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Multilateral Investment Court: Overview of the reform proposals and prospects

28-01-2020

The Council of the European Union has authorised the European Commission to represent the EU and its Member States at the intergovernmental talks at the United Nations Commission on International Trade Law (UNCITRAL), with a view to reforming the existing investor-state dispute settlement (ISDS) system. The latter provides a procedural framework for disputes between international investors and hosting states, and relies on arbitration procedures. However, there have been growing concerns among states ...

The Council of the European Union has authorised the European Commission to represent the EU and its Member States at the intergovernmental talks at the United Nations Commission on International Trade Law (UNCITRAL), with a view to reforming the existing investor-state dispute settlement (ISDS) system. The latter provides a procedural framework for disputes between international investors and hosting states, and relies on arbitration procedures. However, there have been growing concerns among states and stakeholders about the system's reliance on arbitrators, given its lack of transparency, issues over the predictability and consistency of their decisions, and the excessive costs involved. UNCITRAL talks aim to address these concerns by reforming the system. The EU and its Member States support the establishment of a multilateral investment court (MIC), composed of a first instance and an appellate tribunal staffed by full-time adjudicators. UNCITRAL talks on ISDS reform started in 2017. In April 2019, the working group finalised the list of concerns regarding the current ISDS system and agreed that it was desirable to work on reforms. The states then tabled reform proposals that provided the framework for the discussions that started in October 2019. The proposals range from introducing binding rules for arbitrators to setting up formal investment courts comprised of first instance and appellate tribunals. All in all, the proposals reflect two distinct approaches. Some states back the creation of tools – such as a code of conduct and/or an advisory body for smaller economies and small and medium-sized enterprises – to complement the current system. Others favour fundamental changes through the creation of a two-court system with appointed members. The latest round of talks took place in January 2020, and another is scheduled for March/April 2020. Although states are eager to reform the ISDS system, the complexity of the issue is likely to require additional sessions before agreement can be reached.

2019: A year of challenges and choices [What Think Tanks are thinking]

20-12-2019

The European Parliament elections and formation of a new European Commission with new priorities, together with a general economic slowdown against the backdrop of the US-China trade conflict, to say nothing of Brexit, defined 2019 as a year of tough choices in the context of old and new challenges. Those include efforts to fight climate change, the defence of the rules-based international order, the advance of the digital revolution, the emerging debate over the EU’s strategic sovereignty, and the ...

The European Parliament elections and formation of a new European Commission with new priorities, together with a general economic slowdown against the backdrop of the US-China trade conflict, to say nothing of Brexit, defined 2019 as a year of tough choices in the context of old and new challenges. Those include efforts to fight climate change, the defence of the rules-based international order, the advance of the digital revolution, the emerging debate over the EU’s strategic sovereignty, and the need to re-define relations with the United Kingdom post-Brexit. This note offers links to recent selected commentaries, studies and reports from major international think tanks on the state of the EU in 2019 and its outlook in several important areas.

Indonesia: Economic indicators and trade with EU

19-12-2019

Which economy grew faster over the past 15 years – the EU or Indonesia? How many Indonesian women have a job, and what is the unemployment rate? Which country is Indonesia's biggest trading partner? What kind of products does the EU import from Indonesia? How does Indonesia compare with the global average in terms of human development, income inequality and corruption? You can find the answers to these and other questions in our EPRS publication on Indonesia: economic indicators and trade with EU ...

Which economy grew faster over the past 15 years – the EU or Indonesia? How many Indonesian women have a job, and what is the unemployment rate? Which country is Indonesia's biggest trading partner? What kind of products does the EU import from Indonesia? How does Indonesia compare with the global average in terms of human development, income inequality and corruption? You can find the answers to these and other questions in our EPRS publication on Indonesia: economic indicators and trade with EU, one of a series of infographics on the world's main economies produced in collaboration with the European University Institute's GlobalStat.

Outcome of the meetings of EU leaders, 12-13 December 2019

17-12-2019

At the first European Council meeting chaired by the new President, Charles Michel, the main issues on the agenda were climate change, the next Multiannual Financial Framework (MFF), and the proposed Conference on the Future of Europe. Regarding climate change, the European Council announced an agreement on the objective of achieving a climate-neutral EU by 2050, despite the refusal of one Member State to commit to implementing this objective at this stage. On the MFF, the European Council did not ...

At the first European Council meeting chaired by the new President, Charles Michel, the main issues on the agenda were climate change, the next Multiannual Financial Framework (MFF), and the proposed Conference on the Future of Europe. Regarding climate change, the European Council announced an agreement on the objective of achieving a climate-neutral EU by 2050, despite the refusal of one Member State to commit to implementing this objective at this stage. On the MFF, the European Council did not reach agreement, but mandated its President to take the negotiations forward. The European Council also considered the idea of a Conference on the Future of Europe, and tasked the in-coming Croatian Council presidency to work towards defining a Council position on the matter, and on that basis, to engage with the European Parliament and the Commission. EU leaders also discussed a wide range of international issues, including relations with Turkey and Russia.

Policy Departments' Monthly Highlights - December 2019

16-12-2019

The Monthly Highlights publication provides an overview, at a glance, of the on-going work of the policy departments, including a selection of the latest and forthcoming publications, and a list of future events.

The Monthly Highlights publication provides an overview, at a glance, of the on-going work of the policy departments, including a selection of the latest and forthcoming publications, and a list of future events.

EU trade with Latin America and the Caribbean: Overview and figures

16-12-2019

Collectively, the 33 countries forming the Community of Latin American and Caribbean States (CELAC) are the EU's fifth largest trading partner. The EU has fully fledged agreements with two Latin American groupings (Cariforum and the Central America group), a multiparty trade agreement with three countries of the Andean Community (Colombia, Ecuador, and Peru), and agreements with Mexico and Chile that are in the process of being modernised. Furthermore, the EU has inter-regional and bilateral framework ...

