ICSID 2012 Annual Report

The recent growth in investor-state arbitration has continued apace. International Center for Settlement of Investment Dispute (ICSID) registered a record 38 cases in 2011, and had registered 19 further cases by June 30, 2012. Included in these numbers are 3 new conciliation cases, showing an increased resort not simply to arbitration but also to alternative methods of dispute resolution available under the ICSID convention and additional facility. Such statistics should not be considered in isolation from their broader economic context. There have been unprecedented increases in global flows of foreign direct investment in the last two decades. These statistics must also be read in light of the fact that international investment law and investor-state dispute settlement are a new discipline. ICSID continues to play a vital role in the evolving international investment legal system. Its primary job is very specific: to offer foreign investors and host States an impartial, effective and accessible facility for arbitration and conciliation of international investment disputes. ICSID has taken numerous steps in the past year to enhance its capacity to fulfill this role. In September of 2011, ICSID announced a new list of Chairman's appointees to the panel of arbitrators and panel of conciliators. ICSID will continue its efforts to provide excellent service to disputing parties in the upcoming year.