… provisions in Trade deals

The Greens spokesperson for Trade, Senator Peter Whish-Wilson says that when it comes to failing to protect the public interest from corporations being given rights to sue Australia, there is no difference between Labor and Liberal.

Senator Whish-Wilson said, “Despite the overwhelming weight of evidence presented and submissions received for the inquiry into the Trade and Foreign Investment (Protecting the Public Interest) Bill 2014, Labor and Liberal have used their numbers on the Foreign Affairs, Defence and Trade Committee to recommend that the Bill should not pass.

“Our dissenting report drew on the mass of credible evidence presented to the committee that litigation using ISDS has proliferated in recent times and is likely to increase into the future.

“Australia is already being sued under ISDS over the tobacco-plain packaging case and with our government gung-ho on including them in current and future trade deals like the Korea-Australia Free Trade Agreement (KAFTA) and the Trans Pacific Partnership agreement, litigation is only likely to increase.

“Including ISDS provisions in our trade deals leaves us vulnerable to being sued by foreign corporations for simply legislating to protect the environment or internet use, if those laws affect corporate profits.

“There is no evidence that ISDS clauses have any economic benefits for trade or investment, however the risks of using them are clear and supported by evidence and numerous case studies.

“Trade Minister Andrew Robb has refused to engage with any of the public concerns about these clauses, dismissing critics as scaremongers.

“However, as result of this Bill the chorus of concern has widened beyond civil society to include the Chief Justice of the High Court, Chief Justice French AC, who recently called on the judiciary to involve themselves the debate over this issue.

“It was the previous government’s policy not to include ISDS clauses in trade deals but it appears by not supporting this Bill that Labor have back-tracked on this view.

The former Trade Minister Craig Emerson commented in 2012, “We do not and will not support investor-state dispute settlement provisions… This is government policy… It’s the result of a cabinet decision in April last year, reaffirmed at the (ALP) national conference.”*

“I hope to bring this Bill to full debate in the Senate. Given the public have so much to lose from these provisions, the public have a right to hear why the major parties are choosing to back foreign corporations over the parliament’s right to legislate,” Senator Whish-Wilson concluded.
Greens spokesperson for Trade, Senator Peter Whish-Wilson