CIADI - Annual report 2008

INTERNATIONAL CENTRE FOR smLEMENT OF INVESTMENT DISPUTES ANNUAL REPORTii | ICSIDANNUAL REPORT 2008 | iii Letter of Transmittal 1

ICSID Secretariat 2 Introduction 3 Membership 5 Disputes Before the Centre 5 Panels of Conciliators and of Arbitrators 7 Website and Publications 8 Conferences 9 Forty-first Annual Meeting of the Administrative Council 10 Finance 11

ANNEXES

1. List of Contracting States and Other Signatories of the Convention 12

2. Disputes Before the Centre 17

3. Panels of Conciliators and of Arbitrators 60

4. ICSID Documents and Publications 62

5. Resolutions Adopted by the Administrative Council 64

6. Financial Statements and Report of Independent Auditors 65

CONTENTSiv | ICSIDANNUAL REPORT 2008 | 1

September 4, 2008 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, 2007 to June 30, 2008. The Report includes the audited financial statements of the Centre, presented pursuant to Administrative and Financial Regulation 19. Sincerely yours, Nassib G. Ziadé Acting Secretary-General Mr. Robert B. Zoellick Chairman Administrative Council International Centre for Settlement of Investment Disputes E T TLEM

ENT OF I N V E S T MENT DISPU

T E •

INTERNATIONAL CENTRE FOR

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I C S I D

INTERNATIONAL CENTRE FOR SETTLEMENT OF

INVESTMENT DISPUTES2 | ICSID

SECRETARIAT OF THE INTERNATIONAL CENTRE FOR

SETTLEMENT OF INVESTMENT DISPUTES

T E •

INTERNATIONAL CENTRE FOR

•

I C S I D

INTERNATIONAL CENTRE FOR SETTLEMENT OF

INVESTMENT DISPUTES2 | ICSID

SECRETARIAT OF THE INTERNATIONAL CENTRE FOR

SETTLEMENT OF INVESTMENT DISPUTES JUNE 30, 2008

Nassib G. Ziadé, Acting Secretary-General

LEgAL STAff

Gonzalo Flores, Senior Counsel Milanka Kostadinova, Senior Counsel Eloïse Obadia, Senior Counsel Ucheora Onwuamaegbu, Senior Counsel Claudia Frutos-Peterson, Counsel Martina Polasek, Counsel Jorge Luis Alva-Luperdi, Legal Associate Mercedes Cordido-Freytes de Kurowski, Consultant Peter C. Hansen, Consultant Marco Tulio Montañés-Rumayor, Consultant Frauke Nitschke, Consultant Evgeniya Rubinina, Legal Associate Natalí Sequeira, Consultant Tomás Solís, Consultant Marat Umerov, Consultant fINANCIAL AND gENERAL ADMINISTRATION STAff Javier Castro, Program Officer William D. Casson, Senior Consultant Zelalem Tesfa Dagnaw, Financial Officer Malkiat Singh, Conference Assistant Ginette Moïse-Luabeya, Consultant

PARALEgAL, ADMINSTRATIVE AND CLIENT SUPPORT STAff

Anna D. Avilés-Alfaro, Paralegal Mireigne Denis, Paralegal Walter Meza-Cuadra, Paralegal Michelle Salomon, Paralegal Alix Ahimon, Language Program Assistant Ildar Bayazit, Program Assistant Marie L. Bonhomme, Program Assistant Sonia C. Lee, Program Assistant Gloria Peralta, Program AssistantANNUAL REPORT 2008 | 3 Fiscal year 2008 (FY2008) was demanding yet successful for the Centre. The number of pending ICSID cases rose by 12 percent yearon-year and reached 145 cases, the highest yearly number ever administered by ICSID. Six other cases were administered under the

Fiscal year 2008 (FY2008) was demanding yet successful for the Centre. The number of pending ICSID cases rose by 12 percent yearon-year and reached 145 cases, the highest yearly number ever administered by ICSID. Six other cases were administered under the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL). FY2008 witnessed a major set of reforms aimed at renewing ICSID’s operational efficiency. Also in FY2008, the Republic of Bolivia’s denunciation of the ICSID Convention marked the first withdrawal of a Contracting State from ICSID membership and reduced the number of the ICSID Contracting States to 143. In FY2008, ICSID addressed its rising workload by undertaking a number of reform initiatives intended to strengthen and modernize its operations. The creation of a financial team was one of an array of mechanisms put into place to improve accounting and financial reporting controls. The position of Deputy Secretary-General was filled after a two-year vacancy. Three staff teams worked exclusively on case administration, which resulted in the expedited registration of arbitration and conciliation requests, and in a better overall organization of case-related work. The average time taken to register a case after receiving a request was reduced by over 50 percent yearon-year. A fifth team handled ICSID’s publications and knowledge management programs, as well as institutional matters. During FY2008, the Centre leveraged its use of technology to improve its daily operations. The Secretariat launched a new website that expanded available content and improved online access to ICSID data and informational materials. New features streamline communications between the Centre and its audiences, and ease the submission of requests. At the beginning of FY2008, a major program was launched to create an electronic system for case management. The program’s preliminary cataloguing of ICSID’s business processes and technical requirements was far advanced during the year.