Collectively, the 33 countries forming the Community of Latin American and Caribbean States (CELAC) are the EU's fifth largest trading partner. The EU has fully fledged agreements with two Latin American groupings (Cariforum and the Central America group), a multiparty trade agreement with three countries of the Andean Community (Colombia, Ecuador, and Peru), and agreements with Mexico and Chile that are in the process of being modernised. Furthermore, the EU has inter-regional and bilateral framework agreements with both Mercosur and its individual members. The EU's agreements governing trade relations with Latin American and Caribbean subgroupings and individual countries differ considerably in terms of coverage and methodology, depending on the time at which they were concluded and the backdrop to the negotiations. The EU is currently modernising the trade pillars of its agreements with Mexico (an 'agreement in principle' was reached in April 2018) and Chile (negotiations are still ongoing) in order to align them to the current standards of EU FTAs. If the EU-Mercosur Association Agreement, which includes a trade pillar for which a political agreement was reached in June 2019, is successfully ratified, the EU would then have comprehensive agreements governing trade relations with nearly all of Latin America and the Caribbean (with the exception of Bolivia, Cuba and Venezuela).

Mercosur: Economic indicators and trade with EU

10-12-2019

Mercosur, the 'southern common market', was founded in 1991 when Argentina, Brazil, Paraguay, and Uruguay signed the Treaty of Asunción. In 2012, Venezuela formally joined Mercosur as a fifth member, but in December 2016 the country was suspended temporarily for failure to transpose Mercosur rules into Venezuelan law. In August 2017, the suspension was prolonged indefinitely. This paper presents economic indicators for the four members, for example showing their GDP and labour market situations, ...

Mercosur, the 'southern common market', was founded in 1991 when Argentina, Brazil, Paraguay, and Uruguay signed the Treaty of Asunción. In 2012, Venezuela formally joined Mercosur as a fifth member, but in December 2016 the country was suspended temporarily for failure to transpose Mercosur rules into Venezuelan law. In August 2017, the suspension was prolonged indefinitely. This paper presents economic indicators for the four members, for example showing their GDP and labour market situations, and it also shows those countries’ relative positions on several indexes that assess the situation in terms of doing business, corruption and human development. Finally, it looks at trade between the EU and Mercosur – of both goods and services – highlighting the main trading partners, and the main products and services that the EU exports to and imports from the four Mercosur members.

China: Economic indicators and trade with EU

03-12-2019

China's economy is slowing from past two-digit growth rates to a 'new normal' growth rate of 'only' 6.5% on average under the current five-year plan (2016-2020). To what extent does this slowdown affect China's public finances and other macroeconomic indicators? How has EU trade with China developed during the last decade? How important is the EU for China in terms of trade? And what about China's trade relevance for the EU? Has the huge trade imbalance in goods trade between China and the EU narrowed ...

China's economy is slowing from past two-digit growth rates to a 'new normal' growth rate of 'only' 6.5% on average under the current five-year plan (2016-2020). To what extent does this slowdown affect China's public finances and other macroeconomic indicators? How has EU trade with China developed during the last decade? How important is the EU for China in terms of trade? And what about China's trade relevance for the EU? Has the huge trade imbalance in goods trade between China and the EU narrowed in recent years? How intensive is trade in services between the EU and China? What are the EU's main export items to China? How does China's export basket look like? You can find the answers to these and other questions in our EPRS publication on China produced in collaboration with the European University Institute's GlobalStat on the world's main economies. This is an updated edition of an ‘At a Glance’ note published in October 2018.

Policy Departments' Monthly Highlights - November 2019

26-11-2019

The Monthly Highlights publication provides an overview, at a glance, of the on-going work of the policy departments, including a selection of the latest and forthcoming publications, and a list of future events.

The Monthly Highlights publication provides an overview, at a glance, of the on-going work of the policy departments, including a selection of the latest and forthcoming publications, and a list of future events.

Review of dual-use export controls

26-11-2019

Certain goods and technologies have legitimate civilian applications but can also be used for military purposes; so-called 'dual-use' goods are subject to the European Union's export control regime. The regime is now being revised, mainly to take account of significant technological developments and to create a more level playing field among EU Member States. The proposed regulation would recast the regulation in force since 2009. Among other elements, the proposal seeks to introduce an 'autonomous ...

Certain goods and technologies have legitimate civilian applications but can also be used for military purposes; so-called 'dual-use' goods are subject to the European Union's export control regime. The regime is now being revised, mainly to take account of significant technological developments and to create a more level playing field among EU Member States. The proposed regulation would recast the regulation in force since 2009. Among other elements, the proposal seeks to introduce an 'autonomous' EU list for cyber-surveillance technology featuring items that are not (yet) subject to multilateral export control. Moreover, the proposal seeks to introduce human rights violations as an explicit justification for export control. Stakeholders are divided over the incorporation of human rights considerations, with the technology industry particularly concerned that it might lose out to non-European competitors. On 17 January 2018, based on the INTA committee's report on the legislative proposal, the European Parliament adopted its position for trilogue negotiations. For its part, the Council adopted its negotiating mandate on 5 June 2019, and on the basis of this mandate, the Council Presidency began negotiations with the European Parliament's delegation on 21 October 2019. Fifth edition. The ‘EU Legislation in Progress’ briefings are updated at key stages throughout the legislative procedure. Please note this document has been designed for on-line viewing.

Buduća događanja

29-01-2020
Where all students can succeed: Analysing the latest OECD PISA results
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The Future of Artificial Intelligence for Europe
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‘Sidetracked’ - A dystopian Brexit novel: David Harley in conversation
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