Activities of Dominique BILDE related to 2018/0358M(NLE)
Shadow opinions (1)
OPINION on the draft Council decision on the conclusion, on behalf of the Union, of the Investment Protection Agreement between the European Union and its Member States, of the one part, and the Socialist Republic of Vietnam, of the other part
Amendments (4)
Amendment 4 #
Draft opinion
Paragraph 1
Paragraph 1
1. WelcomUnderlines the Parties’ commitment to enhance the contribution of trade and investment to the goal of sustainable development in its economic, social and environmental dimensions and social dimensions, particularly with regard to international labour law resulting from the core conventions adopted by the International Labour Organisation, and in its environmental dimensions, in particular measures to combat deforestation and illegal fishing; acknowledges that the Investment Court System marks an improvement from the existing Bilateral Investment Treaties between 21 EU Member States and Vietnam with regard to the independence of judges;
Amendment 5 #
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Expresses its general concern at the increasing inclusion in recent EU free trade agreements of arbitration clauses referring to a specific court; stresses that such arrangements must be confined to cases involving the possibility of manifest and serious abuses and must not be allowed to compromise the sovereignty of the Member States;
Amendment 10 #
Draft opinion
Paragraph 2
Paragraph 2
2. Welcomes the use of the transparency rules of the United Nations Commission on International Trade Law (UNCITRAL) for dispute settlement, but underlines that the use of substantive provisions of foreign investment protection, in particular the principles of ‘indirect expropriation’ and of ‘fair and equitable treatment’, does not weaken the Parties’ right to regulate and pursue legitimate public policy objectives, such as public health, safety and environmental protecparticularly but not exclusively public health, safety and, generally speaking, any legitimate objectives relating to public order and environmental protection, while providing foreign investors with a certain degree of legal protection, specifically against expropriation; insists on regular monitoring and reporting back to the European Parliament on the use of this provision by European investors;
Amendment 13 #
Draft opinion
Paragraph 3
Paragraph 3
3. Notes that protections afforded to investors could possibly outpace the development of investor responsibilities as the EU-Vietnam Investment Protection Agreement (IPA) guarantees enforceable rights to foreign investors through the arbitration clause, but does not provide a sanction mechanism for non-compliance with social and environmental standards; reiterates the need to ensure a fair balance of investors’ rights and duties, in terms of corporate, social and environmental standards and human rights in general, in the IPA; underlines in this regard the importance of establishing an independent monitoring and complaint mechanism that can be seized by affected populations and that has the authority to make binding rulings with regard to the negative impact that trade and investment agreements may have and stresses the need to keep the European Parliament informed of action taken through this mechanism in response to complaints concerning investors with registered offices in any of the Member States.