audiences, and ease the submission of requests. At the beginning of FY2008, a major program was launched to create an electronic system for case management. The program’s preliminary cataloguing of ICSID’s business processes and technical requirements was far advanced during the year. As a leading international arbitration institution in the field of investor-State dispute settlement, ICSID is in a unique position to gather and disseminate knowledge in accordance with its mandate. An important component of ICSID’s knowledge-dissemination efforts is the ICSID Review—Foreign Investment Law Journal. T wo issues of the journal were completed during FY2008, in addition to regular releases of items for the collections Investment Laws of the World and Investment Treaties, and the issuance of two issues of ICSID’s newsletter, News from ICSID. The staff of the Centre made a number of presentations at arbitration conferences and educational events. INTRODUCTION4 | ICSID An important part of ICSID’s institutional activities is cooperation with other arbitration institutions and organizations. During FY2008, hearings in ICSID cases were held at the Permanent Court of Arbitration and the Singapore International Arbitration Centre on the basis of mutual cooperation agreements. The Centre also continued its collaboration with the International Council for Commercial Arbitration and co-sponsored with the American Arbitration Association and the International Court of Arbitration of the International Chamber of Commerce (ICC) the 24th conference in a joint series of colloquia on international arbitration. Also during the year, the ICSID Acting Secretary-General, Nassib G. Ziadé, was elected as Council Member of the International Federation of Commercial Arbitration Institutions. FY2008 saw many changes in the Centre’s leadership. In July 2007, Robert B. Zoellick succeeded Paul Wolfowitz as Chairman of the ICSID Administrative Council. In October 2007, the Administrative Council elected Nassib

International Federation of Commercial Arbitration Institutions. FY2008 saw many changes in the Centre’s leadership. In July 2007, Robert B. Zoellick succeeded Paul Wolfowitz as Chairman of the ICSID Administrative Council. In October 2007, the Administrative Council elected Nassib

G. Ziadé as Deputy Secretary-General for a sixyear term, upon his nomination by the

Chairman. In April 2008, Ana Palacio resigned as ICSID’s Secretary-General. Ms. Palacio’s contributions had enabled ICSID to update its strategic focus and maintain its leadership status in the field of international investment dispute settlement. In announcing Ms. Palacio’s departure, Mr. Zoellick noted that Mr. Ziadé would serve as Acting Secretary-General of ICSID effective April 15, 2008. Details on the developments in the Centre’s activities in FY2008 are set forth below.ANNUAL REPORT 2008 | 5 The Republic of Bolivia withdrew from ICSID membership effective November 3, 2007, after giving a notice of denunciation of the ICSID Convention to the depositary of the Convention (the World Bank) on May 3, 2007. At June 30, 2008, there were 155 signatory States to the ICSID Convention. Of these, 143 States are ICSID Contracting States by virtue of their having also deposited instruments of ratification, acceptance or approval of the Convention. Annex 1 provides a complete list of the Contracting States and other signatories of the ICSID Convention.

The sustained growth in ICSID’s caseload continued during FY2008. A record 48 proceedings were instituted in the course of the year. These included the registration of 31 new requests for arbitration and one new request for conciliation, bringing the total number of cases registered since ICSID’s establishment to 268. More than half of these cases were pending

proceedings were instituted in the course of the year. These included the registration of 31 new requests for arbitration and one new request for conciliation, bringing the total number of cases registered since ICSID’s establishment to 268. More than half of these cases were pending during FY2008—a record high of 145 cases administered in a single fiscal year. There were 128 ICSID cases pending before the Centre as of June 30, 2008. All but two of the 32 new conciliation and arbitration cases were ICSID Convention proceedings. The other two new arbitration cases were brought under the ICSID Additional Facility Rules. Three multilateral treaties, the North American Free Trade Agreement (NAFTA), the Dominican Republic–Central America–United States Free Trade Agreement (DR-CAFTA) and the Energy Charter Treaty (ECT), formed the jurisdictional bases of five of the new cases. The majority of the remaining new cases were brought under bilateral investment treaties. Alternative bases for jurisdiction were asserted in five of the new arbitration proceedings. The new conciliation case invoked the ICSID conciliation provision contained in a contract between the parties. T wenty-eight proceedings were concluded in the course of FY2008. A record 17 awards

