CIADI - Annual report 2004

INTERNATIONAL CENTRE FOR SETTLEMENT OF INVESTMENT DISPUTES ICSID 2004ICSID 2004

ANNUAL

REPORT INTERNATIONAL CENTRE FOR SETTLEMENT OF INVESTMENT DISPUTESCONTENTS Letter of Transmittal 1

ICSID Secretariat 2 Introduction 3 Membership 4 Disputes Before the Centre 4 Panels of Conciliators and of Arbitrators 5 Publications 5 Conferences 6 Thirty-seventh Annual Meeting of the Administrative Council 7 Finance 7

ANNEXES

1. List of Contracting States and Other Signatories of the Convention 8

2. Disputes Before the Centre 12

3. Panels of Conciliators and of Arbitrators 27

4. ICSID Documents and Publications 29

5. Resolutions Adopted by the Administrative Council 31

6. Report and Financial Statements 32INTERNATIONAL CENTRE FOR SETTLEMENT OF

INVESTMENT DISPUTES September 10, 2004

Dear Mr. Chairman, Pursuant to Administrative and Financial Regulation 5(4), I am pleased to submit to the Administrative Council for its approval the Annual Report on the Operation of the International Centre for Settlement of Investment Disputes required by Article 6(1)(g) of the Convention on the Settlement of Investment Disputes between States and Nationals of Other States. This Annual Report covers the fiscal year July 1, 2003 to June 30, 2004. The Report includes the audited financial statements of the Centre, presented pursuant to Administrative and Financial Regulation 19. Sincerely yours, Roberto Dañino Secretary-General Mr. James D. Wolfensohn Chairman Administrative Council International Centre for Settlement of Investment Disputes E

T TLEM EN T O F IN V E S T M E N T DISPU

T

E • INTERN AT IO N A L C E N TRE FOR • I C S I DSECRETARIAT OF THE INTERNATIONAL CENTRE FOR SETTLEMENT

OF INVESTMENT DISPUTES

2004 Roberto Dañino, Secretary-General Antonio R. Parra, Deputy Secretary-General

T

E • INTERN AT IO N A L C E N TRE FOR • I C S I DSECRETARIAT OF THE INTERNATIONAL CENTRE FOR SETTLEMENT

OF INVESTMENT DISPUTES

2004 Roberto Dañino, Secretary-General Antonio R. Parra, Deputy Secretary-General

LEGAL STAFF

Gabriela Alvarez-Avila, Senior Counsel Gonzalo Flores, Senior Counsel Milanka Kostadinova, Senior Counsel Ucheora Onwuamaegbu, Senior Counsel Margrete Stevens, Senior Counsel Aurélia Antonietti, Counsel Claudia Frutos-Peterson, Counsel Mariano Garcia-Rubio, Counsel Martina Polasek, Counsel José Antonio Rivas Campo, Counsel Francisco Ceballos, Consultant Frauke Nitschke, Consultant

ADMINISTRATIVE AND CLIENT SUPPORT STAFF

Alix Ahimon, Language Program Assistant Sylvie Grégoire, Legal Assistant Sonia C. Lee, Program Assistant Ginette Moïse-Luabeya, Administrative Assistant Gloria Peralta, Language Program Assistant Malkiat Singh, Program Assistant 2INTRODUCTION BY THE SECRETARY-GENERAL ICSID had another very active year in 2004. A record thirty new cases were registered. Eighty-five arbitration and conciliation proceedings were before ICSID in the course of the year, thirteen of which were concluded. Most of the new cases were initiated, as before, on the basis of ICSID arbitration provisions of bilateral and multilateral investment treaties. Membership in the Centre rose to 140 States following the ratification of the ICSID Convention by Malta. During this year, ICSID has embarked on several new initiatives. The Centre has started to promote a greater use of conciliation under the ICSID Convention and the ICSID Additional Facility. ICSID has offered conciliation procedures since its inception, but only about 2% of the cases registered by the Centre have been conciliation cases. This is so despite the fact that conciliation may be a quicker and less expensive means of solving disputes than arbitration. As part of the new initiative, in all new arbitration cases, ICSID

