Socialists and Democrats restate objection to private tribunals in trade deals

EU-US Transatlantic Trade and Investment Partnership (TTIP).

Today the Socialist and Democrats (S&D) Group in the European Parliament adopted a very strong position paper on Investor-State Dispute Settlements (ISDS), opposing the inclusion of the controversial mechanism in trade deals with both the US (TTIP) and Canada (CETA).
S&D spokesperson on trade David Martin MEP said:
"Today the Socialists and Democrats are responding to the thousands of constituents and the many civil society organisations that have raised their concerns.
"We reiterate our objection to ISDS in TTIP.
"We have opened a window for the Commission to radically improve the ISDS chapter in CETA to avoid its rejection."
S&D MEP Bernd Lange, who chairs the international trade committee in the European Parliament and is also the author of the parliamentary report on TTIP, added:
"The rule of law and independent courts must not be questioned in trade agreements. Opaque private arbitration can only benefit those looking to make a profit and has no place in trade agreements between fully fledged democracies.
"If the European Commission does not want to risk the failure of CETA and TTIP, it should take action and must take our group’s position into account. Otherwise there will be no majority for these agreements in the European Parliament.

"The initiative put forward by six social-democrat trade ministers in relation to CETA is a step in the right direction and should be taken up by the trade Council. Without substantial changes to the text, we will not ratify CETA."
Read the full position paper

Related documents 
S&D Position Paper on Investor-state dispute settlement mechanisms in ongoing trade negotiations