Research On The "The Belt And Road" International Investment Arbitration Mechanism

The "the Belt and Road" initiative has been put forward for ten years,and investment exchanges between countries along the route are also increasingly close.Based on the different stages of economic development of countries along the line,the domestic resource share is different,and the industrial layout also shows a trend of complementing each other,which provides opportunities for China to continue opening up,further promote Chinese path to modernization,and strengthen communication and exchange with countries along the line.However,given the differences in economic and cultural systems,historical evolution,and geopolitical aspects among countries along the route,differences and controversies are inevitable in the process of investment exchanges.Currently,the most commonly used way to resolve international investment disputes is through international investment arbitration.Admittedly,the existing international investment arbitration mechanism provides investors and the host country with a way to remedy their rights,but there are still conflicts in the interpretation of jurisdiction,difficulties in the selection of arbitrators,unfair sharing of arbitration costs,the absence of an appeal mechanism,and unbearable arbitration costs,which cannot effectively meet the future expectations and needs of the "the Belt and Road" initiative,and may hinder the common development and cooperation of countries along the "the Belt and Road".Therefore,the construction of the "the Belt and Road" international investment arbitration mechanism is the general trend.Under the opportunity of the "the Belt and Road" construction,countries along the line need to respond to the trend of reform of the international investment arbitration mechanism.China can combine the existing investment dispute cases of the "the Belt and Road",explore the shortcomings of the existing international investment arbitration mechanism,and participate in and lead the construction of the "the Belt and Road" international investment arbitration mechanism.First,the "the Belt and Road" International Investment Dispute Settlement Center will be established on the basis of the AIIB platform,and the "the Belt and Road" Investment Dispute Settlement Convention will be concluded to broaden the scope of cases and clarify the jurisdiction of the "the Belt and Road" International Investment Dispute Settlement Center;Secondly,a well-established mechanism for selecting arbitrators and a clear list of arbitrators should be established,and a permanent appellate body should be established to ensure timely correction of erroneous rulings.This can ensure the consistency of rulings while also taking into account arbitration efficiency;Finally,promote the connection between arbitration and diversified solutions.In the end,we will complete the construction of an international investment arbitration mechanism that conforms to the characteristics of the "the Belt and Road" era and effectively resolves disputes.