Monday, February 29, 2016

TTIP blueprint Ceta: Commercial Court for investor protection – SPIEGEL ONLINE

The FTA Ceta between the EU and Canada is considered a blueprint for the disputed TTIP agreement with the US. According closely follow critic which arrangements are made in Ceta Treaty. Now the EU and Canada have agreed on the long-disputed investor protection in the common trade agreements.

To meet the objections of critics, would create a new Commercial Court and they offer more openness, said the European Commissioner Cecilia Malmström. The Brussels authorities contributes to changes in investor protection the criticism of the present system of dispute settlement account and wants to increase the acceptance of the proposed TTIP agreement. In Ceta, the partners of the conventional, very transparent system of private arbitration to solve. Critics have long far-reaching remedies for corporations.

All the essential elements of an amended scheme were included in the final version of Ceta, the Commission informed. “The new system is like an international court work, so citizens can rely on a fair and objective judgments”, Malmström

disputes between investors and states to be accordingly in future negotiated and decided on a new commercial court said. , Also vocations should be possible. The EU countries and the European Parliament must approve the Ceta Treaty nor. The European Commission intends to take a formal decision on the agreement in the spring. In June, the text should then go to the 28 Member States for approval. “We are confident that Ceta is signed 2016 and 2017 to come into force”, shared Malmström and the Canadian Trade Minister Chrystia Freeland

Open together with. Go amendments do not go far enough

negotiations on Ceta had actually been completed already, 2014. Because of the massive public criticism against the TTIP agreement between the EU and the US, the question of investment protection has been remedied even in the Canadian agreement again. Critics had warned that companies sue over an opaque parallel justice in the form of arbitration states and governments, thus preventing about unwelcome legislation could.

The European Commission thereupon in autumn its new approach, which is also in the TTIP agreement with the US is to be installed. Essentially, it is the protection of investors to hedge foreign companies before nationalization and other unfair treatment in the host country.

The Greens criticized that the Commission had at Ceta Agreement “only procedural changes” enforced, for example, in the judge selection. “Unilateral actions against democratic decisions are still possible and endanger our democratic system,” said the Greens MEP Ska Keller.

The Chairman of the Trade Committee at the European Parliament, Bernd Lange (SPD), spoke of a significant improvement in investment protection. It should be stipulated that new and amended legislation and the allocation or reduction of aid was no plea. The referee would also provided by the States and no longer selected by the company.

Ceta ( “comprehensive economic and trade agreement”) aims to boost trade between the EU and Canada. The agreement will eliminate 99 percent of tariffs according to the EU Commission. Discharge for EU exporters thus amounts to around 470 million euros a year. In Canada public procurement markets for European companies to be opened. Also protected are 145 appellations, from Parma to the Black Forest ham. The Commission represents the EU in international trade policy.

TTIP – finally understood


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