THE INVESTOR-STATE DISPUTE SYSTEM (ISDS) IN INVESTMENT TREATIES ARE MONEY-MAKING SYSTEMS FOR INVESTORS TO SYPHON MILLIONS OF DOLLARS FROM AFRICA
| SEATINI Uganda has joined CSO partners and Trade Unions to issue a statement to the World Bank, European Commission, African Union, and the East African Community Secretariat against a World Bank Court ruling asking the government of Tanzania to pay $185 million to the Hong Kong subsidiary of Standard Chartered for a so-called breach of contract. The case and subsequent ruling, in favour of Standard Chartered Hong Kong was based on the Bilateral Investment Treaty between the United Kingdom and the United Republic of Tanzania under the Investor State Dispute Settlement (ISDS) System.SEATINI Uganda opposes the current traditional BIT system which gives corporations excessive rights at the expense of human rights including workers’ rights, health rights, and the rights to a clean and healthy environment. SEATINI Uganda also opposes the current ISDS system and its proposed reform under the Multilateral Investment Courts (MIC) and warns African countries to be weary of this monster because it is biased and only favors corporations. We are concerned and therefore opposed to the current investment protection system which gives corporations the right to sue states the moment they feel that their rights to make profit are being threatened by state policy, even state policy only aimed at protecting the public interest. |
For more information please Contact:
Ms. Jane Nalunga
Country Director
SEATINI-Uganda
Email: jnalunga@seatiniuganda.org
SOUTHERN AND EASTERN AFRICA TRADE INFORMATION AND
NEGOTIATIONS INSTITUTE (SEATINI) UGANDA
Plot 806, Bukoto Kisaasi Road, Kampala, P.O Box, 3138, Kampala.
Tel: +256-414 540856
Email: seatini@infocom.co.ug
Website: www.seatiniuganda.org
Face book: SEATINI UGANDA
Twitter: @SEATINIUGANDA
