Hildegarde Naughton (Fine Gael) | Oireachtas source

Along with other groups and agencies, such as the Galway chamber, I am very much in favour of TTIP. As has been highlighted here by contributors, there are some understandable concerns around the ISDS mechanism. Parties to the treaty all operate transparent and independent legal systems. I am just not convinced on allowing investors to take legal action in the domestic courts. I would like to know the Minister's views on incorporating the treaty into our domestic legislation. Currently, there are very good trade relations between the EU and US. Everyone would wish that to continue. It is happening currently without the ISDS mechanism, and we can improve those relations by way of the proposed treaty and still not have a system whereby investors can, over the heads of states, take legal action internationally.

As with any treaty, there are often unforeseen consequences. I take the point that we are currently in negotiations. This is a critical time in which to ensure that if an ISDS provision is put in place, the system will be drafted in a watertight fashion. That is a clear message. I acknowledge that the Minister has outlined it but it is important that we have safeguards and ensure the arrangement is of benefit to Ireland also.