Compatibility of Different Investment Dispute Settlement Mechanisms Under the Multilateral Instrument

Given states cannot reach consensus on adopting which reform option for investor-state dispute settlement (ISDS)multilateral reform, the establishment of a flexible multilateral instrument encompassing all discussed reform options for states to opt for has been proposed. Among these options, “mediation”, “improved investment arbitration”, “appellate mechanism”, and “multilateral investment court” reform options have the possibility to be adopted in combination by states. In order for the multilateral instrument to operate effectively, this article respectively discusses the compatibility of investment mediation with other international investment dispute mechanisms and the compatibility of investment appellate mechanism with investment arbitration or the first-instance proceeding of the multilateral investment court.