On The Construction Of "Belt And Road" Investment Dispute Settlement Mechanism

The “Belt and Road” initiative is a global public product proposed by China and provides an international platform for the international community to further strengthen cooperation.Since the "Belt and Road" initiative was put forward,the "friend circle" has continued to expand,the economic and trade cooperation between the countries along the route has continued to deepen,and predictable investment friction will also be inevitable.A fair and effective investment dispute resolution mechanism has become an important guarantee for the orderly progress of the “Belt and Road” initiative.The existing major international investment dispute settlement mechanisms,including domestic investment dispute settlement mechanism,WTO dispute settlement mechanism,ICSID mechanism and mediation mechanism,have inherent flaws in their operation and cannot effectively balance the interests of private investors and host countries.At the same time,the countries along the “ Belt and Road ” are mostly developing countries with uneven development levels.The investment disputes between the countries along the route are more complicated,and they also put forward new requirements for the international investment dispute settlement mechanism,such as the diversification of dispute settlement methods.,Coordination,broad coverage,and full understanding of the countries along the route by the members of the dispute.The existing major international investment dispute settlement mechanisms,based on their inherent shortcomings,do not meet the new requirements of the “Belt and Road Initiative” for dispute settlement mechanisms.There are also certain dilemmas applicable under the“ Belt and Road Initiative ”.Therefore,the “ Belt and Road ” initiative needs an investment dispute resolution mechanism that meets its needs.The construction of the“ Belt and Road ” investment dispute resolution mechanism can uphold the basic principles of mutual consultation and co-construction,multiple unity,and open sharing.The“Belt and Road”investment arbitration center and the“Belt and Road”investment mediation center are set up to strictly limit the jurisdiction to For investment disputes between investors and host countries,a “Belt and Road” investment dispute resolutioncommittee is set up to meet the coordination requirements,and the recognition and enforcement of award results are guaranteed in the form of a convention.