MIL-OSI Europe: Answer to a written question – Lack of protection for Italian investments in Colombia and obligations under the EU-Colombia trade agreement – E-002753/2024(ASW)

The EU-Colombia trade agreement[1] does not include investment protection commitments that could provide a basis for EU investors to request arbitration or other related dispute settlement procedure.

At present such procedures are only available to French and Spanish investors under bilateral investment treaties concluded by their respective Member States with Colombia.

The Commission has not been made aware of similar difficulties faced by Italian investors, although affected investors may choose not to disclose such information.

The Commission expects that Colombia will treat EU investors fairly, so that both sides can reap the maximum benefits of the EU-Colombia trade agreement.

The EU Delegation in Bogota in cooperation with national authorities is closely monitoring the situation of protection of Member States’ investments in Colombia.

• [1] Trade agreement between the EU and Colombia of 26 June 2012, published in the Official Journal of the European Union on 24 December 2016 (L 356), https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ%3AL%3A2016%3A356%3ATOC