Paul Murphy (Dublin South West, Socialist Party)
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92. To ask the Minister for Jobs, Enterprise and Innovation if the reformed approach advocated by the European Union for investment protection in the Transatlantic Trade and Investment Partnership negotiations changes the fundamentals of an approach which enshrines corporate access to justice ahead of that of ordinary citizens. [41853/15]

Richard Bruton (Dublin North Central, Fine Gael)
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The EU Commission’s mandate to negotiate with the U.S. also includes in its scope, investment protection. This is designed to ensure that Irish and EU enterprises trading into 50 different US States will not face unfair discrimination in any particular State where the legal code may not fully transpose elements in the agreement. Equally US investors in the EU expect common investment protection standards and common redress mechanisms, and not 28 different set of standards and 28 different redress procedures.

The mandate makes it clear that the inclusion of investment protection will depend on EU interests being met and on the final balance in the Agreement. Importantly, the mandate states that the objectives of any investment protection provisions would be without prejudice to the right of EU and the Member States to adopt and enforce measures necessary to pursue legitimate public policy objectives for the protection of citizens in a non-discriminatory manner.

While no negotiation has commenced on such a mechanism the model which the European Union has developed of Dispute Settlement provides:

- It can only be invoked where there is targeted discrimination on manifestly unfair ground, or a fundamental breach of fair process.

- Adjudicators must be approved by Governments and be from among persons qualified to be judges.

- Procedures must be transparent.

- There will be an independent appeal process.

- It must respect and protect the right of governments to regulate.

In addition, the EU Commission has published and formally presented to the US its proposal for a new and more transparent system for resolving disputes between investors and states – the Investment Court System. This proposal is the outcome of a lengthy public consultation process with the Member States, the European Parliament, stakeholders and the public.

This European position is taking the opportunity to create a new generation Investment Protection model that addresses the weaknesses identified in older Bilateral Investment Agreements.

On 8 July 2015 the European Parliament voted for a resolution supporting the EU-US Trade Agreement including a reformed investment protection mechanism.

I welcome these improvements and the Commission’s efforts to follow up on the views expressed by Member States, the European Parliament and other stakeholders.