In 1959, Germany and Pakistan signed the first Bilateral Investment Treaty (BIT) in the world. Without knowing, they marked a new era as many countries have followed their example since then. Currently, the international legal system that governs international investment flows consists of about 3000 BITs and other international investment agreements (IIAs). While originally these treaties were thought to be beneficial for the investor and the host state in terms of economic growth, increased foreign investment and development, many host states have suffered negative consequences instead of benefiting from them.
On 22 May European citizens will head to the polls to vote for the European Parliament. The outcome will have a major impact on the policies emanating from Brussels. These elections are not just about the choice for or against Europe, but about what kind of Europe we want. Trade and investment policy is an important part of the European project. Up till now however, this policy has not served people and planet. Curious which politicians will commit themselves to a fair and sustainable European trade and investment policy? Take a look at the list of candidates for the European Parliament who have signed the pledge of the Alternative Trade Mandate alliance.