only about 2% of the cases registered by the Centre have been conciliation cases. This is so despite the fact that conciliation may be a quicker and less expensive means of solving disputes than arbitration. As part of the new initiative, in all new arbitration cases, ICSID is bringing the conciliation alternative to the attention of the parties. At the same time, a more general stocktaking is taking place in ICSID. A client survey is being done of users of ICSID to identify areas of possible improvement. Other new initiatives concern expanding and diversifying the pool of arbitrators and improving ICSID’s financial self-sufficiency. In addition, a communications assessment project has been finalized to help fine-tune the effectiveness of ICSID’s outreach efforts. The Centre is also preparing to host the 7th IFCAI Biennial Conference on international commercial arbitration in early June 2005. ICSID’s achievements in the past fiscal year attest to an increased confidence placed in the Centre. Building on such trust, ICSID is now working on possible amendments to its rules aimed at increasing transparency and public access to the proceedings. ICSID is also examining the possibility of assisting in the establishment and administration of an international mechanism for the appeal of awards in investor-State arbitrations. Apart from administering its considerably increased caseload and developing the above initiatives, ICSID continued its publication and other knowledge dissemination activities. The Centre published two issues of the ICSID Review—Foreign Investment Law Journal. Five new releases of ICSID’s collections of investment laws and treaties were issued and a new volume of the treaties collection was commenced. The website also continued to grow in reach and content. In addition, ICSID staff contributed numerous presentations to arbitration conferences, seminars and other educational events. ICSID’s expanding ties with the wider world of international arbitration were reflected in several collaborative efforts with other international arbitral institutions on promoting knowledge on international investment dispute settlement. ICSID takes pride by the election of Antonio Parra as Secretary General of the International Council of Commercial Arbitration (ICCA) and as a Council Member of the International Federation of Commercial Arbitration

collaborative efforts with other international arbitral institutions on promoting knowledge on international investment dispute settlement. ICSID takes pride by the election of Antonio Parra as Secretary General of the International Council of Commercial Arbitration (ICCA) and as a Council Member of the International Federation of Commercial Arbitration Institutions (IFCAI). In addition, an agreement on general arrangements for cooperation in hosting of arbitration proceedings was concluded with the Lagos Regional Centre for International Commercial Arbitration. Making the ICSID system of dispute settlement as effective as possible in these and many other ways is a goal that we will pursue in the coming year and beyond. Roberto Dañino Secretary-General 3MEMBERSHIP During the past year, ICSID’s membership was enlarged by the accession of a new member. Malta became the 140th ICSID Contracting State following completion of the formal requirements for membership in December 2003. A complete list of the Contracting States and other signatories of the ICSID Convention appears in Annex 1. DISPUTES BEFORE THE CENTRE The caseload expanded by 30 new cases registered in the course of the fiscal year. This represents a 15% increase over the cases registered in the previous year. Of the new cases, 29 were arbitration proceedings and one a conciliation proceeding. By the end of fiscal year 2004, the total number of cases registered with the Centre since its inception reached 159. The influx of new proceedings resulted in a record number of 85 cases either simultaneously pending before ICSID or concluded during the fiscal year. The largest number of the new cases were submitted, as in previous years, under the ICSID arbitration provisions of bilateral investment treaties. In two of the new cases, investors have sought to establish ICSID jurisdiction on the basis of the Energy Charter Treaty. In another new case, jurisdiction was asserted under corresponding provisions of the North American Free Trade Agreement (NAFTA). Six of the new

