Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-04-06-Speech-3-379-250"

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"The Treaty of Lisbon has introduced far-reaching changes to the area of common trade policy. Firstly, under the provisions of the Treaty, common trade policy has been extended by, among other things, matters relating to foreign direct investments. Secondly, the decision-making procedure has changed – the Council now makes decisions by qualified majority, while Parliament has gained the right of codecision. This means that the assent of our Chamber will be necessary both in the case of the ratification of trade agreements and on questions of investment (concerning foreign direct investments). The Union must create, as part of its common trade policy, a European investment policy which meets the expectations of investors and beneficiary states. Investment policy must also take account of the priorities of European Union foreign policy. In this context, there is also the question of regulation at international level, with particular reference to negotiations at the WTO. The new powers given to the Union by the Treaty of Lisbon also indirectly affect the competences of the European Parliament, placing it on a par with the Council in the decision-making process in the area of foreign direct investments. The new consistent and integrated EU investment policy should have a beneficial influence on global economic progress and development. As one of the most important economic blocs, the EU has a strong negotiating position which, thanks to a common policy in the area of direct investments, can contribute to a growth in the competitiveness of the EU and its businesses and increase employment."@en1

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