On The Recognition And Enforcement Of International Investment Arbitration Award

With the rapid growth of international investment in recent years,international investment arbitration,as one of the solutions to international investment disputes,has been paid more and more attention by the international community.The recognition and enforcement of international investment arbitration awards is related to the realization of the results of international investment arbitration,which is the key content of the arbitration system,directly affects the development of the international investment arbitration mechanism,and is also one of the core manifestations of the reform of the international investment arbitration mechanism.On the Belt and Road Initiative,it is also considered in the topic selection,and the special role of adjudication recognition and enforcement is also discussed.Under the initiative of one belt,one road,the international investment activities between China and the countries along the line and the countries along the line are more frequent and investment is huge.The traditional international investment arbitration award system is based on the interests of developed countries,which is not in line with the interests of countries along the "Belt and Road".Therefore,on the basis of reasonable interpretation of the recognition and enforcement basis of the existing awards,relevant arbitration clauses in the BIT between China and countries along the belt and road should be integrated.This is an important way to protect the investment security of China and countries along the belt and road in international law and an important guarantee to promote the common and coordinated development of all countries.The logical thinking of the paper is: put forward the problem--analyze the problem--solve the problem,and adopt the methods of historical analysis,comparative analysis,normative analysis,case analysis to carry out the research.Is the core of the thesis:international investment arbitration award the recognition and enforcement of the problem lies in the decision basis for the recognition and enforcement,the ICSID convention,the New York convention and other investment treaty ruled under the recognition and enforcement of the rules are different,leading to consistency,public policy in the ruling,state immunity and judicial review on issues such as conflict and contradiction.On this basis,through the improvement of the existing relevant theories and the introduction of the theory of international relations,it provides legal countermeasures for the solution of the issue of recognition and enforcement of the ruling.According to the above logic and core ideas,the main content of the paper is divided into parts:First,the basic theory of recognition and enforcement of international investment arbitration awards.This part mainly expounds the impact of the reform of international investment arbitration mechanism on the recognition and enforcement of awards,the definition of the basic concepts of recognition and enforcement of awards,the basis and object of recognition and enforcement of awards.At the same time,the settlement of the issue of recognition and enforcement of awards needs rich theoretical basis,including three aspects: first,the implementation of the theory of fairness and justice in the conflict of interest between the host country and investors,and the change of the situation of excessive protection of private investors in arbitration practice,that is,the change of the concept of recognition and enforcement of awards.Next,the resolution of the issue of recognition and enforcement of the ruling also lies in the existence of "interdependence" in the interests of the main bodies of international economic activities.We should introduce "interdependence theory" into the reform and improvement of relevant systems to make clear that all parties involved in investment disputes have common interests and depend on each other,that is,we should pay attention to the influence of the theory of international relations on the theoretical reform of international investment law.The last one is the application of the theory of the relationship between international law and domestic law in solving the problem of recognition and enforcement of adjudication.The problems faced in the recognition and enforcement of international investment arbitration awards,such as state immunity,public policy reservation,review and supervision,are essentially related to the application of international law rules in China.Therefore,it is necessary to start with the relationship between international law and domestic law,and analyze the theoretical basis supported by the domestic law of the country where the award is executed in the recognition and enforcement of the award,so as to effectively coordinate the application of the international law on which the recognition and enforcement of the award is based and the domestic law of the country where the award is executed.Second,there are problems in the recognition and enforcement of international investment arbitration awards.In the third chapter,the fourth chapter and the fifth chapter,the thesis respectively explains the three major problems in the recognition and enforcement of international investment arbitration awards.Based on the analysis of the problems,the thesis puts forward corresponding solutions combining with the three theories in the second chapter.The specific contents are as follows: first,the issue of state immunity in the recognition and enforcement of awards.The obstacles to the recognition and enforcement of awards caused by the application of the principle of state immunity mainly include the conflicts between different arbitration awards based on the provisions of state immunity,and the obstacles to the recognition and enforcement of awards caused by the rules on state immunity in the local law of the court.In theory,we should turn to the theory of relative immunity and reasonably explain the vague clauses in treaties to realize the obstacles of absolute immunity theory to the recognition and enforcement of rulings.At the same time,it has become an international custom to promote the theory of limited immunity.Next,the public policy issues in the recognition and implementation of the ruling.The obstacles caused by the differences in the interpretation of "public policy" clauses in the treaty mainly include the obstacles of "public policy reservation" to the recognition and implementation of ICSID award,and the obstacles of "public policy" clauses in the New York Convention to the recognition and implementation of ICSID award.Therefore,it is suggested to coordinate the interpretation of public policy provisions under different arbitration rules,and to introduce friends of court to provide solutions when disputes arise in the interpretation of public policy.The last one,the review of the recognition and enforcement of the award.Obstacles caused by differences in judicial review policies in the field of international investment arbitration between the recognition and enforcement countries of each award.This part highlights the realization of the function of the supervision of the award,and discusses in detail the selection of the application of the review rules of commercial arbitration and investment arbitration in the recognition and enforcement of non ICSID awards and the appeal mechanism of ICSID awards.Third,the main content of problem solving.On the one hand,based on China's rules and practice in the field of international investment arbitration,some suggestions are put forward.For example,when China accedes to ICSID convention,the adjustment of "explanation";the selection of appropriate time to allow the application of New York Convention in China's international investment arbitration;and the coordination of bit,ICSID Convention and New York Convention.On the other hand,one belt,one road initiative,the recognition and enforcement mechanism of the award.China's one belt,one road initiative and the regional investment dispute settlement need to be combined with the existing system of adjudication and enforcement,and put forward corresponding suggestions,including the formulation of domestic law rules that are conducive to balancing investors and national interests,the integration of arbitration clauses between China and the BIT along the lines,and the promotion of mutual recognition and enforcement mechanism of investment arbitration awards along the lines.