The European Commission has prepared a text clarifying some controversial issues in CETA, a trade agreement with Canada.
In a statement issued today, the Commission says it has "engaged in constructive discussions with the German Federal Government to prepare a text that clarifies certain provisions in CETA. The result of these technical discussions is a more precise definition of the concepts of 'indirect expropriation' and ‘fair and equitable treatment' of investors."
It says the new draft text agreed by the Commission and Germany's Federal Government "provides legal certainty" and it calls on all other EU member states to support it.
It says the aim is to ensure that the parties to CETA can regulate on issues related to climate, energy and health policies to achieve "legitimate public objectives" and prevent investors misusing dispute settlement mechanisms.
The issue of investor courts which some fear could allow Canadian investors to sue EU governments over policies which disadvantage them has been controversial.
Green Party TD Patrick Costello took a case to the High Court and then Supreme Court arguing that the issue of investor courts would make it unconstitutional for the Oireachtas to ratify CETA.
