Regional Comprehensive Economic Partnership (RCEP)
Like the TPP, the RCEP could contain rights for foreign corporations to bypass national courts and sue governments in unfair international tribunals. This system is called investor-state dispute settlement (ISDS).
The RCEP is even bigger than the TPP with its 16 countries representing half the world’s population. It's also more secretive than the TPP, which was infamous for its lack of transparency. What we do know from leaked documents is that there is a push to use the failed TPP as a model - which means the RCEP could also be a bad deal for democracy, health, the environment and working people.
March 23, 2017: Leaked documents from the December 2016 RCEP negotiations have been published on the KEI website. They show how the RCEP investment and services chapters restrict government regulation of investment flows and financial services.
An extract from the investment chapter sets out rules for governments dealing with balance of payments crises or other financial crisis.
Despite the TPP’s demise, global corporations and some governments including the Australian government are pushing to repeat the same failed model in other trade agreements. First in line is another mega-trade deal, one which is even bigger and even more secretive than the TPP: the Regional Comprehensive Economic Partnership (RCEP).
MEDIA RELEASE, March 9 2017: Two hundred organisations from 15 countries have urged trade ministers meeting in Chile next week not to use the failed TPP as a model for future agreements.