Environmental Engineering Reference
In-Depth Information
states shared common interests in
(
...
) capital yields security of supply an envi-
'
ronmental improvements (
) economic
recovery, security of supply through diversified forms of energy production, energy
efficiency, and again environmental improvements
...
)
and Eastern European states desired
(
...
'
'
.
39
The ECT is the only treaty
which guarantees a free transfer of capita,
40
and does not infringe on state sover-
eignty in respect of national energy supply.
41
The ECT is not limited to investment
and trade regulations as environmental standards play also a major role, which is
not surprising as
'
) efficiency and environmental protection are considered to be
essentially economics-based
'
.
42
However, Morocco is not a party to the ECT, as
most MENA countries only have an observer status and the ECT cannot serve as an
investment protection framework.
(
...
'
3.2.2 Multilateral Agreements
There are also multilateral agreements, which differ from regional agreements and
BITs. Multilateral agreements mostly complement regional agreements and BITs,
but they do not offer a comprehensive investment protection. Besides the regula-
tions of
the WTO,
the OECD offers interesting approaches to investment
protection.
3.2.2.1 WTO Regulation
The settlement of disputes under the auspices of the WTO is done according to the
Dispute Settlement Understanding (DSU).
43
Pursuant to Art. 23(1) of the DSU, the
DSU is in charge to solve disputes related to WTO law.
44
Art. 1(1) of the DSU
regulates that the DSU shall apply to all disputes settlement provisions of what are
known as “covered agreements” (Appendix 1 to the DSU). Appendix 1 of the DSU
mentions several agreements within its paragraphs, whereas in paragraph B, the
Agreement on Trade-Related Investment Measures (TRIMs), the Agreement on
Trade-Related Aspects of Intellectual Property Rights (TRIPs) and the General
Agreement on Trade in Services (GATS) are of high relevance for investments. The
World Trade Organization (WTO) law includes some regulations concerning
39
Marauhn (
1996
), 301 (327).
40
Karl (
1994
), 809 (813).
41
Kemper (
2003
), 504 (506).
42
Marauhn (
1996
), 301 (328-329).
43
Ebner (
2005
), 107-108.
44
Zampetti and Sauv´ (
2007
), 211 (261-262); No parallel processes are allowed, in: Ebner (
2005
),
108; Article 23(1) DSU is not intended to be the exclusive norm, forbidding any other dispute
resolution, in: Neumann (
2001
), 529 (554).