EP op­po­si­tion to TTIP ar­bi­tra­tion on the rise

Financial Mirror (Cyprus) - - FRONT PAGE -

Half the Euro­pean Par­lia­ment’s com­mit­tees have re­jected the Transat­lantic Trade and In­vest­ment Part­ner­ship’s (TTIP) in­vestor-state dis­pute set­tle­ment mech­a­nism (ISDS), cast­ing doubt over the trade deal’s prospects of to pass­ing through Par­lia­ment. EurAc­tiv France re­ported.

MEPs hard­ened their po­si­tion on TTIP in the run-up to the ninth round of ne­go­ti­a­tions be­tween the EU and the United States, which are tak­ing place this week in New York.

On April 14 and 16, six of the 14 par­lia­men­tary com­mit­tees in­volved in draft­ing the Euro­pean Par­lia­ment’s res­o­lu­tion on the trade deal passed draft opin­ions re­ject­ing the ar­bi­tra­tion clause that is cur­rently part of the deal.

Op­po­si­tion to TTIP among the Euro­pean par­lia­men­tar­i­ans, par­tic­u­larly to the pro­posed ar­bi­tra­tion sys­tem, ap­pears to be strength­en­ing, with crit­i­cism crys­tallis­ing around ISDS. The mech­a­nism is de­signed to pro­tect in­vest­ments by giv­ing ac­cess to ar­bi­tra­tion tri­bunals in the event of a con­flict be­tween a pri­vate com­pany and a state. Yan­nick Jadot, a Green MEP and vice-pres­i­dent of the In­ter­na­tional Trade Com­mit­tee, wel­comed the fact that “half of the Euro­pean Par­lia­ment Com­mit­tees that gave their opin­ion re­jected the ISDS mech­a­nism”.

The com­mit­tees on Eco­nomic and Mon­e­tary Af­fairs, Legal Af­fairs, Em­ploy­ment, En­vi­ron­ment, Pe­ti­tions and Con­sti­tu­tional Af­fairs all adopted draft opin­ions op­pos­ing the ar­bi­tra­tion mech­a­nism, de­spite the Euro­pean Peo­ple’s Party’s (EPP) dom­i­nance of the Par­lia­ment, and its po­si­tion in favour of both TTIP and the ar­bi­tra­tion clause.

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