Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-04-04-Speech-1-273-000"
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"en.20110404.23.1-273-000"2
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"Madam President, the Commission welcomes Parliament’s report on the future European international investment policy. It is an important step that paves the way for the implementation of the new EU exclusive competence on investment.
As you know, investment is a new frontier for the common commercial policy. We should seize the opportunity – we are in absolute agreement with Parliament on this – to build together an integrated and coherent investment policy that promotes investments and makes a positive contribution both to economic growth and sustainable development.
The Commission also fully shares Parliament’s statement that investor protection should remain the first priority of the European investment policy. We believe that the new policy should serve the purpose of assuring all European investors that they are able to operate in an open and properly and fairly regulated business environment, not only within the internal market, but also when operating in third countries.
I also take note of Parliament’s recommendation that the EU should draw on Member States’ best practices found in their bilateral investment treaties. Indeed, the thrust of the Union’s action in this area should be to deliver better results than those obtained by Member States individually.
While aiming at high levels of protection for our investors, we should not compromise other objectives, such as the public capacity to regulate or coherence with other EU policies. The right of states and of the EU to take the measures necessary to achieve legitimate public policy objectives is a standing rule of the common commercial policy. It will equally apply to our investment policy.
The dispute settlement regime and the related financial responsibility are also very important issues and we need to further reflect on them. Our objective, as mentioned in the communication, is to ensure transparency, consistency of rulings and make the system as productive as possible. We also need to address a number of issues which arise because of the EU’s status under international law. We will take into account Parliament’s views, as expressed in the report, when we analyse possible options and further ideas for a comprehensive approach to these issues.
We will carefully consider all recommendations put forward in Parliament’s report, while progressively developing and implementing our investment policy. The Commission has already tabled proposals for investment negotiating directives for Canada, India and Singapore. We want to seize opportunities for ongoing wider trade negotiations and to engage in comprehensive investment negotiations with those countries. Parliament’s opinion is therefore very timely, to guide the Commission and the Council when we define final respective negotiation directives.
Last but not least, I would like to assure you that, as the development of a comprehensive European investment policy is now a joint responsibility of all the institutions, the Commission will stand ready to cooperate with Parliament and the Council while respecting the division of competences among all the institutions involved."@en1
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