The North American Free Trade Agreement (NAFTA) came to an end on 1 July 2020. After 24 years, it has been replaced by a new agreement called the Canada-United States-Mexico Agreement. The main impact as far as the energy sector is concerned was elimination of the famous Chapter 11 dispute resolution provision. Chapter 11 of NAFTA gave private investors the right to bring claims directly and unilaterally in the host country. This was unique at the time when the arbitration world was dominated by state-to-state proceeding.
Read moreBrexit trade talks extended as leaders pledge to go ‘the extra mile’
European Commission President Ursula von der Leyen said Sunday that Brexit trade talks with the U.K. will be extended beyond Sunday’s deadline, adding that “we think it is responsible at this point to go the extra mile.”
Von der Leyen spoke with British Prime Minister Boris Johnson via telephone on Sunday before releasing a joint statement. Both have now mandated their negotiating teams to continue their work.
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