Brendan Howlin (Wexford, Labour) | Oireachtas source

The visit yesterday of the Canadian Prime Minister, Mr. Trudeau, was an important one. While socks and jogging might have captured the headlines, it seems clear from Prime Minister Trudeau's comments that he was here for one specific reason, building support for the free trade agreement between Canada and the European Union, CETA. Like most Members of this House, I understand the benefits of globalised trade. Such trade has reduced global poverty and has enriched many lives and brought people back to work. We must also be aware of the negative impacts of globalisation, however. CETA has been a long time coming. It is welcome that it proposes to replace investor-state dispute settlements, which were secretive arbitration panels that allowed investors to challenge government regulation behind closed doors. The Japan-EU deal has been grappling with this exact issue. While a move away from the existing model may be welcome, replacing it with investment courts does not go nearly far enough.

The proposed courts are not transparent and they pay little attention to democratic politics or the right of individual countries to regulate in their own national interest. As a country, we have suffered immensely as a result of light touch regulation, or deregulation. The banking crisis and much of the shoddy building work in this State over the last 20 years are testament to that. Therefore, we have more reason than most to question any structures that would allow investors or companies to challenge the robust regulation we now have. As The Financial Times- no bastion of left-wing thinking - has pointed out, in highly developed legal systems, including those of the EU, Canada and Japan, there is really no need for a separate adjudication forum for investors. Therefore, there is much political reason to insist on our own domestic courts. Japan, Canada and the EU should be comfortable with the national courts making decisions where conflicts arise, in particular given the presence of international treaty obligations of non-discriminatory treatments for investors and companies.

Several months have now passed since the Seanad voted for a variety of reasons against the ratification of the Comprehensive Economic and Trade Agreement, CETA. Can the Taoiseach indicate the view of Government on the vote of the Seanad in the first instance and can he tell the House when he will bring the agreement for formal decision and ratification before the House?

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