Trade Agreements

Dáil Éireann Debate, Tuesday - 20 March 2018

Tuesday, 20 March 2018

Ceisteanna (415)

Niall Collins

Ceist:

415. Deputy Niall Collins asked the Minister for Business, Enterprise and Innovation her views on a European Court judgment (details supplied); if this judgment relating to bilateral investment treaties between European Union, EU, member states has no impact on EU trade agreements with third countries relating to arbitration; if Ireland is no longer party to bilateral investment treaties with other EU countries; and the number of such bilateral investment treaties that remain in the EU. [12746/18]

Freagraí scríofa

Minister for Business, Enterprise and Innovation

Ireland has no Bilateral Investment Treaties (BITs) since the termination of its BIT with the Czech Republic in 2011.

BITs set the terms and conditions for investments between two states. Most of the intra-EU BITs date back to the 1990s when one or both countries were not yet a member of the EU. Their aim was to strengthen investor protection in cases of potential unfair or discriminatory treatment through arbitration procedures for the settlement of investment disputes. There are still almost 200 bilateral investment treaties in existence between EU Member States and EU Commission policy is for these treaties to be formally abolished as the rules of the Single Market provide the regime governing the free movement of capital and for the settlement of disputes within the EU involving an EU Member State.

This judgement is specific to BITs between EU Member States and does not concern investment treaties with third countries.