cases were initiated on the basis of either investment laws of the host states or traditional investment contracts. Thirteen arbitration proceedings were concluded in the period. Four of them were discontinued at the request of one or both of the parties concerned following an amicable settlement of the disputes. Awards were rendered in nine cases. In three of the concluded proceedings, the tribunals upheld jurisdiction but dismissed the claims on the merits. Six of the awards upheld the claims in whole or in part. Post-award proceedings were initiated in three cases. ICSID registered two applications for annulment of awards and an application for a supplementary decision in a NAFTA case conducted under the Additional Facility Rules. The Centre also registered a request for resubmission of the dispute to a new tribunal following the conclusion of an annulment proceeding in another case. The majority of the cases pending before the Centre during the past fiscal year involved Western Hemisphere countries. The remaining cases were almost evenly divided among countries in Eastern Europe and Central Asia, the Middle East and North Africa, and Sub-Saharan Africa. One third of the current cases involve projects in the energy sector. The remaining cases involve disputes regarding investments in virtually all other economic sectors. In total, 25 ICSID arbitral tribunals and two ad hoc committees were constituted in the course of the year. Fifty-five persons from 21 different countries were appointed to serve on these panels as ICSID arbitrators or ad hoc committee members. Proceedings before the ICSID panels during the year were conducted in English in 32 of the cases and in French or in Spanish in other 12 cases. Two of these three official languages of ICSID were used in different combinations as procedural languages in the rest of the proceedings. ICSID4In addition to administering the cases under the ICSID Convention and the Additional Facility Rules, ICSID provided administrative services in three cases conducted under the

Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL). In one of these cases, ICSID made logistical arrangements for a video and audio transmission synchronized in real time of the entire nine-day hearing, following a decision of the parties and the tribunal concerned to open the hearing for attendance by interested members of the public. Details on procedural developments in each of the cases pending before ICSID in fiscal year (FY) 2004 are provided in Annex 2. PANELS OF CONCILIATORS AND OF ARBITRATORS Under the ICSID Convention, ICSID maintains a Panel of Conciliators and a Panel of Arbitrators. Each Contracting State may designate up to four persons to each Panel. The Chairman of the Administrative Council may designate up to 10 persons to each Panel. The significant increase in the ICSID caseload makes it particularly important that the Panels designations are complete and up-to-date. This facilitates the selection of conciliators and arbitrators for the ICSID proceedings by the parties concerned or, where necessary under the relevant rules, by the Chairman of the Administrative Council. During the past year, the Secretariat reminded a number of Contracting States of the need to make or renew designations to the ICSID Panels. In the course of the year, the Secretariat received designations made by the following Contracting States: Australia, Bahrain, Belgium, Botswana, China, Honduras, Hungary, Iceland, Jamaica, Nicaragua, Pakistan, Spain, United Kingdom, Uzbekistan and Venezuela. With these new designations, there are now 485 members of the Panels. The complete list of all Panel members is available on the website of the Centre. Annex 3 to this report lists the names of the designees appointed in FY 2004. PUBLICATIONS The eighth volume of the Centre’s collection of Investment Treaties was launched in the past

year. This collection is a loose-leaf service, which is continuously updated by the Centre. Three releases were issued in the course of the year. These added texts of some 60 recent bilateral investment treaties, bringing the total number of treaties published in the collection to 960. ICSID continued to update its collection of Investment Laws of the World. The two releases issued for this collection included new investment legislation of 12 countries: Angola, Azerbaijan, Belarus, Benin, Belize, Ethiopia, Kazakhstan, Lebanon, Mongolia, Mozambique, Paraguay, and Serbia and Montenegro. In total, the collection now contains basic foreign investment laws of 150 countries. ANNUAL REPORT 2004 5With a redesigned cover, two issues of the ICSID Review—Foreign Investment Law Journal also reached subscribers. The Spring 2003 issue of the journal included articles on expropriation claims under U.S. investment treaties; on effectiveness of NAFTA’s Investment Chapter arbitration proceedings; and on allocation of costs and counsel fees in investment arbitration. The Fall 2003 issue featured articles on the role of international law in the choice of law process under the ICSID Convention; and on issues of ICSID jurisdiction in the context of international petroleum agreements. ICSID’s semi-annual newsletter, News from ICSID, was substantially redesigned during the fiscal year and two new issues were published. The Spring 2003 issue featured an article on the meaning of “expropriation” under NAFTA and the substantive protections afforded to investors. The Winter 2003 issue contained an article on institution of ICSID arbitration proceedings, which emphasized the evolving practice on screening and registration of requests brought under investment treaties. Additional materials in the issue included information regarding the election of Roberto Dañino as ICSID’s Secretary-General, the new initiatives undertaken by the Centre, and the new agreement on general arrangements concluded by ICSID with the Lagos Regional Centre for International Commercial Arbitration. The Secretariat also published, for the International Federation of Commercial Arbitration Institutions (IFCAI), an issue of the IFCAI Newsletter. The publication of this newsletter is an activity undertaken by ICSID as a member of IFCAI.

