Conclusion of the EU-Viet Nam Free Trade Agreement - Conclusion of the EU-Viet Nam Free Trade Agreement (Resolution) - EU-Viet Nam Investment Protection Agreement - EU-Viet Nam Investment Protection Agreement (Resolution) (debate)
Mick Wallace (GUE/NGL). – Madam President, Commissioner, you told us that human rights was an issue of concern in Vietnam. Now Phil, tell me, in God’s name when did you ever allow any concerns about human rights to interfere with our business interests? I mean, we even do business with Israel and Saudi Arabia. These trade deals don’t do anything for the people from these regions. They decimate indigenous industry, they impoverish small farmers. The people of Vietnam will not benefit from this. Big business in Vietnam will benefit from it.
The main problem with this type of agreement is that it guarantees enforceable rights to foreign investors and multinationals through the arbitration clause but doesn’t provide a mechanism for sanctions for noncompliance with social and environmental standards. What are the chances of trading with someone on the far side of the planet being good for our environment? Zero. What are the chances of being consistent with the Paris Agreement? Zero.