EU International Investment Treaties: Enhancing Trust in International Legal Space?

In order to restore public trust in investor-state arbitration, the European Commission has proposed to establish the Investment Court System, as a stepping stone towards creating a Multilateral Investment Court. The Investment Court System has been incorporated in a number of EU investment treaties, including ones concluded with Singapore, Canada and Vietnam. The mechanism has also been endorsed by the Court of Justice of the European Union. In Opinion 1/17, the Court considered that in the absence of the principle of mutual trust applying between the EU and third countries, investor-state dispute resolution mechanism is necessary to ensure the right to an effective remedy before an independent tribunal for EU investors abroad. This paper evaluates the potential of the Investment Court System to restore trust in public law and its institutions and provide an effective tool for upholding the rule of law.