Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-05-09-Speech-1-187-000"
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"en.20110509.22.1-187-000"2
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"Madam President, Commissioner, ladies and gentlemen. In the era of the globalised economy, the European Union’s common commercial policy seems quite natural to us.
In this light, an initiative for the European Union to coordinate investment policy seems just as normal. The current system, relying on Member States’ numerous overlapping, and sometimes conflicting, bilateral investment agreements, should be replaced within a reasonable timeframe by a new framework of European Union investment agreements consistent with the horizontal objectives of EU policies. Personally, I would be in favour of placing the main emphasis on development policy. I agree with the rapporteur that the transition to the new regime should not take place overnight but should play out within a predetermined transitional period, the duration and rules of which should be established in advance so as to avoid any legal uncertainty. Without such a timeline, the regulation would allow parallel, potentially incompatible investment schemes to emerge.
A sufficiently long transition is needed to make the open-ended duality in EU investment policy unacceptable for Parliament, as the Treaty on the Functioning of the European Union states that investment policy is fully within the competence of the European Union."@en1
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