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#CETA: no need to further delay the ratification of the agreement

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BN-IL271_strasb_G_20150515141300Today (23 November), Liberals and Democrats rejected the referral to the European Court of Justice of the Investment Court System (ICS) and its compatibility with EU law.

The referral was rejected by a large majority of the Parliament. We strongly support the final agreement as it  significantly benefits European businesses and its citizens. Regarding the ICS, there is already an agreement between the EU institutions and Canada that the system will not be applied before the ratification by all national parliaments and that we must work together to realize a credible and modern international investment protection mechanism. ALDE believes that today's vote will bring all counterproductive tactics to an end.

Guy Verhofstadt, President of the ALDE group in the European Parliament, commented today:“We have extensively discussed and scrutinized this agreement since the process started many years ago. CETA as negotiated will not only open new opportunities for European businesses in Canada but also reinforce EU standards in the global context. It is in all our interests to ratify CETA and allow for its provisional application. The Investment Court System (ICS) will not be applied until all national parliaments have ratified it. EU institutions, Member States and the Canadian government all agree this is the best way forward. Any further delays will undermine the EU's credibility and ability to negotiate trade agreements.”

MEP Marietje Schaake, ALDE spokesperson on CETA, added: “We have ensured CETA is the most modern and progressive agreement that the EU has concluded. It ensures market access and strengthens high standard trade. We need to enforce the rules framework to ensure globalisation will not be a race to the bottom. The text reflects the European Parliament's demands, now we must take our responsibility, to make sure citizens can enjoy the benefits as soon as possible.”

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