A Study On The Legal Issues Of Transparency In International Investment Arbitration

For a long time,international investment arbitration has inherited the essential characteristic of the secrecy of commercial arbitration.At a time when the global economy is becoming more closely linked,capital flows more active,there are more and more relevant investment treaties,and the number of cases for arbitration of international investment disputes remains high,Its secrecy has been criticized by the general public.Many related people argue that the increase of transparency in the international investment arbitration process will relieve the pressure of secrecy of international investment arbitration greatly,which is also beneficial to its long-term development.Therefore,the related arbitration mechanisms have made many efforts in transparency,such as “ICSID arbitration rules”,NAFTA transparency rules and practices,UNCITRAL “transparency rules” and “transparency convention”,and so on.These measures have promoted the development of transparency reform effectively.As a dual power,China should face up to the value that the transparency reform can bring and carefully change the relevant domestic legal systems.Briefly speaking this paper include four parts:The introduction first introduces the background of transparency in international investment arbitration and the practical significance of increasing transparency,points out the negative effects of the secrecy of its arbitration procedures for a long time,it is concluded that it is necessary to increase transparency.Further,the transparency reform should not exceed the necessary limit,and cannot be overdone.The first part is an analysis of the advantages and disadvantages of transparency in international investment arbitration.Firstly,it introduces the meaning of transparency in investment arbitration briefly.Secondly,it analyzes the benefits of increasing transparency in international investment arbitration.Then it makes a detailed statement of its possible drawbacks,through the analysis of advantages and disadvantages,hopes to find a balance between transparency and secrecy,and increase transparency in international investment arbitration appropriately.The second part expounds the reform of transparency by relevant international investment arbitration mechanism,analyzes and evaluates its reform content and practice.By stating the specific changes in transparency under “ICSID arbitration rules”,UNCITRAL “transparency rules” and “transparency convention”,NAFTA transparency rules and declarations,including the disclosure of relevant documents and the participation of the third parties,the openness of the trial and the practice of transparency under each arbitration mechanism,analyzes the practical value brought by the transparency reform of the international investment arbitration mechanism.The third part is the attitude of typical countries to increase transparency.This part is divided into developed countries and developing countries to make detailed statements,including Canada,the United States,Germany and other developed countries,Mexico,Argentina,Chile and other developing countries,through analysis and compare the attitudes of each country,We can see the differences between developed and developing countries in transparency,it is concluded that the reform of transparency also requires the joint efforts of all countries so that arbitration can play an important role in international investment.The fourth part discusses the problems and suggestions of transparency of China's international investment arbitration.Firstly,this part analyzes the practice of international investment arbitration in China,enumerates some cases under relevant arbitration rules,and analyzes the significance of enhancing transparency to our country.Secondly,it points out the problems existing in the transparency of international investment arbitration in China,including the attitude towards transparency,the development of non-governmental organizations and the problems existing in the relevant domestic legal system.Finally,this part discusses the suggestions on the transparency of international investment arbitration,and puts forward some concrete measures to deal with the transparency problem in the future.