Europe’s top court has ruled that a landmark trade deal between the EU and Canada is legal, ending doubts about its approach to protecting the rights of foreign investors.
The European Court of Justice backed a system agreed by the EU and Canada for resolving situations where investors from either side claim they have been unfairly treated. The provisions were at the centre of an activist backlash against Ceta which came close to scuppering the signing of the deal in 2016.
The court case was the result of a deal struck in 2016 to end opposition by the Belgian region of Wallonia to the trade pact. The Walloon regional government, which had the power to prevent Belgium from signing Ceta, threatened to block the accord on concerns that it could undermine EU social and environmental standards.
[Read more here.]