Contentious Investor State Dispute Settlement (ISDS) provisions remain in the revised TPP-11 agreement to be signed on 8 March in Chile.
ISDS provisions allow a foreign investor to sue a government if a change in national policy affects the profitability of their investment. For business, this concept provides cream on the foreign investment cake, reducing sovereign risk.
But ISDS is also a classic example of corporate business advancing its interests at the expense of civil society and the community more generally. While the concept comes in many forms, and the exact wording of the version in the new TPP-11 remains to be seen, it works as a constraint on the ability of governments to legislate in future as issues, circumstances and community attitudes shift, which inevitably and necessarily they will.
FULL BLOG at John Menadue's Pearls and IrritationsHERE
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TPP-11 is slated for signing in Chile on March 8, and then Australia's parliament will review the deal and consider the implementing legislation.
The fight is far from over, and not all opposition parties will be supporting the legislation.
The government does not have a majority in the Senate, so the first step is to secure a Senate Inquiry. We have written a message to Senators, which you can send and share using the link on our website.
In other news, AFTINET have moved offices to 7/321 Pitt Street, Sydney 2000. Our phone number (02 9699 3686) and email address (email@example.com) remain the same. Please note this for your records.
AFTINET Fair Trade Bulletin - Inside the January 2018 edition...