On the eve of the G20 summit in Hamburg, the European Union and Japan reached a political understanding about a new comprehensive free trade agreement. During the EU-Japan Summit, Shinzo Abe, Japan’s prime minister, hailed the agreement as “the birth of the world’s largest, free, industrialized economic zone.” EU officials proclaimed it “the most important bilateral trade agreement ever concluded by the EU.”
A summary of the Commissioner’s presentation is now available.
A summary of the Committee’s exchange of views with Urve Palo, Minister for Entrepreneurship and Information Technology, representing the President-in-Office of the Council is available.
On 10 July 2017, the United Nations Commission on International Trade Law (UNICTRAL) agreed that further work should be carried out in this forum on the issue of a multilateral reform of investment dispute settlement.
This is an overview of all press releases, statements, speeches, factsheets, infographics, draft texts of chapters, and other documents published on the EU-Japan Economic Partnership Agreement.
Since 2015, the European Commission has worked on the establishment of a Multilateral Investment Court (MIC). The purpose of this court is to have a permanent international body that can settle investment disputes between investors and states. The MIC would replace the current system of investor-to-state dispute settlement (ISDS) based on ad hoc commercial arbitration, which has become controversial over the past few years.
The World Trade Organization today found that the United States has continued to illegally subsidise aircraft manufacturer Boeing, causing significant harm to its European competitor Airbus. The WTO ruling confirms that the United States has taken no appropriate action to comply with its obligation to withdraw subsidies declared illegal by the WTO’s Appellate Body in 2012, or to remove their adverse effects.