Dispute Resolution Regime between “Mercosur” and members of the “Comunidad Andina”
On September 12, 2008, it was published in the Official Gazette the Law No. 26.404 that approves the First Additional Protocol to the Economic Complementation Agreement No. 59 regarding the Dispute Resolution Regime executed among the members of Mercosur and Colombia, Ecuador, and Venezuela.
This Protocol establishes the proceedings by which the signatory States will resolve their disputes regarding the interpretation, implementation or default of the regulations of the Economic Complementation Agreement No. 59 and the instruments and protocols signed or to be signed within its framework.
Alternatively, the claiming party may choose to resolve the dispute according the proceedings of the Marrakech Agreement of the World Trade Organization, but once initiated the proceedings, the jurisdiction elected excludes the other.
For further information on this topic please contact Julián Peña