Yes, but no.
I don't take issue with the GMO stuff (even though I think their opposition has little support) in this. What I shake my head at is the illogical nature of this legislation. This is like saying that the United States can enter into a treaty with another nation, and yet the individual states within the United States have the power to individually approve or disapprove of the conditions of the treaty! This is effectively saying that the EU is no longer anything more than a loose coalition of states without any collective bargaining or treaty power. The ramifications of such a move are staggering.
At present its purposes are: enforcing green religion and crackpot economics, defending the human rights of terrorists, and paying enormous salaries to its parliament and employees.