ICSID with the Lagos Regional Centre for International Commercial Arbitration. The Secretariat also published, for the International Federation of Commercial Arbitration Institutions (IFCAI), an issue of the IFCAI Newsletter. The publication of this newsletter is an activity undertaken by ICSID as a member of IFCAI. ICSID continued to maintain its website <www.worldbank.org/icsid> with most current information on its activities and caseload. During the past year, the website was enlarged with an additional downloadable version of the ICSID rules to enhance their accessibility. Decisions and awards of some 26 most recent cases are currently posted on the website, 8 of which were added in the course of FY 2004. CONFERENCES During the past year, ICSID hosted the 20th in the series of annual international arbitration colloquia, co-sponsored with the American Arbitration Association and the International Court of Arbitration of the International Chamber of Commerce since 1983. The colloquium was held on November 14, 2003, in Washington, D.C. It addressed issues related to institution of arbitration proceedings; publication of proceedings and awards; procedures specific to arbitrations involving State parties; and applicable law. In addition, ICSID joined the London Court of International Arbitration in organizing a symposium on international arbitration, held in Washington, D.C., on November 15, 2003. ICSID staff took part in several further conferences and training seminars organized by international organizations, governments, arbitration institutions and professional organizations. These included training courses held in different regions of the world as part of a program of the U.N. Conference on Trade and Development for government officials involved in investment treaties negotiations: in Port of Spain (held on September 22, 2003); in Lima (held on October 13, 2003); in Pretoria (held on March 22, 2004);

and in Cairo (held on May 16, 2004). On invitation by sponsoring government agencies, ICSID staff presented lectures on the ICSID system at training seminars in Bogotá (held ICSID6on February 5–6, 2004) and in Santiago (held on May 25–26, 2004). ICSID staff also participated in a conference on international economic disputes convened by the Cambridge University (held on April 1–3, 2004); a conference on petroleum dispute resolution organized by the World Petroleum Congress in London (held on April 22, 2004); a conference sponsored by the British Institute of International and Comparative Law’s Investment Treaty Forum (held on May 7, 2004); the Seventeenth Biennial Conference of the International Council of Commercial Arbitration (ICCA) hosted by the China International Trade and Arbitration Commission, as well as a Council meeting and a general assembly of the International Federation of Commercial Arbitration Institutions (IFCAI), in Beijing (held on May 15–18, 2004). The staff also contributed lectures on ICSID at several academic institutions, including the University of Stellenbosch, American University, New York University, University of Lecce, and the Instituto Tecnológico de Estudios Superiores de Monterrey. Making use of the new technologies, part of these lectures were delivered to the students via video link, allowing for the participation of multiple audiences in the discussions. THIRTY-SEVENTH ANNUAL MEETING OF THE ADMINISTRATIVE COUNCIL The Thirty-seventh Annual Meeting of the Administrative Council took place on September 24, 2003, in Dubai, United Arab Emirates, on the occasion of the Annual Meetings of the Boards of Governors of the World Bank Group and the International Monetary Fund. At the Meeting, the Council approved the Centre’s 2003 Annual Report and its administrative budget for fiscal year 2004. On the basis of a proposal by the Chairman, the Council elected unanimously Roberto Dañino as Secretary-General for a term of six years. The Resolutions adopted at the Meeting are set forth in Annex 5.

FINANCE

tive budget for fiscal year 2004. On the basis of a proposal by the Chairman, the Council elected unanimously Roberto Dañino as Secretary-General for a term of six years. The Resolutions adopted at the Meeting are set forth in Annex 5. FINANCE The administrative expenditures of ICSID were, again, entirely covered by the World Bank pursuant to the Memorandum of Administrative Arrangements concluded between the World Bank and ICSID in February 1967, and by income from the sale of publications. It was therefore not necessary to assess any excess expenditures on Contracting States pursuant to Article 17 of the Convention. ICSID’s expenditures relating to pending arbitration and conciliation proceedings are borne by the parties in accordance with the Centre’s Administrative and Financial Regulations. The Financial Statements of ICSID for FY 2004 are provided in Annex 6.

