Experts from the Latvian Ministry of Economics and the Secretariat presented the investment review of Latvia and policy recommendations prepared by the review team. The final report was peer reviewed by Kazakhstan and Denmark.
Ms. Jenya Grigorova, research fellow at the Secretariat, presented the project aimed at improving the Energy Charter country reviews and enhancing the technical assistance provided by the Energy Charter Secretariat.
The meeting also focused on improving investment promotion across the Energy Charter constituency and dispute settlement procedures. Particular attention was paid to the effective denial of benefits under ECT Art. 17 and to alternative dispute settlement options. An overview of the current trends and issues related to investment disputes was presented by the Secretariat and by Ms. Corinne Montineri from UNCITRAL and by Ms. Elisabeth Tuerk from UNCTAD.
Research fellows presented their work aimed at raising awareness within the constituency on the implementation of the Energy Charter Treaty. Mr. Erman Özgür presented his research paper on taxation of investments; Ms. Anna De Luca focused on non-pecuniary remedies available to investors under the Energy Charter Treaty; and Mr. Juan Neira spoke about promoting the rule of law for energy in Colombia. Mr. Uwakwe Ukuta Azikiwe, secondee from the Nigerian Electricity Regulatory Commission, illustrated the ongoing research on promoting foreign investments in the Nigerian energy sector through the Energy Charter Treaty and the International Energy Charter.
The Secretariat confirmed its intention to conclude by the end of 2015 a comprehensive review of the register of member countries' measures, which do not conform to the Energy Charter Treaty standard of investment treatment, known as the 'Blue Book'. The review of national measures discriminating against foreign investors at the pre-investment phase may lead to a renewed discussion on the Supplementary Treaty (this document was supposed to cover energy investment protection at the pre-investment phase and as such, complement the Energy Charter Treaty; negotiations on the Supplementary Treaty were put on hold in 2002).
Finally, in his closing remarks, the Secretary General Dr. Rusnák stressed that investment issues, including the settlement of investment disputes, would be at the core of Charter modernisation after the adoption of the International Energy Charter in May this year.