The German and European Socialists want to limit investor protection in transatlantic free trade agreements. In a paper that has been discussed over the weekend at a conference of Social Democratic Party and Government in Madrid, are “new principles for a modernized investment protection system” is required.
abuse is therefore a stop to advanced. Not yet ratified the agreement between the EU and Canada (Ceta) should be amended accordingly. SPD parliamentary leader Thomas Oppermann expressed optimism that this is still possible. “I am (…) confident that we will achieve progress in investor-state arbitration.”
The arbitration proceedings (ISDS), which disputes between companies and companies and countries are settled out of court, are one of the major sticking points in the target agreements with Canada and the United States (TTIP).
SPD and business will discuss free trade
The SPD-Left have Economy Minister and party leader Sigmar Gabriel criticized because it emphasized in November that this issue will not be deleted from the Ceta Agreement could. Gabriel but even concern and calls on the search for alternatives.
On Monday, discussing both the SPD and peak business associations at conferences in Berlin on the subject of free trade. Investors should under the EU Social Democrats view can not be expected that only in deference to profit expectations remain under legislative changes. Arbitration in Ceta Agreement is accepted in principle by the Social Democrats. However, a new “arbitration mechanism” is mentioned, in the form of a Trade and Investment court.
Appeals against decisions should be possible. “We urge that States Parties still have the full right to interpret the standards of protection of an agreement, even after it has entered into force,” says the paper on. Foreign investors should not be treated better than domestic ones within the EU
Oppermann. Substantive debate is important
Oppermann said: “We do not want the democratic legislature by arbitration in its ability to act will be affected. ” Why should government policies that companies are not discriminated against, not be settled in private arbitration.
The Ceta Agreement’m already in the right direction. “The text provides that the ‘right to regulate’ must not be affected to pursue legitimate goals such as health, environmental protection, public safety and order and the promotion and protection of cultural diversity,” said Opperman.
Looking to criticism of Ceta and TTIP the faction leader warned of an informed debate. “It is important to me that we do not conduct public scaremongering,” he said. German Chancellor Angela Merkel (CDU) had recently promised that environmental and consumer protection standards would not be affected by TTIP. Oppermann was at its principal support for transatlantic free trade agreements no doubt. He announced that his party would decide its position in the summer when all negotiation results are available. (Reuters)