•  
  •  
 

Authors

Abstract

One form of the impacts of economic globalization is the growing investment internationally. This is indicated by the increasing number of international agreements such as free trade agreements, multilateral investment agreements, bilateral investment agreements, and so on. Due to the developing of investments globally, a mechanism on international investment dispute resolution is certainly needed, but because of there is no international treaty on investment dispute settlement, then there is also no international investment court. So procedurally, the arbitration tribunals follow the established arbitration rules. Investor-State Dispute Settlement (ISDS) is a treaty-based dispute resolution mechanism that found in many international investment agreements. The provisions of ISDS are contained in many types of international agreements including Free Trade Agreements (FTA), Bilateral Investment Treaties (BITs), Multilateral Investment Agreements, investment contracts and national investment laws. ISDS is one of the dispute resolution mechanisms in Foreign Direct Investment (FDI). The ISDS was formed with the aim of protecting the interests of foreign investors who are investing in the host states, so that it will attract more investors to invest in other countries. In the ISDS mechanism, an investor can sue the host state to an arbitration if they feel disadvantaged by the host state. But it seems that the ISDS mechanism is still considered to have many shortcomings, so the European Union then proposed the establishment of a new dispute resolution system, the Investment Court System (ICS). This new system is considered to be able to provide solutions to overcome the shortcomings of the ISDS mechanism. This paper will discuss about the ICS, which is considered to be a new alternative to the ISDS.

Bahasa Abstract

Salah satu bentuk akibat terjadinya globalisasi ekonomi adalah semakin berkembangnya investasi secara internasional. Hal ini ditandai dengan semakin banyaknya perjanjian- perjanjian internasional seperti perjanjian perdagangan bebas, perjanjian investasi multilateral, perjanjian investasi bilateral, dan sebagainya. Semakin berkembangnya investasi secara global, maka mekanisme penyelesaian sengketa investasi internasional yang juga sangat dibutuhkan, tapi karena tidak ada perjanjian internasional yang mengatur secara spesifik mengenai penyelesaian sengketa investasi, dan juga tidak ada pengadilan investasi internasional, maka secara prosedural, badan pengadilan arbitrase mengikuti aturan arbitrase yang telah ditetapkan. Penyelesaian Sengketa Investor-Negara (ISDS) merupakan sebuah mekanisme penyelesaian sengketa yang berdasarkan pada perjanjian, yang ditemukan dalam perjanjian investasi internasional. Ketentuan ISDS ini terdapat dalam banyak perjanjian internasional, seperti perjanjian perdagangan bebas, perjanjian investasi bilateral, perjanjian investasi multilateral, kontrak investasi dan peraturan investasi nasional. ISDS merupakan salah satu mekanisme penyelesaian sengketa pada penanaman modal langsung (FDI). ISDS ini dibentuk dengan tujuan untuk melindungi kepentingan investor asing yang melakukan investasi di negara penerima sehingga akan menarik minat para investor untuk menanamkan modalnya di negara lain. Dalam mekanisme ISDS, investor dapat menggugat negara penerima investasi (host state) ke arbitrase apabila ia merasa dirugikan. Tapi tampaknya penyelesaian ISDS dianggap masih memiliki banyak kekurangan, sehingga Uni Eropa kemudian mencetuskan pembentukan sistem penyelesaian sengketa yang baru yaitu Sistem Pengadilan Investasi atau Investment Court System (ICS). Sistem baru ini dianggap dapat memberikan solusi dalam mengatasi kekurangan sistem penyelesaian sengketa investasi ISDS. Dalam penulisan ini akan membahas mengenai (ICS) yang dianggap dapat menjadi sebuah alternatif baru dalam penyelesaian sengketa investor-negara (ISDS).

Kata kunci: Sistem Pengadilan Investasi, Arbitrase, ISDS, Penyelesaian Sengketa, ICS

References

Artikel

Adnan, Andi M. F., 2017, Penyelesaian Sengketa Investor-State Dispute Settlement (ISDS) Melalui International Centre for Settlement of Investment Dispute (ICSID) Ditinjau dari Perspektif HAM Internasional, Makassar: Universitas Hassanudin

Benedetti, Juan P. C., 2019, “The Proposed Investment Court System: Does it Really Solve the Problems?”, Revista Derecho del Estado, No. 42

Cagnin, Valentina, 2017, “Investor-State Dispute Settlement (ISDS) from
a Labour Law Perspective”, European Labour Law Journal, Vol. 8, No. 3

Diependaele, Lisa, Ferdi De Ville dan Sigrid Sterckx, 2019“Assessing the Normative Legitimacy of Investment Arbitration: The EU’s Investment Court System”, New Political Economy, Vol. 24, No.1

