On 9 October 2015, Datuk Professor Sundra Rajoo spoke at the CIArb Irish Branch Centenary Conference on “Trends in investor-State dispute settlement in the Asia Pacific: Reassessing the role of regional arbitral institutions”. The presentation focused on trends of investor-State dispute settlement in the Asia Pacific and the increasing relevance of regional arbitration institutions like the KLRCA.
The Philip Morris case against Australia has triggered a shift in the perception of investor-State arbitration in the States of the region, with many States looking to renegotiate their investment treaties. This may also be noticed from the TPPA and the TTIP negotiations. After an analysis of the Philip Morris case and the issues it raises, Datuk Sundra’s presentation laid out the differing positions taken by the States of the region.
The presentation elaborated upon the different aspects of the State that are influenced by investor-State arbitration – judicial subjection of State sovereignty before Arbitral Tribunals, political repercussions and the effects on public including future investments in the region. Finally, Datuk Sundra highlighted the role of the KLRCA in ASEAN, in providing the necessary services and facilities for investor-State arbitration and especially in light of the 2009 ASEAN Comprehensive Investment Agreement.