David Martin has called on the European Commission to come up with alternatives to the inclusion of the Investor-State Dispute Settlement (ISDS) in the Transatlantic Trade and Investment Partnership (TTIP).
Reacting today (13 January) to the publication of the results of the Commission’s public consultation on the controversial ISDS in the Transatlantic Trade and Investment Partnership (TTIP) Mr Martin has expressed his disappointment that after launching a civil society consultation process on ISDS, to which over 150,000 stakeholders replied, adequate solutions have not yet been provided to the shortfalls it identified.
“Labour MEPs are open to looking at real improvements,” stressed Mr Martin, “but so far the potential dangers outweigh the benefits of ISDS. If the Commission is not serious about a thorough reform, it would be best to withdraw ISDS altogether."
The Commission has acknowledged major concerns regarding its proposals for ISDS in the framework of TTIP, the EU-US free trade deal currently being negotiated and its plan to reform the EU's ISDS model, however this has been without any commitment on a timetable or policy process.
“This announcement will not address the considerable concerns raised by the thousands of constituents I have been listening to. The Commission has been clearly presented with citizens' concerns and considering the scale of the public response, we rightly expected more from them” said Mr Martin.
“This is not a Commission listening to the European public or providing adequate solutions."