Activities of Manon AUBRY related to 2018/0358M(NLE)
Shadow opinions (1)
OPINION on the draft Council decision on the conclusion, on behalf of the Union, of the Investment Protection Agreement between the European Union and its Member States, of the one part, and the Socialist Republic of Vietnam, of the other part
Amendments (4)
Amendment 1 #
Draft opinion
Recital A (new)
Recital A (new)
A. whereas the last decades have seen billion-dollar investor lawsuits against the alleged damage to corporate profit of legislation and government measures in the public interest. Whereas according to UNCTAD, the new ISDS cases in 2018 were initiated against 41 countries and as in previous years, the majority of new cases were brought against developing countries and transition economies. Developed-country investors brought most of the 71 known cases. Whereas ISDS has already been used in Vietnam, and actually, two companies are suing the Vietnamese government for receiving a tax bill after the takeover of one company (ConocoPhillips Vietnam) by another (Perenco)
Amendment 3 #
Draft opinion
Paragraph 1
Paragraph 1
1. Welcomes the Parties’ commitment to enhance the contribution of trade and investment to the goal of sustainable development in its economic, social and environmental dimensions; Acknowledges that the Investment Court System marks an improvement from the existing Bilateral Investment Treaties between 21 EU Member States and Vietnam with regard to the independence of judgesAcknowledges that the Investment Court System will replace the existing Bilateral Investment Treaties between 21 EU Member States and Vietnam with regard to ISDS mechanisms. Recalls that the ICS still remain an investment arbitration system and continues to give a privileged status to investors, and does not provide a sanction mechanism for investors non-compliance with social and environmental standard;
Amendment 9 #
Draft opinion
Paragraph 2
Paragraph 2
2. WelcomAcknowledges the use of the transparency rules of the United Nations Commission on International Trade Law (UNCITRAL) for dispute settlement, but underlines that the use of substantive provisions of foreign investment protection, in particular the principles of ‘indirect expropriation’ and of ‘fair and equitable treatment’, does notcan weaken the Parties’ right to regulate and pursue legitimate public policy objectives, such as public health, education, labour rights, safety and environmental protection; insists on regular monitoring and reporting back to the European Parliament on the use of this provision by European investors;
Amendment 16 #
Draft opinion
Paragraph 4 (new)
Paragraph 4 (new)
4. Calls for the abolition of all kind of arbitrations system in the Investment treaties that allow companies and investors to sue governments if new legislation and regulations for public interests undercut their ability to make profits;