Peru FTA

Overview

Negotiations for a Peru-Australia free trade agreement (PAFTA) began in May 2017. The deal was signed on February 12, 2018. The text has been released and a JSCOT inquiry on the implementing legislation may be announced in March 2018.

Australia and Peru were both part of Trans-Pacific Partnership (TPP) negotiations with the US and nine other countries.

AFTINET submission: The Peru-Australia Free Trade Agreement (PAFTA)

May 3, 2018: The AFTINET submission to the Peru-Australia Free Trade Agreement is available to read in full here, and summarised below. The JSCOT report is due on August 22, 2018, after which Parliament will consider the implementing legislation. Our assessment is there is insufficient information for support the implementing legislation.

Relationship between PAFTA and the TPP-11

Greenpeace report: ISDS empowers global corporations at the expense of people and planet

January 19, 2018: A new report by Greenpeace, Justice for People and Planetuses 20 case studies of global corporations to explain how corporate power is being used to violate human rights and environmental rights. The report argues that governments should adopt 10 Principles for Corporate Accountability to curb ‘corporate capture, collusion and impunity’.

Peru FTA includes investor rights to sue governments, but no text available for independent assessment

Media Release, November 10, 2017: The announcement of the completion of the Peru-Australia Free Trade Agreement at the APEC meeting in Vietnam without access to the text again demonstrates the flaws in the secretive trade agreement process, in which governments announce agreements without making the text public and without independent assessment of the costs and benefits,” AFTINET Convener Dr Patricia Ranald said today.