With free trade emerging as a global norm for growth, new U.N. rules on transparency in disputes between investors and host countries will play a key role in bolstering their relations while providing greater public access to arbitration procedures, said Joao Ribeiro, head of the UN Commission on International Trade Law’s (UNCITRAL) regional center for Asia and the Pacific, in an interview with The Korea Herald.
The upgraded arbitration rules of UNCITRAL took effect in April 2014 after years of preparations. They now guarantee public access to settlement proceedings, documents and hearings that were confidential in the past. “These rules on transparency introduce further transparency in good governance principle,” Ribeiro said.
Read the full interview in The Korea Herald.
