The Union of South American Nations (UNASUR) exhibited a Dispute Settlement Center (CSC), which will host disputes with resolution mechanisms such as mediation and facilitation. The Ecuadorian Deputy Foreign Minister, Marco Albuja, announced this last Thursday.
Countries that develop this project seek to create an international arbitration center besides other instances, that the criterion of their rulers, are on par with the large transnational’s when issuing its resolutions.
Albuja explained that during an interview with Public Radio of Ecuador that the works for the creation of the center are by 80%. He added that countries like Brazil and Bolivia do not accept arbitration to settle disputes, so we are including a figure of mediation and facilitation.
Such procedures will not end up with a resolution, it also involve a process of dialogue between States or between States and investors, “so that they reach a solution that becomes mandatory when both parties agree,” unlike the award of forceful obligation, explained Albuja.
Currently “we are coming to agreement on how the mediation and facilitation will work, who are qualified investors” and other details, said the vice chancellor.