Reform of the Investor-State Dispute Settlement System: EC Announces Public Consultation
The European Commission recently announced that a public consultation will take place for the investor-state dispute settlement system of the Transatlantic Trade and Investment Partnership (TTIP). The results will be published in early March.
The EU Trade Commissioner Karel De Gucht said: “Governments must always be free to regulate so they can protect people and the environment. But they must also find the right balance and treat investors fairly, so they can attract investment. International investment agreements like TTIP should ensure they do both. But some existing arrangements have caused problems in practice, allowing companies to exploit loopholes where the legal text has been vague. I know some people in Europe have genuine concerns about this part of the EU-US deal. Now I want them to have their say. I have been tasked by the EU Member States to fix the problems that exist in current investment arrangements and I’m determined to make the investment protection system more transparent and impartial, and to close these legal loopholes once and for all. TTIP will firmly uphold EU member states’ right to regulate in the public interest.”
For the press release please follow the link.
Source: EC Trade