Ghana is pursuing the opportunity to host the Advisory Centre on International Investment Law, Mr Samuel Okudzeto Ablakwa, the Foreign Affairs Minister, has said.

The Minister disclosed in a statement read on his behalf by Mr Ramses Joseph Cleland, the Chief Director of the Ministry of Foreign Affairs at the opening of the Meeting of the United Nations Commission on International Trade Law (UNCITRAL) Working Group III Negotiations Investor-State Dispute Settlement (ISDS) Session in Accra.

The Foreign Affairs Ministry is organizing the meeting in collaboration with UNCITRAL, the International Shareholders of the Commonwealth Secretariat (COMSEC), the Organisation Internationale de la Francophonie (OIF), and the African Continental Free Trade Area (AfCFTA) Secretariat.

“We firmly believe that hosting this centre in Accra would create seamless synergies between the AfCFTA Secretariat and provide African countries with a crucial institutional mechanism to enhance legal and technical expertise in handling ISDS cases,” Mr Ablakwa said.

He said hosting the Advisory Centre would bring multiple benefits, including strengthening the capacity of African states to navigate complex international investment disputes, and reducing costly arbitration expenses and ensuring fair outcomes for African governments, enhancing Africa’s legal and institutional framework to manage foreign investments effectively.

He said it would also reinforce Ghana’s reputation as a hub for international trade and investment dispute resolution.

The Minister said to achieve this goal, Ghana was committed to providing the necessary infrastructure, expertise and diplomatic support to ensure the centre’s success.

“We therefore make a passionate appeal to our partners around the globe, the African Union, the UNCITRAL Secretariat, AfCFTA and other stakeholders to support Ghana’s bid to host this prestigious institution.”

He said considering that the Advisory Centre was an important reform element to assist developing countries to effectively handle their international investment disputes and also break the gap between developed and developing countries.

He encouraged all members of the African Union to become members of the Advisory Centre once it was operationalised.

Mr Ablakwa said the Centre would enable members to access the legal and technical expertise of the centre for the benefit of their people.

On the ongoing UNCITRAL Working Group III Negotiations ISDS Session in Accra, Mr Ablakwa pointed out that it was critical as it reaffirms their collective commitment to protecting Africa’s interests in international investment law and dispute resolution.

He reiterated that Ghana had long been an active and committed participant in the UNCITRAL, advocating for a fair, balanced and transparent international investment dispute system that aligns with Africa’s economic development aspirations.

He said their engagement in Working Group Three over the past years reflects their strong dedication to ensuring that ISDS reforms adequately address the concerns of developing and least developed countries, particularly in Africa; adding that as a result, the importance of the Accra meeting could not be overstated.

He said it was important for African countries to consolidate their positions and ensure that the reform process under UNCITRAL aligns with the AfCFTA protocol on investment, while strengthening our ability to foster a more predictable and equitable investment environment.

“Let us continue to advocate reforms that serve our collective interests, foster unity and create a dispute resolution framework that upholds justice, equity, sustainability and economic development,” he said.

Madam Matilda Aku Alomatu Osei-Agyeman, Permanent Representative of Ghana to the United Nations (Vienna), said the outcomes of the Accra Meeting would be instrumental in securing a fair, balanced and efficient dispute resolution framework that fosters investor confidence while safeguarding the sovereignty and developmental aspirations of their countries.

Madam Anna Joubin-Bret, UNCITRAL Secretary, said they had just left behind them 60 years of one set of rules and a rules-based order.

“We’re turning towards something which is a bit of an unknown, but also with a lot of parameters that we know very well, and so it’s, I would say, not only a challenge for us legal people, but it’s also a challenge in building something that would withstand the passage of time and be hopefully as fit for purpose in 60 years as it is when we put it on the table.”

Wamkele Mene, Secretary-General, AfCFTA Secretariat, in a statement read on his behalf said the Accra Meeting represents a crucial step in consolidating Africa’s voice and advancing the interests at the UNCITRAL and ensuring that the ongoing reform process aligns with aspirations of the AfCFTA protocol on investment.