On May 3rd of 2017, the Plenary of the National Assembly approved to continue with the denunciation of twelve Bilateral Investment Treaties ("BITs") currently in force. The BITs denunciated by the Legislative Branch are with the following countries: Switzerland, Chile, Spain, Netherlands, Italy, Canada, Argentina, United States, Peru, Bolivia, China and Venezuela.
In order to complete the denunciation process of each BIT, it is necessary to fulfill the process stated in each of the treaties and local law. Generally, the Executive Branch is expected to proceed with the treaty denunciation process, as per each treaty and the Constitution of Ecuador.
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