![]() The ECJ has been asked by the European Commission to opine on whether an analogous FTA between the EU and Singapore may be ratified at EU level or if it also requires individual ratification by each of the 28 EU Member States. However, CETA must first overcome the hurdle of an eagerly anticipated judgment of the European Court of Justice. The Comprehensive Economic and Trade Agreement (CETA) between the EU and Canada is the first of the EU’s new generation of free trade agreements (FTAs) negotiated by the EU in the exercise of its new competence. This is of no small importance since it gives the EU the mandate to negotiate at a supranational level EU-wide agreements – over and above the 1400 or so bilateral investment treaties (BITs) between individual EU Member States and third countries. ![]() ![]() The European Commission has – not without controversy – taken this to extend beyond investment liberalisation to investment protection and Investor-State Dispute Settlement (ISDS). The Treaty on the Functioning of the European Union conferred exclusive competence to the EU over foreign direct investment. The bargain struck in CETA between the interests of investors and those of the host state will undoubtedly inform the negotiation of the Transatlantic Trade and Investment Partnership (TTIP). The Comprehensive Economic and Trade Agreement’s (CETA) novel investment protection provisions provide a measured – and timely – response to criticisms directed at the ISDS system.
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