August 15, 2018: Professor K S Jomo, a member of new Malaysian Prime Minister Dr Mahathir Mohamad’s Council of Eminent Persons, has publicly called for the new government to decline to ratify the TPP-11, officially titled the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.
August 14, 2018: A recent study published by the Columbia University Centre for Sustainable Investment evaluates the costs and benefits for states of investor-state dispute settlement (ISDS) provisions in trade and investment agreements. It concludes that expected benefits in terms of increased levels of foreign investment have not clearly materialized, whereas the costs have been unexpectedly high.
August 10, 2018: The ABC reports that until recently, Australia had been free of the deadly white spot prawn disease which is harmless to people but has the potential to wipe out both farmed and wild prawns. Quarantine border checks were intended to prevent the disease from being imported in raw prawns.
August 9, 2018: The Canadian mining company Bear Creek recently won an ISDS case against Peru and was awarded US$37 million in compensation and costs. The government had refused a mining license because the company had not sought full and informed consent from indigenous people, resulting in mass protests against the mine in 2011. AFTINET has been using this case as an example of how ISDS can undermine indigenous rights.
Following the US withdrawal from the original Trans-Pacific Partnership (TPP-12), a rebadged version of the agreement has emerged, known as the TPP-11. The TPP-11 suspends, but does not delete, some of the worst clauses on longer monopolies on biologic medicines, but these could be resurrected if the US returns to the agreement. The TPP-11 still contains the following provisions, all of which contradict Labor’s Trade Policy Platform:
July 31, 2018: The twenty-third round of the 16-nation Regional Comprehensive Economic Partnership talks over 10 days in Bangkok managed to resolve two more chapters, one on customs procedures and trade facilitation and one on government procurement. This means only four out of twenty chapters have be agreed, but there is still pressure to complete the deal by the end of the year.
Media Release: July 30, 2018: “AFTINET will present evidence today to a Senate inquiry that the TPP-11 increases corporate rights at the expense of people’s rights and the environment and should not be implemented,” AFTINET Convener Dr Patricia Ranald said today.
July 25, 2018: The US Trump administration is escalating its America First strategy of using its power as the world’s strongest economy to get more benefits for US corporations from individual trading partners, in the hope of domestic political advantage in the mid-term Congressional elections due in November 2018. But there are long-term consequences for the global economy and the global trading system.
July 23, 2018: As RCEP negotiators meet in Bangkok, Leena Manghaney from Doctors without Borders (MSF) writes in the Bangkok Post that, after six years and 23 rounds of negotiations, Japan and South Korea are still proposing stronger monopolies in addition to the standard 20 year monopoly for new medicines.