Dr. Michael de Boeck:

The intersection is actually this. One of the main new aspects is that there is a joint committee placed in the framework within CETA itself, which means that if there is a certain tendency to interpret a certain provision in one way or another that the contracting parties do not agree with or find really uncomfortable, they can discuss that provision in a joint committee, which can issue a binding interpretation for future panels. There is some way to steer the development of the interpretation of the investment treaty through that joint committee.

As for the enforcement of the awards, once the arbitral tribunal has rendered an award then we actually need to look at the legal framework governing the award. That can differ along the institutional rules that were used to conduct the proceedings. One can either use the International Centre for Settlement of Investment Disputes, ICSID, investment arbitration tribunal and its rules, a non-central ad hocarrangement or any of the existing institutional arbitral institutions, of which there are quite a few. Those are the institutional rules. The International Court of Arbitration and the Stockholm Chamber of Commerce are very well-known examples. What does that mean? It means that in the end, we have an award that is recognised in an international court in accordance with the national arbitration law, unless it is an ICSID arbitration award. Then there is a slightly different procedure. Those awards that are not ICSID awards will usually fall under the New York Convention, which allows a member state or forum state to review the award for compatibility with public policy or public order. That is, however, only a very limited defence and one that is rarely successful.

On the other hand, if it concerns an ICSID award then there is no review at all for the national court that has to recognise and enforce, which is the terminology lawyers would use in that case. Article 54 of the ICSID Convention is very clear. There is no review. As to what happens when one takes the award, in the Belgian procedure, it goes to the foreign minister, who gives it to the clerk of the court of appeal, who rubber stamps it and that is it. That is an enforceable title.