Concerns raised over part of EU/Canada trade deal

A system contained within a proposed trade deal between the EU and Canada is causing concern among a number of community groups.

The Comprehensive Economic and Trade Agreement (CETA) has within it what’s called an ‘Investor Court System’.

Spokesperson for Love Leitrim, Jamie Murphy, says the fear is if the trade deal is agreed, the court system will allow companies to sue member states if they believe a law could negatively impact their future profits.

A motion to ratify the deal appeared on the Dail schedule in December 2020 but was deferred after two Green Party TD’s said they would not vote with the government to ratify the deal.

There have been instances of multinational companies suing nations in the past; the largest to date was in 2012 when Ecuador was ordered to pay $1.8bn to an oil company.

Speaking to OceanFM News, Jamie Murphy explains the concerns if the deal is ratified.