European Commission unveils two initiatives for new foreign investment policy

BRUSSELS (BNO NEWS) – The European Commission unveiled two initiatives towards a comprehensive European international investment policy to impulse competitiveness and trade, the European Union (EU) announced on Wednesday.

“European investors need open, sound and predictable business environments to thrive and these proposals aim to strengthen the EU’s ability to ensure level playing fields for them,” EU Trade Commissioner Karel De Gucht said.

The Commission laid out how the new EU competence on foreign direct investment can be used to boost competitiveness and trade resulting in economic growth and job creation. Also, a draft regulation set up transitional arrangements offering guarantees on existing or pending bilateral investment treaties concluded between EU countries and non-EU nations.

“In the long run, a comprehensive investment policy will keep Europe as the world’s number one player in the field of foreign direct investment, ensure the best deal for all European businesses, invigorate growth and create jobs at this crucial time,” Gucht added.

The first initiative presented explores how best investment policy can contribute to smart, sustainable, and inclusive growth. The second one is a proposal for a regulation that would establish temporary arrangements on those bilateral investment agreements which EU countries concluded with other parts of the world previous to the Lisbon Treaty.

Under the Lisbon Treaty, investment policy will be developed and managed at the European level giving the EU a strengthened negotiating hand to deliver better investment protection for all European businesses.

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