European Commission | 5 May 2020
EU Member States sign an agreement for the termination of intra-EU bilateral investment treaties
On 5 May 2020, 23 Member States signed an agreement for the termination of intra-EU bilateral investment treaties (“termination agreement”).
The termination agreement implements the March 2018 European Court of Justice judgment (Achmea case), where the Court found that investor-State arbitration clauses in intra-EU bilateral investment treaties (“intra-EU BITs”) are incompatible with the EU Treaties.
Signatories of the termination agreement are Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, France, Germany, Greece, Hungary, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia and Spain.
Today’s agreement is subject to ratification, approval or acceptance and enter into force 30 calendar days after the date on which the Secretary-General of the Council of the European Union receives the second instrument of ratification, approval or acceptance.