In the wake of recent shifts towards increased transparency in investor-state arbitration, many arbitral stakeholders question the extent to which this shift will impact international commercial arbitrations. The demand for increased transparency in investor-state arbitral disputes is reasonable. These disputes, which often involve the government and other public bodies, are viewed as too important to be arbitrated in secret, particularly given their potential impact on a contracting state’s population and its public policies. In such cases, the parties’ interests in preserving privacy and confidentiality are generally outweighed by the general public interest’s demand for openness.
This is certainly not always the case for the vast majority of international commercial arbitrations. In reality, almost all commercial cases are of no interest to the wider public. Some might be of interest to the relevant industry and many may well be of interest to the parties’ competitors. But the general public interest is rarely triggered in these private, commercial disputes.
Why, then, is increased transparency in international commercial arbitrations on the minds of arbitral stakeholders across the globe?
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