Local view for "http://purl.org/linkedpolitics/eu/plenary/2007-12-11-Speech-2-301"
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"en.20071211.38.2-301"2
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Madam President, as the honourable Member has observed, within the framework of the World Trade Organization (WTO) the provisions of GATT, the General Agreement on Tariffs and Trade, apply to trade in energy products, and the provisions of GATS, the General Agreement on Trade in Services, apply to trade in energy services, including direct investments in such services. There is not yet an agreement that extends to direct investments in energy-related activities carried out on the investor’s own account in the secondary sector, such as mining, refining, energy generation and energy distribution.
Under Article 133 of the EC Treaty, which regulates the common commercial policy, the European Community is explicitly given exclusive power to legislate and to negotiate agreements on trade in energy products and to negotiate agreements on trade in energy services. In addition, the Commission is empowered to negotiate on behalf of both the Community and its Member States on the liberalisation of direct investments outside the service sector in the framework of talks with non-EU countries concerning free trade agreements. This means that the Commission can already address core issues relating to trade and investment in the energy sector and represent European interests in these matters in bilateral and multilateral WTO negotiations, and indeed that is precisely what the Commission does.
The energy policy that will be mapped out in the new Treaty will focus on matters such as the security of the Union’s energy supply and the promotion of interconnections between energy networks, and in this respect it supplements but does not replace the common commercial policy in the energy sector."@en1
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