The Transatlantic Trade And Investment Partnership

2018 Words9 Pages
Introduction: Many nations are opting for treaties that will facilitate trade for their investing partners. Consequently, it is not unusual to see agreements enacted to protect foreign investors through an independent international law system and arbitration to free these investors from local judicial pressure. But the recent Transatlantic Trade and Investment Partnership (TTIP) to facilitate trade between the EU and the U.S. along with its ISDS inclusion is the kind of trade everyone is questioning and has raised concerns. Despite that, negotiations are still undergoing to include ISDS provisions in TTIP. Is this, the type of agreement that will lead to a prosperous trade agreement? Establishing a parallel alternative method of dispute…show more content…
ISDS is dangerous for democracy, our environment, consumer protection and other important standards. An overwhelming majority of Europeans has spoken out against ISDS. The Commission must take their own consultation results seriously and immediately stop negotiations on TTIP.” (Bar, 2014). From the constitution, a nation’s power should be founded by the people, for the people, but we are seeing this power being shifted and founded by the corporation, for the corporation. Besides monopolizing their specific industries, these corporations are pursuing this cut throat approach into buying people’s rights. Now it is up to us as a society to decide, whether we want our nation’s voice to come from the government created for the people or from the corporation owned by private investors who bears little to the interest of the public society as a whole. Threat to State Sovereignty: Giving Private Corporations, the right to bypass state laws, is a threat for states to be able to freely develop future public policies. That undermines the interest of the states and that of the population. That means member nations cannot make wise decisions for their populations. ISDS mechanism is damaging because, it allows the private tribunal to overturn state regulations and policies which are in place to protect the state and the populations. ISDS is being used by corporations, to challenge unfounded corporate interests that are
Open Document