ANNUAL REPORT 2004 7ANNEX 1

CONTRACTING STATES AND OTHER SIGNATORIES

OF THE CONVENTION

AS OF JUNE 30, 2004

The 154 States listed below have signed the Convention on the Settlement of Investment Disputes Between States and Nationals of Other States on the dates indicated. The names of the 140 States that have deposited their instruments of ratification are in bold, and the dates of such deposit and of the attainment of the status of Contracting State by the entry into force of the Convention for each of them are also indicated.

ICSID8

Afghanistan Sep. 30, 1966 June 25, 1968 July 25, 1968 Albania Oct. 15, 1991 Oct. 15, 1991 Nov. 14, 1991 Algeria Apr. 17, 1995 Feb. 21, 1996 Mar. 22, 1996 Argentina May 21, 1991 Oct. 19, 1994 Nov. 18, 1994

Armenia Sep. 16, 1992 Sep. 16, 1992 Oct. 16, 1992 Australia Mar. 24, 1975 May 2, 1991 June 1,1991 Austria May 17, 1966 May 25, 1971 June 24, 1971 Azerbaïjan Sep. 18, 1992 Sep. 18, 1992 Oct. 18, 1992 Bahamas Oct. 19, 1995 Oct. 19, 1995 Nov. 18, 1995 Bahrain Sep. 22, 1995 Feb. 14, 1996 Mar. 15, 1996 Bangladesh Nov. 20, 1979 Mar. 27, 1980 Apr. 26, 1980 Barbados May 13, 1981 Nov. 1, 1983 Dec. 1, 1983 Belarus July 10, 1992 July 10, 1992 Aug. 9, 1992 Belgium Dec. 15, 1965 Aug. 27, 1970 Sep. 26, 1970 Belize Dec. 19, 1986 Benin Sep. 10, 1965 Sep. 6, 1966 Oct. 14, 1966 Bolivia May 3, 1991 June 23, 1995 July 23, 1995 Bosnia and Herzegovina Apr. 25, 1997 May 14, 1997 June 13, 1997 Botswana Jan. 15, 1970 Jan. 15, 1970 Feb. 14, 1970 Brunei Darussalam Sep. 16, 2002 Sep. 16, 2002 Oct. 16, 2002 Bulgaria Mar. 21, 2000 Apr. 13, 2001 May 13, 2001

Burkina Faso Sep. 16, 1965 Aug. 29, 1966 Oct. 14, 1966 Burundi Feb. 17, 1967 Nov. 5, 1969 Dec. 5, 1969 Cambodia Nov. 5, 1993 Cameroon Sep. 23, 1965 Jan. 3, 1967 Feb. 2, 1967 Central African Republic Aug. 26, 1965 Feb. 23, 1966 Oct. 14, 1966 Chad May 12, 1966 Aug. 29, 1966 Oct. 14, 1966 Chile Jan. 25, 1991 Sep. 24, 1991 Oct. 24, 1991 China Feb. 9, 1990 Jan. 7, 1993 Feb. 6, 1993 Colombia May 18, 1993 July 15, 1997 Aug. 14, 1997 Comoros Sep. 26, 1978 Nov. 7, 1978 Dec. 7, 1978 Congo Dec. 27, 1965 June 23, 1966 Oct. 14, 1966

DEPOSIT OF ENTRY INTO FORCE

STATE SIGNATURE RATIFICATION OF CONVENTIONANNUAL REPORT 2004 9

Congo, Democratic Rep. of Oct. 29, 1968 Apr. 29, 1970 May 29, 1970 Costa Rica Sep. 29, 1981 Apr. 27, 1993 May 27, 1993 Côte d’Ivoire June 30, 1965 Feb. 16, 1966 Oct. 14, 1966 Croatia June 16, 1997 Sep. 22, 1998 Oct. 22, 1998

