He said the Philippines wants the dispute settlement mechanism to ensure it is amply protected under a comprehensive dispute settlement agreement arising from its commitments in the JPEPA.
Custodio cited as an example the contentious dispute over Japanese investments in the Philippine International Terminals Co. (Piatco) and the still uncompleted Ninoy Aquino International Airport Terminal 3.
Conflicting claims by Piatco and German investor Fraport A.G. are now in arbitration proceedings before the International Center for the Settlement of Investment Disputes in Washington and the International Chamber of Commerce in Singapore.
Thus to avoid similar disputes, the Philippine negotiating panel is ensuring the inclusion of a dispute settlement mechanism. – Marianne Go