Analysis of the Construction of Investor-state Investment Dispute Settlement under RCEP

Abstract

On January 1, 2022, the Regional Comprehensive Economic Partnership Agreement (RCEP) officially entered into force, marking the official landing of the world's most populous, largest economic and trade scale and most promising free trade area, which fully reflects the confidence and determination of all parties to jointly uphold multilateralism and free trade and promote regional economic integration, which will contribute to regional and global trade and investment growth, economic recovery and prosperity It will make an essential contribution to regional and international trade and investment growth, economic recovery and prosperity. Under RCEP, investment activities between China and ASEAN (Association of Southeast Asian Nations) countries will be further opened up and developed more deeply, which will inevitably lead to some disputes between investors and host countries will inevitably arise. However, RCEP puts aside the discussion on the investment dispute settlement mechanism between investors and governments. Although the RCEP currently proposes an alternative way for investors to seek redress in the dispute settlement chapter of Chapter 19, its implementation still needs to be improved in terms of protection. The existing dispute settlement mechanism still needs to efficiently and comprehensively protect and balance the reasonable rights and interests of investors and host countries. The RCEP parties shall jointly explore the construction of dispute prevention, consultation, mediation, arbitration, litigation, etc. A dispute settlement mechanism between the investor and the host country that integrates dispute prevention, negotiation, mediation, arbitration, and litigation is excellent.