Cyprus Mar. 9, 1966 Nov. 25, 1966 Dec. 25, 1966 Czech Republic Mar. 23, 1993 Mar. 23, 1993 Apr. 22, 1993 Denmark Oct. 11, 1965 Apr. 24, 1968 May 24, 1968 Dominican Republic Mar. 20, 2000 Ecuador Jan. 15, 1986 Jan. 15, 1986 Feb. 14, 1986 Egypt, Arab Rep. of Feb. 11, 1972 May 3, 1972 June 2, 1972 El Salvador June 9, 1982 Mar. 6, 1984 Apr. 5, 1984 Estonia June 23, 1992 June 23, 1992 Jul. 23, 1992 Ethiopia Sep. 21, 1965 Fiji July 1, 1977 Aug. 11, 1977 Sep. 10, 1977 Finland July 14, 1967 Jan. 9, 1969 Feb. 8, 1969 France Dec. 22, 1965 Aug. 21, 1967 Sep. 20, 1967 Gabon Sep. 21, 1965 Apr. 4, 1966 Oct. 14, 1966 Gambia, The Oct. 1, 1974 Dec. 27, 1974 Jan. 26, 1975 Georgia Aug. 7, 1992 Aug. 7, 1992 Sep. 6, 1992 Germany Jan. 27, 1966 Apr. 18, 1969 May 18, 1969 Ghana Nov. 26, 1965 July 13, 1966 Oct. 14, 1966

Greece Mar. 16, 1966 Apr. 21, 1969 May 21, 1969 Grenada May 24, 1991 May 24, 1991 June 23, 1991 Guatemala Nov. 9, 1995 Jan. 21, 2003 Feb. 20, 2003 Guinea Aug. 27,1968 Nov. 4, 1968 Dec. 4, 1968 Guinea-Bissau Sep. 4, 1991 Guyana July 3, 1969 July 11, 1969 Aug. 10, 1969 Haiti Jan. 30, 1985 Honduras May 28, 1986 Feb. 14, 1989 Mar. 16, 1989 Hungary Oct. 1, 1986 Feb. 4, 1987 Mar. 6, 1987 Iceland July 25, 1966 July 25, 1966 Oct. 14, 1966 Indonesia Feb. 16, 1968 Sep. 28, 1968 Oct. 28, 1968 Ireland Aug. 30, 1966 Apr. 7, 1981 May 7, 1981 Israel June 16, 1980 June 22, 1983 July 22, 1983 Italy Nov. 18, 1965 Mar. 29, 1971 Apr. 28, 1971 Jamaica June 23, 1965 Sep. 9, 1966 Oct. 14, 1966 Japan Sep. 23, 1965 Aug. 17, 1967 Sep. 16, 1967 Jordan July 14, 1972 Oct. 30, 1972 Nov. 29, 1972 Kazakhstan July 23, 1992 Sep. 21, 2000 Oct. 21, 2000

Kenya May 24, 1966 Jan. 3, 1967 Feb. 2, 1967 Korea, Rep. of Apr. 18, 1966 Feb. 21, 1967 Mar. 23, 1967 Kuwait Feb. 9, 1978 Feb. 2, 1979 Mar. 4, 1979 Kyrgyz, Rep. of June 9, 1995

DEPOSIT OF ENTRY INTO FORCE

STATE SIGNATURE RATIFICATION OF CONVENTIONICSID10

Latvia Aug. 8, 1997 Aug. 8, 1997 Sep. 7, 1997 Lebanon Mar. 26, 2003 Mar. 26, 2003 Apr. 25, 2003 Lesotho Sep. 19, 1968 July 8, 1969 Aug. 7, 1969 Liberia Sep. 3, 1965 June 16, 1970 July 16, 1970 Lithuania July 6, 1992 July 6, 1992 Aug. 5, 1992 Luxembourg Sep. 28, 1965 July 30, 1970 Aug. 29, 1970 Macedonia, former Yugoslav Rep. of Sep. 16, 1998 Oct. 27, 1998 Nov. 26, 1998 Madagascar June 1, 1966 Sep. 6, 1966 Oct. 14, 1966 Malawi June 9, 1966 Aug. 23, 1966 Oct. 14, 1966 Malaysia Oct. 22, 1965 Aug. 8, 1966 Oct. 14, 1966 Mali Apr. 9, 1976 Jan. 3, 1978 Feb. 2, 1978