MEMBERSHIP

DISPUTES BEFORE THE CENTRE6 | ICSID were rendered. Nine upheld the claims in full or in part, six dismissed all claims on the merits or on jurisdictional grounds, and two embodied the parties’ settlement agreements. Six further arbitration proceedings were discontinued. In addition, two annulment proceedings were concluded and the decisions of the respective ad hoc committees were issued. Three rectification proceedings were concluded in the review period. ICSID tribunals and ad hoc committees issued a total of 21 other decisions and 66 procedural orders dealing with a variety of legal issues in the ongoing cases. The Centre’s caseload reflects the parties’ diverse

proceedings were concluded in the review period. ICSID tribunals and ad hoc committees issued a total of 21 other decisions and 66 procedural orders dealing with a variety of legal issues in the ongoing cases. The Centre’s caseload reflects the parties’ diverse geographical spread. In recent years, the largest number of cases have involved countries in the Latin America and Caribbean region. This statistic continued to hold true in FY2008, with cases involving respondent States in this region representing 49 percent of the total. There was also a notable increase in the number of cases brought against countries in Eastern Europe and Central Asia, so that their 24 percent of all pending cases made them the second-largest regional group of cases. The number of cases involving countries in South and East Asia remained stable. There were also slight increases in the numbers of cases involving countries in the Middle East and North Africa, Sub-Saharan Africa and North America. The disputes before the Centre related to a wide range of economic sectors, with the energy and public utilities sectors once again being most strongly represented. In total, 21 percent of the pending cases involved oil, gas and mining disputes, 14 percent related to power generation and electricity disputes, and a further 14 percent to telecommunications or water and sewer disputes. Also prominent was the number of disputes related to the construction industry, which represented 11 percent of all pending cases. The remaining 40 percent involved disputes relating to investments in a variety of other economic sectors.

In total, 75 different sessions and hearings were held in the cases pending before the Centre. The majority of these were held at the Centre’s seat in Washington, D.C., but a number took place at venues in Europe and Asia. As part of ICSID’s efforts to improve the efficiency of case administration, a large number of organizational meetings and first sessions were held by video or telephone conferencing. During FY2008, the Centre reintroduced the fee it had charged

place at venues in Europe and Asia. As part of ICSID’s efforts to improve the efficiency of case administration, a large number of organizational meetings and first sessions were held by video or telephone conferencing. During FY2008, the Centre reintroduced the fee it had charged parties in the past for its legal staff to attend meetings held away from Washington, D.C. Thirty-seven ICSID arbitral tribunals, eight ad hoc committees and one conciliation commission were constituted or reconstituted in the pending cases. A total of 82 individuals, representing 37 different nationalities, were appointed to serve asANNUAL REPORT 2008 | 7 ICSID arbitrators, ad hoc committee members or conciliators. Parties or party-selected arbitrators nominated 80 of the 127 appointments made during the year. The remaining 47 appointments were made by the Chairman of the ICSID Administrative Council or by the SecretaryGeneral. In making the appointments, the Centre continued its commitment to diversity, conflictof-interest avoidance and ensuring the availability of appointees to participate in an efficient casehandling process. In 79 of the 145 pending cases, the proceedings were conducted in one of the three official languages of ICSID (English, French and Spanish). In the remaining 66 cases, two of these languages were used. During FY2008, ICSID provided administrative support to six arbitration proceedings conducted under the UNCITRAL Arbitration Rules. One proceeding was initiated, and another was concluded with an award. The services provided by the Centre in the pending UNCITRAL proceedings ranged from limited assistance (such as organizing hearings or holding accounts) to full Secretariat administrative services. The SecretaryGeneral served as an appointing authority of an arbitrator in a NAFTA Chapter Eleven case conducted under the UNCITRAL rules. Annex 2 provides details on the procedural developments in each of the ICSID Convention and Additional Facility Rules proceedings

