Madam Speaker, I would like to compliment my hon. colleague for the wonderful job he does as chair of the Canada-Europe Parliament Association and his thoughtful approach, not only to CETA but to all matters between Canada and the European Union.
The member raised an excellent point. One of the reasons New Democrats are very concerned, and are not prepared in any way to support this agreement at this point, is because of the uncertainty over the investment chapter in the ISDS provisions. My friend is quite right, it has been hived off now, and will be subject to ratification by all 28 member states of the European Union.
We do not yet know what would happen if one state or more fails to ratify that provision. Does it mean that the entire agreement is null and void? Does it mean that only the investment chapter is null and void? What does it mean for Canada if we sign an agreement, and the European states have taken away the right of Canadian corporations to sue in Europe, but we may be vulnerable to corollary lawsuits from European corporations here?
These are very important questions, and I am glad my hon. colleague has raised them. It is another reason to be very cautious at this point. I also want to congratulate my colleague from Essex for raising that point very clearly in the House.