EURACTIV PR

An easy way of publishing your relevant EU press releases.

International investment policy of the EU: common standards and better protection of European investors. Paweł Zalewski MEP

Date

05 Apr 2011

Sections

Euro & Finance

The European Parliament today adopted its first Report on the future of the EU's international investment policy. Since the entry-into-force of the Lisbon Treaty, foreign direct investment became an exclusive competence of the EU (Arts. 206 and 207 TFEU). "The Report, adopted today in plenary by a large majority, is an important voice in the debate between the European Commission and the Council and underlines that all EU investors must be treated equally and that common standards and conditions must apply to all", said Paweł Zalewski MEP, EPP Group Shadow Rapporteur and Vice-Chairman of the International Trade Committee (INTA).

Now, more than 1,200 bilateral investment treaties (BIT) concluded, until recently, individually by each of the 27 EU Member States will now be managed by the European Commission which will be the negotiator of all future investment agreements. MEPs agreed that future investment agreements must be based on best practices drawn from Member States' experiences.

"The fact that now the EU, as a whole, will be a partner vis-à-vis China or Russia is of crucial importance considering the unity of the EU. Investments are treated by some third countries, for example Russia, as an element of their foreign policy aimed to disunite the European Union. The new investment policy is based on the assumption that investors are treated equally and that all investments are protected to the same extent. There is no place for loopholes or double standards in the future common European investment policy", added Mr Zalewski.

"We compete on our own internal market on the basis of the same rules. The same should apply when European companies compete for markets abroad", he underlined.

The Report was adopted by a large majority in the EP Committee on International Trade on 16 March 2011.

For further information:
Paweł ZALEWSKI MEP, +33-3-88-175481
Joanna Bekker, EPP Group Press & Communications Service, Tel: +32-476-943388

Notes to Editors:
The EPP Group is by far the largest political group in the European Parliament with 265 Members.

Jobs

Political Intelligence
HR Intern
European Animal Research Association
Events & Projects Officer (life science-focused)
Friends of Europe
Social Media Manager
COFACE Families Europe
Project Coordinator
European Travel Commission
Advocacy Trainee
European Cancer Organisation
EU Projects Manager/Officer