International Agreement for the termination of Bilateral Investment Treaties between the Member States of the European Union – The Agreement focuses on terminating all bilateral investment agreements between Bulgaria, Croatia, Cyprus, Czechia, Denmark, Estonia, France, Germany, Greece, Hungary, Latvia, Lithuania, Malta, the Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, and Spain, as well as Belgium and Luxembourg, who had entered into bilateral agreements focusing on securing their investments. The Agreement provides that the arbitration clauses in the terminated bilateral investment agreements may no longer serve as a legal basis for fresh proceedings. Accordingly, investors who are yet to initiate proceedings will no longer be able to do so.
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