The European Parliament voted in favor of TTIP recommendations for EU negotiators during its plenary session yesterday.
This Week in a Nutshell
The European Parliament voted yesterday to approve a set of recommendations for the EU’s negotiating position on TTIP. Calling for an end to the old investor-state dispute settlement (ISDS) system, which utilized private tribunals, MEPs overwhelmingly voted in favor of a new paradigm based on public courts.
Following a meeting with President Obama in Washington, Nguyen Phu Trong-leader of Vietnam’s ruling communist party-pledged to uphold the high standards of the Trans-Pacific Partnership (TPP) by carrying out the reforms necessary to meet the commitments relating to the 1998 ILO Declaration of Fundamental Principles and Rights at Work.
Speeches & Official Announcements
TTIP: Ease Access to US Market, Protect EU Standards, Reform Dispute Settlement
“Unprecedented globalization is under way and our citizens and businesses are right in the middle of it. As parliamentarians, it is our democratic duty to shape this process. If it is to work for the benefit of the people, then it cannot be left in the hands of the negotiators alone. That is why we have drafted this resolution and spelt out the principles for the kind of trade agreement we want the Commission to conclude.” – Bernd Lange
This press release outlines the principal recommendations that the European Parliament has sent to EU negotiators following yesterday’s plenary vote. The EP insists, for example, that the agreement should remove US restrictions on foreign ownership of transport services and airlines; improve EU access to US telecommunications markets; and achieve a “significant opening” of the US public procurement market at all levels of government. (European Parliament)
Read the TTIP text adopted in yesterday’s plenary session.
Statement by EU Trade Commissioner Cecilia Malmström on the European Parliament’s Vote on the TTIP Resolution
“Today’s vote in Parliament establishes a strong and forward-looking political platform as we continue our TTIP negotiations. That’s my urgent task in the months ahead, and it’s clear from today’s vote that only an ambitious, comprehensive and balanced agreement which demonstrably delivers jobs and growth in Europe will obtain democratic backing.” – Cecilia Malmström
In a press release following the Parliament’s vote on TTIP recommendations, EU Trade Commissioner Cecilia Malmström recognized the importance of the EP’s vote, which called for a “new system” of investor-state dispute settlement.. She vowed to press ahead and transform the recommendations into specific legal proposals, which she plans to present to US negotiators in the coming months. (European Commission)
News
European Parliament Seeks ISDS Curbs in U.S. Trade Pact
In yesterday’s plenary session of the European Parliament, MEPs called for limits on legal protection for foreign investors, stressing that any investment protection clause must ensure that foreign investors have no greater rights than domestic investors. The EP also urged negotiators to ensure that issues with ISDS do not scupper the entire agreement. (Bloomberg)
European Parliament Backs Key TTIP Compromise
The European Parliament voted yesterday 447-229 in favor of a compromise resolution to establish a public dispute settlement mechanism for investor-state disputes under TTIP. The resolution-similar to the one adopted by the Parliament’s International Trade Committee in May-rejects the older system of private tribunals and opens the possibility of an international trade court. (PoliticoEU)
TTIP Action Partner
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Recent Analysis
Yes to TTIP: If, and Only If, It Safeguards European Values and Standards
MEP Marlene Mizzi, who voted in favor of the EP’s resolution on TTIP negotiations, noted the importance of protecting European values with regard to consumer protection, food and healthy safety standards, as well as labor rights and public services. To that end, she has tabled a number of amendments to the Parliament position, one of which was an amendment asking the Commission to include a specific SME chapter to eliminate double certification requirements and establish a one-stop information system for SMEs. (Malta Independent)
Trade in Action
On Trade Promotion Authority (TPA) and the Trans-Pacific Partnership (TPP)
United States – Vietnam Joint Vision Statement
In a joint statement following a meeting between President Obama and Nguyen Phu Trong, leader of Vietnam’s ruling communist party, the US and Vietnam pledged to work closely to complete an ambitious TPP agreement and to carry out the reforms necessary to meet the commitments relating to the 1998 ILO Declaration of Fundamental Principles and Rights at Work. (White House)
Bringing New Trade Agreements to Life
In a recent Op-Ed, US Secretary of Commerce Penny Pritzker emphasized her department’s commitment to ensuring that US companies can take advantage of the tremendous market opportunities in free-trade agreements like the TPP. To that end, the Commerce Department plans to upgrade available market research on TPP countries and enhance its industry-specific expertise to ensure that US businesses have the data they need to compete. (Commerce Department)
Canada Pledges Support for ‘Powerhouse’ Pacific Trade Pact
Amid questions about its willingness to open up protected agricultural sectors in order to complete the TPP, the Canadian government has reiterated its support for the pacific trade deal. The country is under pressure to open up its dairy and poultry sectors, which are currently subject to production quotas and high import tariffs. (Bloomberg)
Upcoming Events
UK National Road Shows – June to December in the United Kingdom, hosted by the British American Business – More Information
TTIP Stakeholder Engagement Event, Round 10 – July 15 in Brussels, organized by the Directorate General for Trade of the European Commission – More Information
EU Digital Single Market Conference – September 15 in Brussels, hosted by the Trans-Atlantic Business Council – More Information