Franck, Susan D., 2005, ‘The Legitimacy Crisis in Investment Arbitration: Privatizing Public International Law Through Inconsistent Decision’, Fordham Law Review, Vol. 73

Garcia, Carlos G., 2004, “All the Other Dirty Little Secrets: Investment Treaties, Latin America, and the Necessary Evil of Investor-State Arbitration”, Florida Journal of International Law, Vol.16, No.2

Jaswant, Shilpa Singh, 2019,“Establishment of Investment Court System Under CETA and EU-VIET NAM FTA and its Compatibility with EU Law”, Europa-Kolleg Hamburg: Study Paper No. 02/19

Schill, W., 2011, “Enhancing the Legitimacy of International Investment Law: Conceptual and Methodological Foundations of a New Public Law Approach”, Virginia Journal of International Law, Vol. 52, No.1

Shopia, Aya dan Sri Sulasmiyati, 2018, “Pengaruh Foreign Direct Investment, Ekspor, dan Utang Luar Negeri Terhadap Pertumbuhan Ekonomi ASEAN (Studi Pada Produk Domestik Bruto Indonesia, Malaysia, Dan Thailand Periode Tahun 2007 – 2016)”, Jurnal Administrasi Bisnis, Vol. 61, No. 3

Susic, Milan, 2018, “Importance and Impact of Foreign Investment on the Economic Development of Bosnia and Herzegovina”, Economics, Vol. 6, No. 1

Werner, Jacques, 2009, “Limits of Commercial Investor-State Arbitration: The Need for Appellate Review”, dalam Pierre-Marie Dupuy, Ernst-Ulrich Petersmann dan, Francesco Francioni (eds.), Human Rights in International Investment Law and Arbitration, Oxford

Winarno, Zulfikar Dimas, 2019, “Model Penyelesaian Sengketa yang Menyeimbangkan Kepentingan Investor dan Negara Penerima”, Jurisdiction, Vol. 2, No. 6

Zárate, José Manuel Alvarez, 2019 “Legitimacy Concerns of the Proposed Multilateral Investment Court: Is Democracy Possible?”, Boston College Law Review, Volume 59, No. 8

Buku

Atik, Sornarajah, Van Harten, Schneiderman, 2006, “Public Statement on the International Investment Regime”, Osgood Hall Law School

Drahos, Peter, 2017, Regulatory Theory: Foundations and Applications, ANU Press

Drake-Brockman, Jane dan Patrick Messerlin, 2018, Potential Benefits of an Australia-EU Free Trade Agreement, University of Adelaide Press

Klager, Roland, 2011, Fair and Equitable Treatment in International Investment Law, New York: Cambridge University Press

Madura, Jeff dan Roland Fox, 2011, International Financial Management, Boston: Cengange Learning

Salacuse, Jeswald W., 2013, The Three Laws of International Investment: National, Contractual, and International Framework of Foreign Capital, Oxford: Oxford University Press

Schwieder, Robert, 2016, “TTIP and the Investment Court System: A New (and Improved?) Paradigm for Investor-State Adjudication”, Columbia Journal of Transnational Law

Sukirno, Sadono, 2013, Makroekonomi Teori Pengantar: Edisi Ketiga, Jakarta: Rajawali Pers

Internet

European Comission, “Trade: European Court of Justice Confirms Compatibility of Investment Court System with EU Treaties”, https://ec.europa.eu/commission/presscorner/detail/en/IP_19_2334, diakses 13 Maret 2020

Hannes Lenk, “An Investment Court System for the New Generation of EU Trade and Inves- tment Agreements: A Discussion of the Free Trade Agreement with Vietnam and the Comprehensive Economic and Trade Agreement with Canada”, European Papers. 1, 2016, http://www.europeanpapers.eu/en/europeanforum/investment-court-system-new-generation-eu-trade-and-investment-agreements, diakses 21 Desember 2019

The University of Melbourne, “Investor-State Dispute Settlement and Arbitral Institutions”, https://unimelb.libguides.com/c.php?g=697682&p=4949075, diakses 21 Desember 2019

Yetti Komalasari Dewi, “Tinjauan Pembentukan Investment Court System, Alternatif Penyelesaian Sengketa Internasional”, 21 Januari 2019, https://www.kompasiana.com/yettikomalasari/5c458ac96ddcae6ffd0467a9/tinjauan-singkat-pembentukan-investment-court-system-sebagai-alternatif-penyelesaian-sengketa-internasional?page=all, diakses 21 Desember 2019

Download

Share

COinS