Research On Transparency In International Investment Arbitration

One of the characteristics of arbitration is its secrecy.Therefore,commercial entities aiming at profit-making and efficiency tend to choose international arbitration to resolve disputes in the face of international economic disputes.However,with the development of the global economy,many international investment entities have shown a trend of change.As a result,the number of international investment disputes has increased further.Existing international commercial arbitration has not been able to resolve the most volatile international investment disputes.Therefore,it has inherited from international commercial affairs.Arbitration of international investment arbitration institutions came into being.However,in the course of practice,the main body of international investment disputes and non-contentious third parties discovered that the secrecy of international investment arbitration is not suitable for international investment disputes where the investment subject changes,so many international organizations,countries,and academics have their secrets.Sex raised doubts and asked for more transparency in international investment arbitration so as to protect the public interests of private entities in international investment and the home country of investors.In the case of the first case of transparency,Methanex v.USA,NAFTA took the lead in adopting the written opinions of non-controversial third parties in a practical manner,thereby opening the chapter of transparency reform.Although the case is not binding on the subsequent arbitration practice,it is Subsequent cases and conventions focused on the openness of the case to increase the fairness and reasonableness of arbitration.Some international investment dispute agencies such as ICSID,UNCITRAL,etc.also conducted treaty rules after many meetings and discussions.By studying the changes in the rules of these institutions,we can understand the latest developments in transparency in international investment arbitration,which will help China take the initiative in the future of international investment arbitration.After understanding the transparency of international investment arbitration and other developed countries' attitudes towards transparency and countermeasures,China should re-examine its position in it and discover its own strengths and weaknesses.Learn from the experiences of international arbitration institutions and developed countries and take appropriate countermeasures.Strengthening itsown construction in this area,especially with the advancement of the “Belt and Road” strategy,the Chinese government must earnestly protect the interests of overseas investors in China and promote the economic development of overseas investors and China.Specifically,this article is divided into five parts:The first part gives an overview of the transparency of international investment arbitration,briefly states the definition of transparency,the value conflicts involved in the secrecy of international investment arbitration,and the rationality of increasing transparency in international investment arbitration.The second part mainly discusses the development of the principle of transparency in international investment arbitration.This part mainly analyzes the development and changes of international investment arbitration transparency through the changes of international investment arbitration cases and the rules of the three major international arbitration institutions.The third part mainly discusses the manifestation of the transparency of international investment arbitration,which is elaborated from the following five aspects: disclosure of information during the commencement of arbitration proceedings,publication of documents,participation of third parties,disclosure of trial process and disclosure of arbitral awards.The fourth part mainly discusses the current international practice on the transparency of investment arbitration,including the content of the transparency of the BIT model in the United States in 2012,Mexico's review of the transparency attitude in the North American Free Trade Agreement,and “trans-Pacific trade and investment”.The content of the TPP's content on transparency examines the current international trends in transparency through these three aspects.The fifth part mainly discusses the transparency of investment arbitration and China.First,it elaborates on the international investment arbitration cases that China is currently involved in.Then it elaborates the newly introduced laws on the transparency of investment arbitration in China,and finally elaborates the measures for the transparency of the Chinese government and overseas investors.