Transatlantic Trade and Investment Partnership

Baroness Coussins Excerpts

Tuesday 18th November 2014 Lords Chamber

[Lord Livingston of Parkhead]

My noble friend is entirely correct that investor-state dispute settlement provisions have existed for a long time. There are a great number of them and, to the extent that they are used, they are often used by the EU and not by US corporations. We are having detailed discussions not just with other member states and the Commission but with MEPs. I had the joy of two days in Brussels just last week discussing such matters. We are also engaging NGOs—I am meeting a number of them and other interest groups—and we continue to make the clear case that we will ensure that the UK’s interests and public services are protected in all such discussions.

[Baroness Coussins (CB)]

My Lords, what progress has been made on incorporating into TTIP some of the features of the investor-state dispute mechanism that were achieved in the free trade agreement with Canada, which I understand incorporated provisions about transparency of proceedings, costs and other issues that meet some of the concerns that have been expressed?

[Lord Livingston of Parkhead]

The noble Baroness is entirely correct. The agreement with Canada is far more the state of the art. Although we are waiting to see the results later next month of the consultation on ISDS, I hope and assume that they will incorporate much of what we have learnt from CETA. From speaking to the US representatives, I know that they too are very much for things like transparency in ISDS clauses, thus meeting some of the genuine concerns about some of the past ISDS clauses.