In a move to make the EU's trade policy the most transparent and inclusive in the world, the Commission has decided to set up an Advisory Group on EU trade agreements and to publish as of today any new proposal for negotiating mandates. Finally, today's proposals include a draft mandate to start negotiations towards the creation of a multilateral investment court. [...]
The key elements of the package are:
-
A proposal for a European framework to screen foreign direct investment. It will ensure that foreign investment remains a major source of growth in the EU while protecting the EU's essential interests. The legislative proposal is accompanied by a set of further measures that take immediate effect. These are detailed in a dedicated Communication outlining the strategic need for such a screening.
-
Recommendations to the Council to open negotiations for trade agreements with Australia and New Zealand. These agreements would build on the recent successful agreements with Canada, Vietnam, Singapore as well as Japan among others, expanding the alliance of partners committed to progressive rules for global trade.
-
A recommendation to the Council to open negotiations to establish a multilateral court for the settlement of investment disputes. This major innovation in global governance would be yet another step towards a more transparent, coherent and fair approach to deal with company complaints under investment protection agreements.
-
Unprecedented transparency: With the publication of the draft mandates for bilateral trade agreements with Australia and New Zealand, and for a multilateral agreement on investment dispute settlement, the Commission has decided to publish as of now all its recommendations for negotiating directives for trade agreements (known as negotiating mandates). When they are submitted to the European Parliament and the Council, those documents will in parallel be sent automatically to all national Parliaments and will be made available to the general public. This should allow for a wide and inclusive debate on the planned agreements from the start. The Commission asks Member States to ensure the involvement of the relevant national and regional stakeholders in trade talks at the earliest possible stage.
-
The creation of an Advisory Group on EU trade agreements. The group will allow the Commission to engage with civil society and gather more easily different perspectives and insights from a wide and balanced group of stakeholders, ranging from trade unions, employers' organisations, consumer groups and other non-governmental organisations. The creation of this Group is a continuation of the Commissions' efforts to make trade policy even more transparent and inclusive.
Communication: A balanced and progressive trade policy to harness globalisation
"Trade for all" implementation report
Press release on investment screening
Factsheet on investment screening
Draft mandate for negotiations with Australia
Draft mandate for negotiations with New Zealand
Factsheet on future negotiations with Australia and New Zealand
Draft mandate for negotiations to create a multilateral investment court
Factsheet on future negotiations for a multilateral investment court
© European Commission
Key
Hover over the blue highlighted
text to view the acronym meaning
Hover
over these icons for more information
Comments:
No Comments for this Article