Join AFTINETIs the RCEP the TPP by another name

"Safeguards” for investor rights to sue governments in Korea FTA text will not work

“The Abbott Government has agreed to include Investor-State Dispute Settlement (ISDS) in the Korea Australia FTA text which was released today. ISDS enables foreign investors to sue national, state or local governments for hundreds of millions of dollars of damages if they can allege a domestic law or policy “harms” their investment.

Reply to the Trade Ministers’ claims that “safeguards” in trade agreements prevent investors from suing governments over health and environmental legislation

by Dr Patricia Ranald

The Abbott Government policy is to negotiate the inclusion of Investor-State Dispute Settlement (ISDS) in trade agreements. ISDS enables foreign investors to sue national, state or local governments for hundreds of millions of dollars of damages if they can allege a domestic law or policy “harms” their investment. The disputes are heard in international tribunals without the legal protections of national legal systems: the hearings are secret, arbitrators can be practising advocates and there are no precedents or appeals.

NZ Prime Minister defends TPP amid growing criticism

News.com.au reports that New Zealand's Prime Minister, John Key defended the Trans-Pacific Partnership while in Australia recently. The article also states that the TPP has "faced significant opposition" and quotes the Australia Institute's executive director, Dr Richard Denniss.

"The Australia Institute claims the TPP risks an explosion in the cost of medicines, less Australian television content and relaxed labelling of genetically modified foods.

US Senate Majority Leader opposes fast track for trade deals

In the US, Senate Majority Leader Harry Reid has said he opposes the ‘Trade Promotion Authority’ bill, which would fast-track the TPP and other trade deals. The bill would allow agreements to pass through Congress with limited debate and no amendments.

Politico reports that without Trade Promotion Authority, other countries participating in TPP negotiations (including Australia) will not have confidence that concessions made by the US in the TPP can be upheld, and will be unlikely to make their own concessions.

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