Joint Interpretation in International Investment Arbitration: An Analysis of Draft Provision 21 (A/CN.9/WG.III/WP.267) (in Russian)

As part of the ongoing reform of the investor-state dispute settlement system, UNCITRAL Working Group III is considering the possibility of making joint interpretative statements issued by the parties to the relevant international investment agreement (joint interpretations) binding.

The goal of this provision is to strengthen the control exercised by contracting states over how the relevant agreements are interpreted and applied by arbitral tribunals. It is also envisaged that the instrument of joint interpretations will help to achieve greater consistency and coherence in the interpretation of specific agreements by different tribunals, which is one of the objectives of the ongoing reform.

This article examines the draft of the relevant provision. Particular attention is paid to the impact of joint interpretations on proceedings already underway and on awards already rendered, as well as to the distinction between the interpretation and amendment of international treaties. Based on the results of the analysis, possible ways of improving the proposed regulation are suggested.

https://doi.org/10.65556/BZPW7184