ISDS Case Map
Romania
Romania will not ratify the Comprehensive Economic and Trade Agreement (CETA) between the EU and Canada, as an angry reaction to the refusal by Ottawa to lift the visa requirement of its nationals.
The ratification the EU-Canada trade agreement hangs in doubt due to the refusal of Canada to introduce reciprocity with EU countries on visa policy, by lifting the visa requirement for Bulgarians and Romanians.
Brothers Viorel and Ioan Micula won the lawsuit against the Romanian state at the International Centre for Settlement of Investment Disputes (ICSID), and were awarded USD 200 million in damages.
Gabriel Resources has filed a request for arbitration before the World Bank's International Centre for Settlement of Investment Disputes against Romania over the Roşia Montană gold/silver project,
The proposed Trans-Atlantic Trade and Investment Partnership (TTIP) is meeting increased resistance in Eastern Europe.
This case illustrates the risk that a Member State can be successfully sued by a company within ISDS for merely bringing its legislation or policies in line with EU legislation.
Romania can’t ratify the EU-Canada free trade agreement easily as long as Romanian businessmen don’t have the same free visa access to the country as other European citizens do, Romania's Ambassador to Canada told Mediafax.
In a victory which may have major ramifications for international law, US law firm King & Spalding has won a $250 million arbitration case for Romanian company Micula against the Republic of Romania.
Suspension of the free trade agreement between Moldova and Romania on January 1, 2007, when Romania is expected to join the European Union (E.U.), will poise the trade balance between the two states, according to Mircea Toader, undersecretary of the Romanian Ministry of Economy and Commerce.
Following EU accession, Romania will gradually withdraw from all free trade agreements.
