In December of 2018, KCA filed a $300 million-dollar arbitration claim against the government of Guatemala under CAFTA-DR.
Climate change and the Central American Free Trade Agreement (CAFTA) have destabilized the economies and lives of many in Central America and are driving migration.
The company filed the suit in December 2018 for alleged violations of the Central America–Dominican Republic Free Trade Agreement (CAFTA-DR).
After sponsoring juntas until well into the 1990s, the US went after Central and South America with “free trade” deals before once again working with extremists.
Landless, subsistence, and small-scale farmers bear the brunt of the influx of competitive crops and price shocks that came with trade liberalization through CAFTA.
Now that the Trump administration has revamped the North American Free Trade Agreement, it is taking a look at kicking key countries out of its sister pact, the Central American Free Trade Agreement.
ICSID tribunal rules Costa Rica was in its right to stop a tourist construction project on the Pacific coast that violated environmental laws.
Exmingua is planning to launch arbitration proceedings against Guatemala following the suspension of its Tambor gold project.
Trade mission to Guatemala yields fruitful meetings with conservative estimates of $30 million in new sales.
US trade negotiators could move to renegotiate aspects of the Central American-Dominican Republic Free Trade Agreement by 2019.
US investors sue Government of Costa Rica under CAFTA free trade agreement for breach of treaty terms and conditions.
A chapter on labor issues within CAFTA was to provide an improved environment for labor rights. But the Guatemalan state has consistently failed to implement these protections.
Trade Representative Robert Lighthizer pointed to the need to modernise agreements with Peru, Colombia, Panama and Chile, as well as the Central America Free Trade Agreement (CAFTA).
This decision drives home the fact that U.S. trade deals do not protect workers. In truth, this failure is by design—labor chapters were not meant to work efficiently or effectively.
“The panel’s decision flies in the face of common sense. Guatemala’s failure to protect its workers and enforce its own laws is apparent to nearly everyone except the arbitrators.”
The U.S., for the most part, lost its first challenge of another country’s adherence to the labor rules under a trade deal.
El Salvador froze bank accounts and assets belonging to OceanaGold Corp after the mining company refused to pay the country $8 million as mandated by an international court.
Guatemala has agreed to eliminate its 12.5 percent tariff on U.S. fresh, frozen and chilled poultry products under the U.S.-DR-CAFTA free trade agreement
Pac Rim Cayman raises interesting jurisdictional issues as well as environmental and social justice issues in the context of resource development in developing countries.
Pac Rim Cayman LLC thwarted in attempt to recover damages from El Salvador