The communist government of Gustavo Petro decided to remove Colombia from international investment arbitration mechanisms, a measure that raises strong concerns in the economic and business spheres. Far from being a legal technicality, the decision directly impacts the confidence of foreign investors and the predictability of the rules of the
game.The international arbitration system, widely used in bilateral investment treaties, allows companies and States to resolve disputes outside local courts, offering guarantees of impartiality and legal security. Their abandonment, on the other hand, leaves investors exposed to national judicial systems that often lack independence or speed, especially in countries with high political volatility
.
From the Colombian ruling party, the measure is presented as a defense of national sovereignty against alleged abuses by multinational corporations. However, this narrative omits a key point: without reliable conflict resolution mechanisms, foreign capital tends to retreat. In a context where Colombia needs to attract investment to sustain growth and generate employment, the message sent by the government is, to say the least, contradictory
