[A2k] Politico Europe: EU TTIP chief negotiator: ISDS proposal being finalized

Thiru Balasubramaniam thiru at keionline.org
Wed Jul 22 02:32:46 PDT 2015


<SNIP>

“We would be aiming to put forward a proposal to the United States
that is different from the existing ISDS [investor-state dispute
settlement] regime,” Ignacio Garcia Bercero, the EU chief TTIP
negotiator, told reporters in Brussels at the end of the 10th round of
talks on the proposed pact.

--

http://www.politico.eu/article/eu-ttip-chief-negotiator-isds-proposal-being-finalized/

EU TTIP chief negotiator: ISDS proposal being finalized

Critics say the ISDS procedure undermines the right of governments to regulate.

By DOUG PALMER


17/7/15, 7:58 PM CET

The European Union will soon give the United States a formal proposal
for revamping an investment dispute settlement mechanism that has
raised concerns in Europe over the proposed Transatlantic Trade and
Investment Partnership pact.

“We would be aiming to put forward a proposal to the United States
that is different from the existing ISDS [investor-state dispute
settlement] regime,” Ignacio Garcia Bercero, the EU chief TTIP
negotiator, told reporters in Brussels at the end of the 10th round of
talks on the proposed pact.

Opponents of the TTIP agreement have criticized the ISDS procedure
included in many free trade and investment pacts because it allows
private corporations to sue against government actions that damage
their investments. They say it undermines the right of governments to
regulate.

The European public furor has blocked TTIP investment negotiations for
more than a  year while the EU undertook a public consultation on the
issue. With that completed, “we very much believe that it should be
possible for us to engage in a good discussion with United States,
hoping to achieve a good outcome satisfactory for both sides,” Garcia
Bercero said.

Chief U.S. negotiator Dan Mullaney said he expected to receive the
EU’s proposal in the “very near future,” although no specific date was
mentioned. He said the United States has already revamped its ISDS
system in a way “that we think address some of the same concerns that
have been raised here: impartiality and the right of regulators to
regulate in the public interest.”

Garcia Bercero said the European Commission would consult further with
EU member states and the parliament as it finalizes its proposal.

Authors:

Doug Palmer




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