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EU Commission opens a public hearing on the investment protection agreement - Permanent Mission of Finland to the UN : Current Affairs : Ministry for Foreign Affairs News

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Press Releases, 3/27/2014 | Ministry for Foreign Affairs of Finland

EU Commission opens a public hearing on the investment protection agreement

Press release 73/2014
27 March

On 27 March, the European Commission opened a public hearing on the EU-US Transatlantic Trade and Investment Partnership.

The Commission asks the EU citizens to submit comments on the investment protection included in the pact and the relevant international arbitration procedure. The hearing will be implemented electronically online.

“I urge Finnish people to participate in this hearing. This is a unique opportunity to be heard in this important issue,” says Minister for European Affairs and Foreign Trade Alexander Stubb.

The purpose of the public hearing is to address the concerns that the investment protection and the arbitration procedure related to the  EU-US agreement have given rise to.

“In the agreement, it is advisable to state in even clearer terms that it protects investors against discrimination and unfair practices, without interfering with the legislation of any of the contracting states. Finland has more than 60 investment agreements, and we have not encountered any problems. However, we must ensure that there remain no loopholes," points out Minister Stubb.

The public hearing will not affect the negotiations about other subjects of the partnership agreement, but these will continue as normal between the EU and the United States. The fifth round of negotiations will probably be organised towards the end of May.

The hearing will remain open for 90 days. At first, the form will be available in English only, but within the next few weeks in all official EU languages. You can participate in the hearing through: http://trade.ec.europa.eu/consultations/index.cfm?consul_id=179

Additional information: Lauri Tierala, Special Adviser to the Minister for European Affairs and Foreign Trade, tel. +358 295 351 778; and Kimmo Sinivuori, Commercial Counsellor, tel. +358 295 351 499, forename.surname@formin.fi

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Updated 3/28/2014


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