Secretariat administrative services. The SecretaryGeneral served as an appointing authority of an arbitrator in a NAFTA Chapter Eleven case conducted under the UNCITRAL rules. Annex 2 provides details on the procedural developments in each of the ICSID Convention and Additional Facility Rules proceedings pending before the Centre in FY2008. Pursuant to the ICSID Convention, the Centre maintains a Panel of Conciliators and a Panel of Arbitrators. Under Article 13 of the Convention, each Contracting State may designate to each Panel up to four persons who will serve for a renewable period of six years. The designees may, but need not, be nationals of the designating country. Up to ten persons may be designated to each Panel by the Chairman of the Administrative Council. The Panels are an important component of the ICSID system of dispute settlement. They are a source from which parties may choose to select conciliators or arbitrators for ICSID proceedings. In addition, when the Chairman of the ICSID Administrative Council is called upon to appoint conciliators, arbitrators or ad hoc committee members under Articles 30, 38 or 52 of the ICSID Convention, his appointees must be drawn from the Panels. During FY2008, nine ICSID Contracting States made designations to the ICSID Panels, namely Germany, Guatemala, Grenada, Guyana, Italy, the Netherlands, New Zealand, Switzerland and the United States. Thirty-nine persons were thereby designated or re-designated to the Panels. At the end of FY2008, there were 516 Members of the ICSID Panels of Conciliators and of Arbitrators. Details on the new designations made in the course of FY2008 are provided in Annex 3. PANELS OF CONCILIATORS AND OF ARBITRATORS8 | ICSID Priority was given in FY2008 to the improved use of technology in ICSID’s daily operations,

Details on the new designations made in the course of FY2008 are provided in Annex 3. PANELS OF CONCILIATORS AND OF ARBITRATORS8 | ICSID Priority was given in FY2008 to the improved use of technology in ICSID’s daily operations, and resulted in the launch of a new ICSID website in November 2007. The new website made access to ICSID data and informational materials easier and faster. The website’s content was significantly expanded with the addition of, among other things, texts of decisions and awards previously available only in hard copy, and historical data on procedural developments in ICSID cases. The revamped website has a dynamic new format which allows for efficient information management and cost-effective maintenance. It is also an evolving information resource that adds to the transparency of ICSID’s activities, procedures and jurisprudence. ICSID continued its print publication and knowledge-dissemination activities, building on practice and scholarship acquired in its operations. ICSID’s flagship publication, ICSID Review—Foreign Investment Law Journal, appears twice yearly and contains materials on international and domestic law relating to foreign investment and investment dispute settlement. T wo issues of the Review were completed for publication during the year. The first issue contained articles relating to parallel litigation and foreign investment dispute settlement, a commentary on the most recent amendments of the ICSID rules, and a review of a book on denial of justice. The second issue, which was completed under the guidance of Mr. Ziadé after his succession to the Editor-inChief position vacated by Antonio R. Parra, included articles relating to principles of compensation in the context of investment treaties, fair and equitable treatment in international investment law , developments in the regulations and rules of the Centre, and waivers by investors of the right to access to protections accorded under investment treaties. T exts of recent decisions and awards rendered in ICSID

treaties, fair and equitable treatment in international investment law , developments in the regulations and rules of the Centre, and waivers by investors of the right to access to protections accorded under investment treaties. T exts of recent decisions and awards rendered in ICSID proceedings were also published in the Review with introductory notes by ICSID counsel. The Centre continued to update its multivolume collections of Investment Laws of the World and Investment Treaties. T wo new releases for the Investment Treaties collection were published during the year. They contained the texts of 40 bilateral investment treaties concluded by 44 countries. The tenth volume of the collection was commenced with the latest release. The Investment Laws of the World collection features investment legislation and contact information for the national investment agencies of 133 countries. The two releases issued during the year for this collection included updates on recent amendments in the investment legislation of Bulgaria, Cameroon, China, the Dominican Republic, Gambia, Guyana, Haiti, Indonesia, Lao P .D.R. and the Seychelles.

WEBSITE AND PUBLICATIONSANNUAL REPORT 2008 | 9

Finally, the Centre published two issues of its newsletter, News from ICSID. These issues reported on important institutional developments such as ICSID appointments and elections, and on a speech concerning recent institutional developments at ICSID delivered by Ms. Palacio at the 24th AAA/ICC/ICSID Joint Colloquium on International Arbitration. A list of ICSID documents and publications is provided in Annex 4 to this report.

