ISDS Case Map
Peru
The Teamsters labor union has escalated an investor dispute against Peru, arguing that its members' pensions could be thrown into jeopardy as a result of the government's alleged failure to pay investors $5 billion worth of debt tied up in land bonds.
Renco alleged that Peru breached its TPA obligations to afford fair and equitable treatment and national treatment, as well as certain contractual obligations.
Peru will try to expand its free trade agreements with countries of the Association of Southeast Asian Nations (ASEAN), but "preferably" through the Pacific Alliance
Peruvian and Indian governments held the first technical meetings aimed to reach a trade agreement.
A proposed comprehensive free trade agreement between India and Peru covering goods, services and investments may not only raise India’s export volumes to the western South American nation
Peru will work with China and other Asian and Pacific Rim countries to incorporate elements of the Trans-Pacific Partnership into a new agreement.
In Renco v Peru, an UNCITRAL tribunal decided to depart from the presumption that the unsuccessful party bears the costs of the arbitration
Approval for the talks was given by the Union Cabinet chaired by Prime Minister Narendra Modi.
"Peru and India should have a first technical meeting in the first three months of 2017 to establish the roadmap of this process so that they can properly start negotiations," the Deputy Minister of Foreign Trade said
The Australian government said it considers the possibility of negotiating an FTA with Peru, as the Asia-Pacific faces the potential collapse of the Trans-Pacific Partnership (TPP).
