President Rafael Correa has requested the termination of 13 bilateral investment treaties (BITs). The request was made to Ecuador's National Assembly, which is reportedly due to make a decision by 4 November 2009. Ecuador wishes to end its agreements with Finland, Sweden, Canada, China, Netherlands, Germany, France, the UK, Ireland, Argentina, Chile, Venezuela, Swiss and the US.

In 2008, Ecuador also withdrew from a number of BITs that it had entered into with other developing states, including El Salvador and Paraguay. In July 2009, Ecuador submitted a written notice of its denunciation of the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (ICSID Convention) (see Legal update, Ecuador withdraws from ICSID Convention). The denunciation will take effect on 7 January 2010.

We will continue to report on developments.