EN - Results of the public #consultation on #investment protection and investor-to-state dispute settlement (#ISDS) in #TTIP: press conference by Cecilia Malmström, Member of the EC in charge of Trade - Full Version (including Q&A) - 13.01: The key questions in this whole exercise was whether the EUs approach to ISDS would strike the right balance between on the one side protecting investors and safeguarding on the other hand the ability to regulate in the public interest. We also asked questions about the transparency of ISDS proceedings, the rule of arbitrators and an appeal spot. We received a very large number of replies. I think this is the biggest consultation ever done in the Commission. (...) Some view the EUs approach is insufficient for providing guarantees for the right to regulate. Others caution against not lowering the protection for investors too much. Second, how ISDS tribunals can operate in practise and how their function is supervised. This includes also how avoiding arbitrators having a conflict of interest. Third, the relationship between domestic judicial systems and ISDS. For example, the national courts. Fourth, the possible use of an appeal spot, the so-called applet mechanism to review ISDS decision. (...) The TTIP that the Commission will propose, it will be an agreement that strengthens Europes interests in the world that will help us protect our high standards, an agreement that is good for the citizens, good for growth and jobs in the EU. The ISDS debate is an important part of this debate, it is a delicate matter and we need to proceed with caution. (...) In order to respond to some other criticism that is around ISDS and TTIP we have decided in the Commission to increase transparency and to demystify as much as possible. As from last week, many proposals, many legal texts, position papers and explanatory chapters are online for everybody to see and I hope that this will feed into the debate of facts and figures of what is being discussed and what is not. (...) © Frédérick Moulin 2015 - EU2015 - All rights reserved.
Posted on: Sat, 17 Jan 2015 10:24:21 +0000
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