Symposium Posts

To mark the 2020 International Women’s Day, Afronomicslaw celebrates Dr Bolanle Adebola’s brilliant contributions to corporate insolvency law. Dr Adebola is a Lecturer in Law at the University of Reading and Convenor, Commercial Law Research Network Nigeria. Her thought-provoking research has generated robust discussions in Nigeria and the United Kingdom.

To mark this year’s International Women’s Day (IWD), we recognise and celebrate the invaluable contributions of women to international economic law scholarship. We are proud to point out that 50 per cent of our editors/contributing editors are women, and we are committed to promoting equality. Our IWD collection comprises four contributions.

I argue that it is time to explore the possibilities of a substantial reform, which should include: the renegotiation of the current 3,200 IIA; to stop signing treaties with arbitral clauses and extremely favourable conditions for investors; the promotion of an effective sovereignty States over the space that they should regulate; and the approval of binding obligations for companies. The failure to address substantive issues in ISDS, and to only focus on procedural aspects of reform, will lead to the consolidation and re-legitimatisation of this system, under the guise of “modernizing” it.

Coal extraction is a lucrative industry in Colombia for the transnational corporations operating in the country. One of the most aggressive projects against local communities today is the Cerrejon coal mine in la Guajira, which has been a site for large-scale coal extraction since 1970. In 1976 the Colombian government signed a contract with Intercor (a subsidiary of Exxon) to explore, exploit and commercialize the Northern Zone. Under this agreement, both the exploitation and commercialization of coal would have a duration of 23 years, from which both the mine and the railroad, the port, the buildings, other properties, contracts and fixed assets that are necessary for the development of the business would return to Carbocol, a state-owned enterprise.

As social movements and civil society continues to seek support within international law in their claims for justice, the reflection on the absence of international corporate accountability mechanisms is an open field for human rights discourse dispute.

Narratives are stories that get embedded in the general understanding of why and how a phenomenon takes place. Many narratives exist within International Investment Law (IIL) concerning its role in the international legal order, particularly in development. However, what if these narratives were to get turned on their head?

The present state of international economic law leaves much to be desired. Anchored by the multilateral General Agreement on Tariffs and Trade, which led to the creation of the World Trade Organization, and complemented by a vast network of bilateral and multilateral investment treaties and free trade agreements, international economic law is drawn from diffuse sources. Additionally, the WTO Dispute Settlement Body and Appellate Body, which interpret the GATT provisions, and arbitral tribunals, which interpret investment protection agreement provisions, shape the content of international economic law. However, the patchwork of treaty text and dispute settlement rulings into a body of law is unraveling.

The newly-formed International Economic Law Collective has already brought something new to how we understand economic thought in international law. Compared to other groups in international law, the Collective is distinct because it places the concept of equality as both an analytical focal point in the work its members produce and as a main feature of how the group organizes itself.

The past three decades have seen a growing scholarship on international law addressing legal and policy discussions on investment, trade, financial services and regulation, intellectual property right, tax, energy, competition law and even the environment. Despite this growth in the teaching and scholarly research of IEL, there remains question over the plurality and diversity of methodologies, voices and viewpoints in the discipline.

This post argues for greater collaboration between African countries and the Conference to ensure the continuing development of private international law on the continent, especially in fields of commercial significance. There are a number of important subject areas such as the enforcement of judgements, choice of law and jurisdiction agreements for which domestic reforms could be inspired by some of the Conference’s work.