ISDS Case Map
Colombia
Eco Oro seeks annulment of ICSID tribunal decision on damages and announces US$4.5 million financing
Eco Oro Minerals Corp. announces it has filed an application to annul the damages award issued on July 15, 2024 awarding no monetary compensation to the company by the ICSID tribunal.
Instead of supporting sustainable development, the agreement has primarily facilitated trade in environmentally harmful goods, and has also failed to introduce effective mechanisms to address sustainability challenges.
The new interpretative note on the investment chapter of the FTA seeks to avoid legal abuses and protect the sovereignty of both countries without affecting incentives for foreign investment.
A bipartisan group of US senators called on US Trade Representative to stop negotiations with Mexico, Canada and Colombia that they say would weaken investor protections in some US free trade deals during the Biden administration's final days.
Trade deals can allow international corporations to trample over the rights of governments in the Global South. That is the message from the Colombian government, which describes the effect of such deals as a “bloodbath” for their national sovereignty.
Colombia’s President said that Colombia will try to renegotiate the Free Trade Agreements with the European Union and the United States, concerning arbitration prerogatives based on national law.
Spanish telecoms company Telefonica said that the World Bank’s International Centre for Settlement of Investment Disputes had ordered the Colombian government to pay it $380 million as part of an arbitration process.
China has invited Colombia to join the Belt and Road Initiative and is “exploring the possibility of a free-trade agreement” with the South American country, Beijing’s ambassador to Bogota told local media.
The Council has adopted a decision to conclude the trade agreement between the European Union and its member states, on one hand, and Colombia and Peru, on the other, as well as a decision to conclude the protocol concerning Ecuador's accession to this agreement.
