Uruguay: Hearings on PMI Tobacco-law Challenge

Source from:  Tobacco Journal  02/06/2013

Philip Morris International's (PMI) challenge of Uruguay's tobacco laws will go before an international arbitration body in Paris this week, Agence France-Presse (AFP) reported.
 
The International Centre for Settlement of Investment Disputes (ICSID) will hear arguments by the tobacco company that strict anti-smoking laws violate a bilateral investment agreement and are harmful to PMI. Uruguay is considered a world leader in anti-tobacco legislation. In 2011, PMI closed its Uruguay plant and moved production to Argentina.

ICSID is an arbitration body set up under auspices of the World Bank. An initial ruling is not expected before May, AFP reported. Enditem