Arab Investment Agreement

3 12 2020

6` Salini, supr, note 61, 64 6 (>-61. See also R.F.C.C. n. Morocco, see note 61, 68-69. It should also be noted that in Nykornh r. Latvia, above, Fn. 61, the arbitration tribunal indicated that an electricity purchase contract between the investor and a public company that awarded the investor a double tariff price could not be considered a purely commercial contract. The court ruled that the state is responsible for non-payment of this double tariff 1.4 See Horchani, p. 8, p. 396; Rycx, Third-party rights inter-Arab society mts, supra, note 16, p. 508-509.

As a result, the Tunisian government and COMG raised legal objections and challenged the Tunisian Prime Minister`s power of appeal, since it was the State Litigation Office that the government represented in a court dispute, in accordance with Article 3 of Tunisian Law 13/1988. COMMISSION has questioned the status of the investor as a person making a qualified investment within the meaning of the Arab investment agreement. In any event, even if there was a competent jurisdiction, Tanmiah would not have made payments under the underlying contract, so COMG was excused because of the application of the non-adimpleti contractus principle, which is a binding contract law throughout the Arab world. I International Law Association, draft statutes of the Court of Arbitration for Foreign Investments and foreign investments Court, UNCTAD, International Investment Instruments: A compendium, Vol. III, p. 259; `www. unctad.org/ sections/dit/iia/ docs/Compendium/ / en/72%20 volumes%203. Pd6. Article 17. This agreement was approved by Resolution 7/12-E of the Twelfth Conference of Islamic Foreign Ministers held in Baghdad, Iraq, from 1 to 5 June 1981 and was open for signature. It came into force on September 23, 1986. The agreement is available at: <www.unctad.org/ scctions/ ditc/iia/ docs/Compendium/ / en/38%20volumume%202.pd6.

See Hasan Moinuddin, The Charter of the Islamic Conference and the legal framework for economic cooperation between its Member States: a study of the Charter, the General Agreement on Economic, Technical and Trade Cooperation and the Agreement on the Promotion, Protection and Guarantee of Investments between Member States qf the Oic, Oxford, 1984, p. 138-183. Yoshi Kodama, dispute settlement as part of the draft multilateral investment agreement. The Quest for KE `<`h`h Investment Dispute Settlement Mechanism and its Failure, Journal of International Arbitration, 1999, 58-59. 4 DAFFE/MAI/EGI/RD documents (96)1, 26 January 1996; and DAFFE/MAi/EG1/RD (96)5, 5 March 1996. As of April 24, 2016, the amended agreement between the states that have ratified the agreement will enter into force. The Arab Investment Agreement will continue to govern guarantees and investment protection in most Arab countries until the Arab League is informed of the new ratifications.


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