Draft EU-Canada Trade Agreement Order

Part of Food Advertising (Protection of Children from Targeting) – in the House of Commons at 1:19 pm on 26th June 2018.

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Photo of Barry Gardiner Barry Gardiner Shadow Minister (Department for Business, Energy and Industrial Strategy) (Energy and Climate Change), Shadow Secretary of State for International Trade 1:19 pm, 26th June 2018

I apologise, Madam Deputy Speaker. There are many aspects of the deal that we would welcome, but there are elements of it that are absolutely unsustainable and constitute red lines. South Africa, India and New Zealand have all stated their opposition to ISDS procedures, and New Zealand has gone so far as to sign side letters with five counter-signatories to the Trans-Pacific Partnership disapplying the ISDS provisions included in that agreement. The current impasse in the renegotiation of the North American Free Trade Agreement hinges on US demands to drop ISDS provisions from the revised agreement, the rationale being that their respective domestic court systems are perfectly capable of adequately settling any disputes. Indeed, if our courts are sufficient for British companies, why should they not be considered so for foreign investors, too? The United Kingdom has long been considered a safe legal system, and a significant proportion of global trade is governed by legal—