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United Kingdom Joins the Comprehensive and Progressive Agreement for Trans-Pacific Partnership – Implications for Investment Protection and ISDS

The United Kingdom (“UK”) has joined the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (“CPTPP”). The CPTPP’s entry into force for the UK is expected to take place in the second half of 2024. The UK’s joining is notable since it is the first new economy to join since the CPTPP was signed in 2018 and the UK, as a European state, hails from far beyond the “trans-pacific” region. On 16 July 2023, the UK announced that it had formally signed the treaty that allows it to join the CPTPP. The same day, the Prime Minister of the CPTPP’s Depositary, New Zealand, commented that the UK’s accession would “see […] economic opportunities for growth and...To read the full article, please see the PDF file

*2023.8.2  Clarification regarding the status of investment treaty protection and ISDS between Japan and the UK on p. 2.
Correction of “Permanent Secretary’s Office” to “Department for Business and Trade” on p. 2.
Update of hyperlinks to side letters between the UK and Australia, and the UK and New Zealand on p. 2. 
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Lars’ practice is focused on commercial and investment arbitration. He has particular expertise in contentious proceedings involving post-M&A, commercial, manufacturing, construction, and distribution matters, in areas such as life sciences, automotive, and energy. Lars also deals with cases involving governments, and has advised foreign investors and sovereign states on issues of foreign direct investment and public international law, including related negotiations and investor-state disputes. He has been involved in more than 50 international arbitrations as counsel and arbitrator under the arbitration rules of institutions such as the ICC, DIS, SAC, NAI, ICDR, KCAB, JCAA, SIAC, and ICSID, as well as under the UNCITRAL Rules.

Shimpei Ishido has been active in the field of international trade matters and international investment disputes for many years. He advises and represents governments and major corporations with regard to investment arbitration under ICSID, ICC, and UNCITRAL arbitration rules. He currently serves as a member of the Japanese delegation to UNCITRAL Working Group III (Investor–State Dispute Settlement Reform). He also advises the government and corporations regarding anti-dumping and countervailing measures and WTO dispute settlements proceedings concerning such trade remedy measures.

In addition, he usually provides his clients with general advice on a variety of international law issues, including investment protection, economic sanctions, government procurement, trade in services, e-commerce, sovereign and diplomatic immunities, law of the sea, and space law. His client engagement in these fields of international law includes:
i) capacity-building training on international investment law and trade in services to government officials of various states in the Asia-Pacific Region and Central Asia;
ii) advice on government procurement procedures covered by GPA and FTA/EPAs;
iii) advice on sovereign or diplomatic immunities issues concerning contracts between a foreign government/international organisation and a private entity;
iv) advice on international law issues arising from private entities' exploration of space resources on the Moon and other celestial bodies.

Before joining Nishimura & Asahi, he led, as legal counsel to the Ministry of Foreign Affairs of Japan, the negotiation of Japan’s international investment agreements, including the investment and trade in services chapters of the Trans-Pacific Partnership, the Japan–EU EPA, the ASEAN–Japan Comprehensive Economic Partnership, the Japan–Australia EPA, the Japan-Mongolia EPA, and the Japan–Mozambique BIT.

He received an LLM in international law from University College London.