news conference on Friday, he said that discussions were being made for the court aimed at helping resolve investment disputes.

“The AEM and the EU trade commissioner exchanged views on the initiative to establish a multilateral investment court that may serve as a single global judicial instance for resolving investment-related dispputes and noted that officials would explore the idea,” he said.

EU Trade Commissioner Cecilia Malström explained that the multilateral court would be more “transparent” compared to how such issues had been handled bilaterally in the status quo.

This is among the topic discussed by the EU top official as well as the AEM who met in Manila for the 15th Asean Economic Ministers-EU trade commissioner consultations. /atm