On October 5, USCIB Vice President for Investment and Financial Services Shaun Donnelly participated in a panel discussion in a day-long OECD/G20 Global Forum on International Investment in Istanbul.
Along with Donnelly, the following panelists made the case for strong investment chapters in international trade agreements, including investor-state dispute settlement (ISDS): Deputy U.S. Trade Representative Michael Punke; Kurt Tong, principal deputy assistant secretary for the bureau of economic and business affairs at the Department of State; and Bernhard Welschke, secretary general of the Business and Industry Advisory Committee (BIAC) to the OECD.
“Other panelists, including from the EU and other foreign governments plus senior OECD staff, criticized investment agreements, especially ISDS arbitration procedures,” said Donnelly. “Our ‘gang of four’ and a few other business panelists each in our own way made the case for strong investment agreements.”
Donnelly continued: “We’re counting on Ambassador Punke, representing USTR Michael Froman, to be a strong voice for strong, balanced Investment agreements along lines of U.S. Model Bilateral Investment Treaty.”