EP opposition to TTIP arbitration on the rise
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.