Research On The Mediation Mechanism Of International Investment Disputes

In the field of international investment dispute resolution,arbitration occupies a prime position.However,due to the global economic downturn and uncertainties such as epidemics and wars,the number of cases submitted to arbitration has surged,and the drawbacks of costly and time-consuming international investment dispute resolution by arbitration have been highlighted,against the backdrop of which mediation has received increasing attention for its ability to balance the interests of host countries and investors and its efficiency.However,while mediation is increasingly included as a dispute resolution option in investment agreements between countries and dispute resolution bodies are constantly updating their mediation rules,the number of cases resolved by mediation has not increased.Therefore,it is important to study the dilemmas faced by the development of mediation mechanisms and propose solutions to address them in order to reform the international investment dispute settlement mechanism.This paper uses a combination of textual analysis and case analysis to study the development and application of mediation mechanisms in international investment disputes,focusing on the ICSID mediation rules and cases,supplemented by the mediation provisions in other international dispute resolution bodies and investment agreements.It is found that although mediation rules have been formulated and clarified by existing international organizations and IIAs,mediation in international investment dispute settlement still faces problems such as reluctance of host governments to participate in mediation,lack of enforcement guarantees for mediated settlement agreements,lack of experienced professional mediators,and fragmentation of the mediation mechanism.In order to further improve the international investment dispute mediation mechanism and give full play to the positive role of mediation in investment dispute settlement,the author believes that firstly,the willingness and ability of host governments to participate in mediation should be enhanced,secondly,the enforcement power of settlement agreements should be given,secondly,unified selection criteria for mediators should be formulated,and finally,the rules of investment dispute mediation should be improved.In addition,mediation has a high degree of compatibility with China’s traditional philosophy,and China should further play a leading role on the basis of improving the domestic supporting provisions on international investment dispute mediation mechanism,and transforming our mediation experience into international dispute resolution culture to improve our discourse in the field of international dispute resolution.