Malta Apr. 24, 2002 Nov. 3, 2003 Dec. 3, 2003 Mauritania July 30, 1965 Jan. 11, 1966 Oct. 14, 1966 Mauritius June 2, 1969 June 2, 1969 July 2, 1969 Micronesia June 24, 1993 June 24, 1993 July 24, 1993 Moldova Aug. 12, 1992 Mongolia June 14, 1991 June 14, 1991 July 14, 1991 Morocco Oct. 11, 1965 May 11, 1967 June 10, 1967 Mozambique Apr. 4, 1995 June 7, 1995 July 7, 1995 Namibia Oct. 26, 1998 Nepal Sep. 28, 1965 Jan. 7, 1969 Feb. 6, 1969 Netherlands May 25, 1966 Sep. 14, 1966 Oct. 14, 1966 New Zealand Sep. 2, 1970 Apr. 2, 1980 May 2, 1980 Nicaragua Feb. 4, 1994 Mar. 20, 1995 Apr. 19, 1995 Niger Aug. 23, 1965 Nov. 14, 1966 Dec. 14, 1966 Nigeria July 13, 1965 Aug. 23, 1965 Oct. 14, 1966 Norway June 24, 1966 Aug. 16, 1967 Sep. 15, 1967 Oman May 5, 1995 July 24, 1995 Aug. 23, 1995 Pakistan July 6, 1965 Sep. 15, 1966 Oct. 15, 1966

Panama Nov. 22, 1995 Apr. 8, 1996 May 8, 1996 Papua New Guinea Oct. 20, 1978 Oct. 20, 1978 Nov. 19, 1978 Paraguay July 27, 1981 Jan. 7, 1983 Feb. 6, 1983 Peru Sep. 4, 1991 Aug. 9, 1993 Sep. 8, 1993 Philippines Sep. 26, 1978 Nov. 17, 1978 Dec. 17, 1978 Portugal Aug. 4, 1983 July 2, 1984 Aug. 1, 1984 Romania Sep. 6, 1974 Sep. 12, 1975 Oct. 12, 1975 Russian Federation June 16, 1992 Rwanda Apr. 21, 1978 Oct. 15, 1979 Nov. 14, 1979 Samoa Feb. 3, 1978 Apr. 25, 1978 May 25, 1978 Sao Tome and Principe Oct. 1, 1999 Saudi Arabia Sep. 28, 1979 May 8, 1980 June 7, 1980

DEPOSIT OF ENTRY INTO FORCE

STATE SIGNATURE RATIFICATION OF CONVENTIONANNUAL REPORT 2004 1 1

Senegal Sep. 26, 1966 Apr. 21, 1967 May 21, 1967 Serbia and Montenegro July 31, 2002 Seychelles Feb. 16, 1978 Mar. 20, 1978 Apr. 19, 1978 Sierra Leone Sep. 27, 1965 Aug. 2, 1966 Oct. 14, 1966 Singapore Feb. 2, 1968 Oct. 14, 1968 Nov. 13, 1968

Slovak Republic Sep. 27, 1993 May 27, 1994 June 26, 1994 Slovenia Mar. 7, 1994 Mar. 7, 1994 Apr. 6, 1994 Solomon Islands Nov. 12, 1979 Sep. 8, 1981 Oct. 8, 1981 Somalia Sep. 27, 1965 Feb. 29, 1968 Mar. 30, 1968 Spain Mar. 21, 1994 Aug. 18, 1994 Sept. 17, 1994 Sri Lanka Aug. 30, 1967 Oct. 12, 1967 Nov. 11, 1967 St. Kitts and Nevis Oct. 14, 1994 Aug. 4, 1995 Sep. 3, 1995 St. Lucia June 4, 1984 June 4, 1984 July 4, 1984 St. Vincent and the Grenadines Aug. 7, 2001 Dec. 16, 2002 Jan. 15, 2003 Sudan Mar. 15, 1967 Apr. 9, 1973 May 9, 1973 Swaziland Nov. 3, 1970 June 14, 1971 July 14, 1971 Sweden Sep. 25, 1965 Dec. 29, 1966 Jan. 28, 1967 Switzerland Sep. 22, 1967 May 15, 1968 June 14, 1968 Tanzania Jan. 10, 1992 May 18, 1992 June 17, 1992 Thailand Dec. 6, 1985 Timor-Leste July 23, 2002 July 23, 2002 Aug. 22, 2002

