The National Association of Manufacturers (NAM) vice president for international economic fffairs Frank Vargo issued the following statement regarding the decision by an international arbitration panel in the claim of Chevron against the government of Ecuador under the U.S.-Ecuador Bilateral Investment Treaty (BIT):
ruling in favor of Chevron emphasizes the importance of the U.S. BIT
program as a tool to ensure U.S. investors are treated fairly in BIT
partner countries, including Ecuador.
Administration is conducting a thorough policy review of the U.S. BIT
program, and this decision provides evidence of the importance of a
strong BIT program to protect U.S. investors, workers and shareholders
when U.S. companies invest abroad. We urge the Administration to
quickly complete its review of the ‘Model BIT’ framework with
additional emphasis on our BIT program.
the United States are at a competitive disadvantage in many
fast-growing foreign markets where foreign competitors enjoy strong
protections, including access to international arbitration. Many U.S.
companies stand to benefit in these foreign markets by negotiating
strong treaties to protect international investments.
encouraged by this decision and we hope the Administration moves
forward with bolstering the BIT program to help level the playing field
in foreign markets for American companies.”
Manufacturers Statement on Arbitration Tribunal Ruling
April 5, 2010