Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-04-06-Speech-3-376-750"
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"en.20110406.29.3-376-750"2
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"I voted in favour of the excellent report by my colleague and friend, Mr Arif, on the EU’s foreign direct investment (FDI) policy. With this document, Parliament formulates two, in my opinion, major requirements when defining how to frame future international investment protection agreements that are binding on Europe. The first requirement is that all these agreements include clauses compelling European investors to behave responsibly abroad in economic, social and environmental matters. The second requirement is that all these agreements leave scope for the governments of the countries receiving this investment to legislate for the common good. In the past, some private investment protection clauses enabled the adoption, by the third country, of social or environmental legislation to be regarded as indirect expropriation, resulting in compensation. We need to put an end to these abuses. While this Parliament has, for the first time, a say on such matters, the Arif report has fired a warning shot across the bows of the Council and the Commission as they prepare to open negotiations with India, Canada and, soon, with China."@en1
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