Application of Mandatory Mediation to the Investment Dispute Settlement under the Belt and Road Initiative
During the ten years of implementation of the Belt and Road Initiative,despite the significantly increasing amount of FDI and the continuously diversified investment structure,there are also some joint projects that have been interrupted due to conflicts between the investors and the local governments.As the Belt and Road Initiative paves a path towards peace and win-win coopera-tion,it may be possible to emulate mandatory mediation practices from domestic laws and encourage the use of mandatory media-tion in resolving investor-state disputes.Mandatory mediation,more economical,flexible and helpful for repairing cooperative re-lations,will highlight the advantages of mediation over investment arbitration.However,mandatory mediation does not alter its essentially voluntary nature.As one of the ADRs,its settlement agreements still depend on the consent of both parties.When considering mandatory mediation for resolving investment disputes within the Belt and Road Initiative,it is supposed to choose an appropriate approach,clarify the scope of application,and establish a set of efficient and flexible dispute settlement mechanisms through procedural rules.This should be done while weighing the advantages and disadvantages of alternative dispute settlement methods,including consultation,arbitration,and litigation proceedings in host countries.
mandatory mediationinvestment dispute settlement mechanismthe Belt and Road Initiativeapplicationprocedure
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