By Monika Ermert for Intellectual Property Watch
EU Trade Commissioner Cecilia Malmström today published a concept paper on investor-state dispute settlement (ISDS) mechanisms to be included in the Trans-Atlantic Trade and Investment Partnership (TTIP).
The Commissioner offers additional measures to appease the growing criticism with regard to ISDS and also commits to working on a “permanent multilateral international court”.
The German Vice Chancellor earlier this week called for such an official court to decide investor-state dispute cases. Malmström wrote that she considers a multilateral court to be a “medium term solution”.
In her new concept paper to be discussed with the European Parliament’s Trade Committee tomorrow and the member states’ responsible ministers on Thursday, she offers additional measures to enhance what had already been reached in the EU-Canada Comprehensive Economic and Trade Agreement (CETA) and EU Singapore free trade agreement.
The measures include an “operational provision” on the governments right to regulate, a pre-established roster of arbitrators who must be “qualified to hold judicial office”, a “right to intervene” for third parties, and a bilateral appellate mechanism, according to her paper.
The Austrian Chancellor Werner Faymann today called for completely removing ISDS not only from TTIP, but also from CETA.
Malmström’s blogpost is here.