The study delves into the complex interplay between confidentiality and transparency in international commercial arbitration, particularly concerning state parties. It investigates the enduring principle of confidentiality, which has historically defined the arbitration process by safeguarding the privacy of the proceedings and the interests of the parties involved. However, this traditional cornerstone faces challenges from the increasing demands for transparency, especially in cases where public interest and state involvement are significant.
This research highlights the tensions between maintaining confidentiality to protect commercial secrets and fostering transparency to enhance democratic accountability and public trust. The focus is on how these conflicting needs affect the legal frameworks and arbitration practices, especially in scenarios where states partake in arbitration as hosts or participants in international investments. The study critically examines the legislative and judicial approaches to balancing these principles, drawing on comparative analysis and international norms.
The findings suggest that while confidentiality remains crucial for attracting foreign investment and ensuring efficient dispute resolution, transparency is equally important in scenarios involving public resources or state-related investments. The study proposes a nuanced approach to arbitration legislation and practices, advocating for legal reforms that accommodate confidentiality and transparency tailored to the specific nature of each dispute and the interests at stake.