In accordance with a long-standing tradition, ICSID continued to co-sponsor annual colloquia on international arbitration with the ICC and the American Arbitration Association (AAA). The 24th colloquium in this series was hosted by the ICC International Court of Arbitration in Paris on November 16, 2007. The four sessions of the colloquium were devoted to current developments at the three institutions,

the American Arbitration Association (AAA). The 24th colloquium in this series was hosted by the ICC International Court of Arbitration in Paris on November 16, 2007. The four sessions of the colloquium were devoted to current developments at the three institutions, topics relating to efficiency in the arbitration process, aspects of State-party participation in international arbitration, and the extension of proceedings beyond the original parties to a dispute. Four ICSID representatives participated in the sessions as moderators or panelists. ICSID staff speaking engagements included a symposium organized by the George Washington University Law School on the current state of the law in investment arbitration; a conference organized by the American University Washington College of Law on investment arbitration in Latin America; the Fourth Annual Seminar on International Commercial Arbitration, which was devoted to dispute settlement in the oil and gas industry and sponsored by the American University Washington College of Law; the Second Columbia University International Conference on the Future of Investment Law and Policy; and a conference on globalization, business climate and dispute resolution in Latin America that was organized by Cornell University Law School. CONFERENCES10 | ICSID ICSID staff provided training to government officials and practitioners at courses organized by the International Law Institute in Washington, D.C.; the 102nd Annual Meeting of the American Society of International Law; the 35th Annual Meeting of the Canadian Council of International Law in Ottawa; a conference on alternative dispute resolution jointly organized by the United Nations Conference on Trade and Development (UNCTAD) and the Ministry of Justice of the Ukraine, concerning investment treaties and alternative methods of investor-State dispute resolution; and a further UNCTAD conference held in Washington, D.C. Finally, Secretariat staff delivered lectures on various aspects of the ICSID dispute settlement system before academic audiences. These included several lectures at the American University Washington College of Law (Washington, D.C.),

and a further UNCTAD conference held in Washington, D.C. Finally, Secretariat staff delivered lectures on various aspects of the ICSID dispute settlement system before academic audiences. These included several lectures at the American University Washington College of Law (Washington, D.C.), the Georgetown University Law School (Washington, D.C.), McGill University (Montreal), and the Universidad Externado de Colombia (Bogota) (by video conference).

The Forty-first Annual Meeting of the Administrative Council took place on October 22, 2007, in Washington, D.C., 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 Administrative Council approved the Centre’s 2007 Annual Report and its administrative budget for FY2008. On the nomination of its Chairman, the Council elected Mr. Ziadé as Deputy SecretaryGeneral for a term of six years. The Council also expressed appreciation to Mr. Parra for his exceptionally distinguished service as the first Deputy Secretary-General of the Centre, during the period 1999 to 2005. The Resolutions adopted at the Meeting are set forth in Annex 5.

FORTY-FIRST ANNUAL

MEETING OF THE ADMINISTRATIVE COUNCILANNUAL REPORT 2008 | 11

ICSID’s administrative expenditures in FY2008 were covered by the W orld Bank pursuant to the Memorandum of Administrative Arrangements concluded between the Bank and ICSID in February 1967, and also by fee income and income from the sale of publications. It is therefore not necessary to assess any excess expenditures on Contracting States pursuant to Article 17 of the Convention. Expenditures relating to pending arbitration proceedings are borne by the parties in accordance with ICSID’s Administrative and Financial Regulations. The Financial Statements of the Centre for FY2008 are set forth in Annex 6.

Article 17 of the Convention. Expenditures relating to pending arbitration proceedings are borne by the parties in accordance with ICSID’s Administrative and Financial Regulations. The Financial Statements of the Centre for FY2008 are set forth in Annex 6. FINANCE12 | ICSID The 155 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 143 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. Deposit of Entry into force State Signature Ratification of Convention 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 Azerbaijan Sep. 18, 1992 Sep. 18, 1992 Oct. 18, 1992 Bahamas, The 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 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 Dec. 20, 2004 Jan. 19, 2005 Cameroon Sep. 23, 1965 Jan. 3, 1967 Feb. 2, 1967 Canada Dec. 15, 2006 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

ANNEX 1

CONTRACTING STATES AND OTHER SIGNATORIES OF THE CONVENTION AS Of JUNE 30, 2008ANNUAL REPORT 2008 | 13

Colombia May 18, 1993 July 15, 1997 Aug. 14, 1997 Comoros Sep. 26, 1978 Nov. 7, 1978 Dec. 7, 1978 Congo, Democratic Rep. of Oct. 29, 1968 Apr. 29, 1970 May 29, 1970 Congo, Rep. of Dec. 27, 1965 June 23, 1966 Oct. 14, 1966 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 July 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 Deposit of Entry into force State Signature Ratification of Convention14 | ICSID 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 Republic June 9, 1995 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