ISDS Case Map
Egypt
MERCOSUR agreement supports state’s current trend of increasing exports, opening of new markets, says Minister of Trade and Industry Nevine Gamea.
On 3 June 2020, the Cairo Court of Appeal set aside a US$ 1 billion investment treaty award arising out of a dispute between a Kuwaiti construction company and the State of Libya, in relation to a license for a tourist development project in Tripoli, Libya.
Egypt will soon sign a free trade agreement with the UK following the latter's exit from the EU, commonly known as Brexit, according to Minister of Trade and Industry Nevine Gamea.
A number of chapters have already been drafted; some others are nearing completion; the remaining chapters are still under expert evaluation.
The Eurasian Economic Commission continues to negotiate partnerships with Egypt, Israel and India, said EAEU trade official.
In the meantime, Naturgy said it would go back to pursuing a legal claim to $2 billion in compensation its joint venture with ENI was awarded in the case by the World Bank's ICSID in 2018.
Naturgy has agreed with Eni and Egypt to end their dispute over Unión Fenosa (UFG), in which the Spanish and Italian firms own 50% each.
Tension between Egypt and Turkey surfaced again as the industry committee at the Egyptian parliament called for annulling the free trade agreement between the two countries, saying it “harms local products”.
