Arab Today, arab today us backs existing arbitration procedures for foreign investors
Last Updated : GMT 21:47:11
Arab Today, arab today
Arab Today, arab today

US backs existing arbitration procedures for foreign investors

Arab Today, arab today

Arab Today, arab today US backs existing arbitration procedures for foreign investors

EU-US unlikely to meet year-end deadline to wrap up talks on their free trade deal
Paris - AFP

A senior US official on Monday defended current mechanisms in place to resolve disputes with foreign investors, amid EU calls for the creation of an investment court in a bid to resolve a controversial issue holding up a massive EU-US free trade deal.

The EU's trade commissioner Cecilia Malmstroem last week proposed creating an international investment court to allay concerns among Europeans that the arbitration panel foreseen in the deal would effectively allow companies to bypass national courts if they feel their investments are under threat.

However US Undersecretary for International Trade at the Commerce Department, Stefan Selig, said numerous so-called Investor-State Dispute Settlement (ISDS) mechanisms already exist in international trade agreements and had not resulted in a loss of sovereignty for countries.

"The criticisms that they undermine governments' right to regulate, I think are just misguided," Selig said during a visit to Paris when asked about Malmstroem's proposals.

"They're about enforcing rights for all of our companies, US companies and European companies abroad."

Selig said the United States believes the ISDS mechanism "increases the security of companies willing to make investments and arguably makes that country, whether it's the United States or any country in Europe, a more attractive investment destination."

A US Commerce Department official told AFP later on Monday that Selig's remarks did not mean he rejected the EU's proposal "as he has not seen the proposal in order to offer a view or speak to the merits of any such proposal".

Malmstroem's proposals included making the ISDS arbitration tribunals more like traditional courts, with a view to eventually setting up a permanent international investment court.

The EU-US are unlikely to meet a year-end deadline to wrap up talks on their free trade deal, which is called the Transatlantic Trade and Investment Partnership.

If concluded, TTIP would be the world's biggest trade deal, linking about 60 percent of the world's economic output in a colossal market of 850 million consumers, creating a free-trade corridor from Hawaii to Lithuania.

Selig is set to hold talks in Brussels on Tuesday.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us backs existing arbitration procedures for foreign investors Arab Today, arab today us backs existing arbitration procedures for foreign investors

 



Arab Today, arab today
Arab Today, arab today Heart of Turkish Riviera is Alluring Seaside Escape

GMT 11:11 2017 Tuesday ,28 March

Heart of Turkish Riviera is Alluring Seaside Escape
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Russia, Iran ink economic deals

GMT 08:03 2017 Wednesday ,29 March

Russia, Iran ink economic deals
Arab Today, arab today Media host gives priority to problems of people

GMT 07:00 2017 Tuesday ,28 March

Media host gives priority to problems of people
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Disaster costs nearly double to $175bn

GMT 10:42 2017 Tuesday ,28 March

Disaster costs nearly double to $175bn
Arab Today, arab today Campaign fights sexual harassment in Egypt

GMT 11:14 2017 Tuesday ,28 March

Campaign fights sexual harassment in Egypt
Arab Today, arab today Trump moves to roll back Obama climate measures

GMT 08:39 2017 Wednesday ,29 March

Trump moves to roll back Obama climate measures
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Mercedes, VW recall million vehicles in China

GMT 09:16 2017 Wednesday ,29 March

Mercedes, VW recall million vehicles in China
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Trump poised to roll back climate protections

GMT 09:28 2017 Tuesday ,28 March

Trump poised to roll back climate protections

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 11:10 2017 Monday ,27 March

Trump to roll back Obama clean power plan

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 11:55 2017 Wednesday ,29 March

Need ‘gymspiration?’ The top fun fitness bloggers

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 05:17 2017 Wednesday ,29 March

Samsung to sell refurbished Galaxy Note 7s

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday