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Trans Pacific Partnership resuscitated: companies can still sue governments

Controversial Pacific trade pact revived, Perth Now, Lisa Martin with Reuters | AAP, January 24, 2018   The Trans-Pacific Partnership trade pact, which had been on life support since America’s withdrawal, has finally been resuscitated.

The 11 remaining countries are expected to sign a tweaked agreement on March 8 in Chile, Trade Minister Steve Ciobo has confirmed.

Canada threw a spanner in the works at the APEC summit in Vietnam last year derailing efforts to finalise the deal.

Ottawa has since been coaxed back to the fold following lobbying efforts from Tokyo and Canberra……….The TPP 11 is made up of:

Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam……..

Some opponents of the TPP fear it opens doors for companies to sue governments for changing policies if it harms their investments. The deal has a controversial investor state dispute settlement clause.

* China is not part of the TPP and is trying to get up a rival deal with seven TPP countries, including Australia, and eight others.

The Regional Comprehensive Economic Partnershp is much narrower and less ambitious.https://www.perthnow.com.au/business/controversial-pacific-trade-pact-revived-ng-s-1822008

January 24, 2018 - Posted by | 2 WORLD, politics international

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