Togo Jan. 24, 1966 Aug. 11, 1967 Sep. 10, 1967 Tonga May 1, 1989 Mar. 21, 1990 Apr. 20, 1990 Trinidad and Tobago Oct. 5, 1966 Jan. 3, 1967 Feb. 2, 1967 Tunisia May 5, 1965 June 22, 1966 Oct. 14, 1966 Turkey June 24, 1987 Mar. 3, 1989 Apr. 2, 1989 Turkmenistan Sep. 26, 1992 Sep. 26, 1992 Oct. 26, 1992 Uganda June 7, 1966 June 7, 1966 Oct. 14, 1966 Ukraine Apr. 3, 1998 June 7, 2000 July 7, 2000 United Arab Emirates Dec. 23, 1981 Dec. 23, 1981 Jan. 22, 1982 United Kingdom of Great Britain and Northern IrelandMay 26, 1965 Dec. 19, 1966 Jan. 18, 1967 United States of America Aug. 27, 1965 June 10, 1966 Oct. 14, 1966 Uruguay May 28, 1992 Aug. 9, 2000 Sep. 8, 2000 Uzbekistan Mar. 17, 1994 July 26, 1995 Aug. 25, 1995 Venezuela Aug. 18, 1993 May 2, 1995 June 1, 1995 Yemen, Republic of Oct. 28, 1997 Zambia June 17, 1970 June 17, 1970 July 17, 1970

Zimbabwe Mar. 25, 1991 May 20, 1994 June 19, 1994 DEPOSIT OF ENTRY INTO FORCE STATE SIGNATURE RATIFICATION OF CONVENTION(1) Compañía de Aguas del Aconquija S.A. and Vivendi Universal v. Argentine Republic (Case No. ARB/97/3) – Resubmission October 24, 2003 The Acting Secretary-General registers a request for resubmission of the dispute to a new tribunal. April 14, 2004 The Tribunal is constituted. Its members are: J. William Rowley (Canadian), President; Gabrielle Kaufmann-Kohler (Swiss); and Carlos Bernal Verea (Mexican). (2) Ceskoslovenska obchodni banka, a.s.

1. Slovak Republic (Case No. ARB/97/4) July 18, 2003

The parties file their post-hearing reply submissions. (3) The Loewen Group, Inc. and Raymond

L. Loewen v. United States of America

(Case No. ARB(AF)/98/3) — Supplementary Decision Proceeding August 11, 2003 The Respondent files a request for supplementary decision. September 23, 2003 Claimant Raymond L. Loewen files his reply on the Respondent’s request of August 11, 2003. December 19, 2003 The Respondent files its reply in support of its request for a supplementary decision. January 9, 2004 Claimant Raymond L. Loewen files his rejoinder on the request for a supplementary decision. (4) Víctor Pey Casado and President Allende Foundation v. Republic of Chile (Case No. ARB/98/2)

There have been no new developments in this case since the publication of the 2003 ICSID Annual Report. (5) Patrick Mitchell v. Democratic Republic of the Congo (Case No. ARB/99/7) November 3, 2003 The parties file their statements on costs. January 13, 2004 The Tribunal declares the proceedings closed. February 9, 2004 The Tribunal renders its award. (6) Waste Management, Inc. v. United Mexican States (Case No. ARB(AF)/00/3) April 30, 2004 The Tribunal renders its award. (7) Salini Costruttori S.p.A. and Italstrade S.p.A. v. Kingdom of Morocco (Case No. ARB/00/4) February 4, 2004 The Tribunal issues an order taking note of the discontinuance of the proceeding pursuant to Arbitration Rule 43(1).

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ANNEX 2

DISPUTES BEFORE THE CENTRE DEVELOPMENTS IN FISCAL YEAR 2004(8) Autopista Concesionada de Venezuela, C.A. v. Bolivarian Republic of Venezuela (Case No. ARB/00/5) August 1, 2003 The Tribunal declares the proceedings closed. September 23, 2003 The Tribunal renders its award. (9) Consortium R.F.C.C. v. Kingdom of Morocco (Case No. ARB/00/6) (a) Original Arbitration Proceeding July 9, 2003 Th