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TTIP an opportunity for a more responsible trade policy

Published 3/31/2014 12:00 AM

TTIP an opportunity for a more responsible trade policy

​The Grand Committee of the Finnish Parliament approved the Eduskunta’s position on the ongoing EU – USA trade and investment negotiations (TTIP) on 28 march 2014.

In its statement the Grand Committee comes out in favour of TTIP. The Committee considers that strengthening the impact of the EU’s trade policy is one of the primary objectives of Finland’s EU policy.

The Grand Committee notes that, because of its economic strength, the Euro-Atlantic community is able to influence how the conditions of global trade develop. As the EU and USA can influence the terms of international trade, an ambitious and balanced treaty could push trade in a more transparent and responsible direction.

The core negotiating issues, investment protection, harmonisation of regulation, technical deregulation, and mutual recognition of technical standards impact on a number of sectors. The Grand Committee demands that the treaty must not impede the development of balanced and non-discriminatory legislation in Finland and the EU, and the treaty must not lead to a lowering of standards.

States must continue to be able to regulate, on an equal and non-discriminatory basis, the objects and conditions of investment. Investment protection can apply in Finland only to investments made in accordance with Finnish and EU law.

The Committee observes that Finland is party to some 60 investment protection treaties that include a dispute settlement mechanism. Similar mechanisms are included in treaties negotiated by the EU.