Investor protection mechanism in EU-Singapore deal needed – Hayes

The Fine Gael MEP Brian Hayes has dismissed concerns about the inclusion of an investor protection mechanism in the new EU-Singapore trade deal.

The free trade agreement which was approved by the European Parliament this week, will remove virtually all tariffs between the EU and Singapore within five years.  Supporters of the agreement say it will be a stepping stone to trade deals with other countries in the region.  

However opponents are concerned about the investment protection agreement in the deal, which provides a court system with independent judges to settle disputes between investors and state.

Brian Hayes says it’s a necessary requirement.

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