Assessing the Pros and Cons of Ratification of ICSID Convention for Ethiopia
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Date
2022-09
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Addis Ababa University
Abstract
ICSID was formed as a center for the resolution of investment disputes by the Convention on the
Settlement of Investment Disputes between States and Nationals of Other States. On October 14,
1966, the Convention came into effect after being approved by 20 countries. 143 states had rati fied the Convention as of April 10, 2006, making them the Contracting States. Although Ethiopia
has signed the ICSID convention, it has not yet been ratified. However, because several of Ethi opia's BITs accepted submission to the jurisdiction of ICSID and its additional facilities, ICSID
mechanisms will affect Ethiopia. As a result, it is necessary to examine the cost and benefit of
ratification of the ICSID convention for Ethiopia. As a result, it is necessary to look into the ef fects of recourse to the ICSID jurisdiction without ratifying the ICSID Convention. To assess the
possible consequences of Ethiopia’s ratification of the ICSID Convention, relevant bits of the
country that acknowledge the Center's jurisdiction are examined. To achieve most of the poten tial advantages and reduce any potential drawbacks the Convention may encounter if investment
disputes based on the BITS arise in the future, the study critically evaluates the prospects and
difficulties of Ethiopia's ratification of the ICSID convention.