New Video: The Dark Side of Investment Agreements
Global corporations want to use trade and investment agreements to give them special rights to sue governments if their investments have been ‘harmed’ by a law or policy. These disputes are heard by international investment tribunals, which give priority to corporate interests.
Under the North American Free Trade Agreement, US corporations have sued governments for millions of dollars over legitimate health and environmental legislation.
Philip Morris, a US–based global company, moved some investments to become a Hong Kong company so it could sue the Australian government over its tobacco plain packaging legislation, using an obscure 1993 Hong Kong – Australia investment treaty.
The Australian Government is fighting the Philip Morris case. This experience and our campaigning means the Australia government now opposes special rights for investors to sue governments in trade agreements. We want them to stick to this policy.
Check out The Dark Side of Investment Agreements video, produced by our friends at the Transnational Institute, to learn more.