TTIP: European Parliament takes into account BVMW's concerns
Good news from the European Parliament: During its plenary session of last wednesday, July 8th, the parliamentary majority of EPP, ALDE and S&D approved the recommendations of the EP to the Commission for the ongoing TTIP negotiations with the US.
A key point that BVMW has repeatedly critized as unfair competition conditions, the Investor-State Dispute Settlement procedure (ISDS), has been asked by the Parliament to be replaced by a system that: "is subject to democratic principles and scrutiny, where potential cases are treated in a transparent manner by publicly appointed, independent professional judges in public hearings and which includes an appellate mechanism, where consistency of judicial decisions is ensured, the jurisdiction of courts of the EU and of the Member States is respected, and where private interests cannot undermine public policy objectives".
This means, that the European Commission should introduce this chapter into the negotiations with the US, and try to find a solution that can comply with the criteria mentioned above. If this should become reality, one of the most controverse points in TTIP negotiations, would be solved.
The Parliament indicated also various quite detailed criteria for regulatory cooperation between the EU and the US, which should safeguard a certain autonomy in regulatory policy making of the EU and its member states, though provide for a step-by-step closer and more efficient as well as cost-effective regulatory cooperation, especially in the field of new technologies and products.
In sum, the activity of BVMW (with the support of European Entrepreneurs CEA-PME) to safeguard the interests of European SME's in the TTIP, is producing it's first fruits, given that even the EU-Commissioner for Foreign Trade, Mrs. Malmström, has recently made proposals to go into the direction of the recommendations of the EP, as now officially formulated.
Stay tuned to know about further developments!
(Photo above: TTIP Rapporteur Bernd Lange (S&D, DE), © EU 2015 - European Parliament)
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