International Centre for Settlement of Investment Disputes. ICSID: ICSID is the leading global institution dedicated to the settlement of disputes relating to international investments. It was established in the year 1966 by the "Agreement on Settlement of Investment Disputes between States and Nationals of Other States."
International Centre for Settlement of Investment Disputes created by the “Convention on the Settlement of Investment Disputes between States and Nationals of Other States”, signed in Washington on March 16, 1965 (ICSID Convention), if the Party ratifies this Convention. …” (Emphasis added) We should note here that Claimant while referring to article VI (3) (a) of the Kyrgyz-USA BIT the Claimant did not provide the esteemed Members of the Tribunal with the proper translation of the original portion of article VI (3) (a) (i) of the Kyrgyz-USA BIT33. Indeed, the latter clearly establishes that the dispute might be submitted for settlement by ICSID only if the other Party (i.e., the Kyrgyz Republic) has ratified the ICSID Convention. One can assume that Claimant intentionally attempts to circumvent the Treaty’s reservation by referring only to the beginning of article VI (3)(a)(i) and omitting its most important ending. The Government of the Kyrgyz Republic challenges the accuracy of English translation of the documents submitted by the Claimant and kindly requests the Tribunal to observe thoroughly each document presented by Sistem with regards to the present case. In Saluka Investments BV v. The Czech Republic (“Saluka”)34 the Tribunal held that: "the 'fair and equitable treatment' standard … is an autonomous Treaty standard," unmoored by customary law, "and must be interpreted in light of the object and purpose of the Treaty … ." According to the Tribunal fair and equitable treatment means: “[W]ithout undermining its legitimate right to take measures for the protection of the public interest, … [the Contracting State has] assumed an obligation to treat a foreign investor’s investment in a way that does not frustrate the investor’s underlying legitimate and reasonable expectations. A foreign investor whose 33 Claimant’s Memorial on the Jurisdiction, January 17, 2007, See para 11, page 5 34 UNCITRAL, Partial Award of March 17, 2006 at 309, available at: xxxx://xxx.xxx- xxx.xxx/XXXXXXX/XXX/XXX-CZ%20Partial%20Award%20170306.pdf interests are protected under the Treaty is entitled to expect that the [Contracting State] will not act in a way that is:
International Centre for Settlement of Investment Disputes created by the “Convention on the Settlement of Investment Disputes between States and Nationals of Other States”, signed in Washington on March 16, 1965 (ICSID Convention), if the Party ratifies this Convention. …” Article VII (1) of the Kyrgyz-Turkey BIT:
