Professor Mark Feldman, Interim Dean of Peking University School of Transnational Law (STL), was invited to participate in the 2023 Annual Conference of the China International Investment Arbitration Forum. The conference, themed “Focusing on ISDS Reform and Investment Facilitation,” took place in Shanghai on October 27, 2023.
The event brought together distinguished international experts, scholars, and lawyers in the fields of international investment law and arbitration to deliberate and exchange ideas on two key topics: “Reform and Practice of ISDS” and “New Developments in Investment Facilitation”.
Professor Feldman delivered a speech addressing the topic of "Reform and Practice of ISDS," primarily discussing investment arbitration reform and the “Pacific Rim Consensus”. He highlighted three fundamentally different models of investment treaty practice: a European model, a Regional South model, and a Pacific Rim model. Notably, Professor Feldman argued that the Pacific Rim model provides the strongest foundation for achieving significant progress in the ongoing discussions of the United Nations Commission on International Trade Law (UNCITRAL) Working Group III (WGIII) on investment arbitration reform.
Professor Feldman underscored two crucial aspects of the Pacific Rim model. Firstly, the Pacific Rim model is compatible with significant levels of institutionalization, which is a key WG III policy consideration, without sacrificing an international arbitration model based on party autonomy. Secondly, the Pacific Rim model is compatible with significant advances in consistency and harmonization which are policy goals closely associated with institutionalization.
Professor Feldman with STL alumna LU Yahan