this was sent to me by a friend. It makes interesting reading…

TPPA – The mother of all Trade agreements and why you should care

The Trans Pacific Partnership Agreement is being negotiated in secret by 12 countries including the US, Australia and NZ. “Six hundred US corporate advisors have had input into the TPP. The draft text has not been made available to the public, press or policy makers…..The chief agricultural negotiator for the US is the former Monsanto lobbyist, Islam Siddique.”

It has the potential to remove Australian Governments’ power to create laws.

It is intended as a ‘docking agreement’ where countries would be required to bring domestic policies in line with the TPP agreement. This would allow “multinationals to not only take over large sectors of our critical economic infrastructure (in energy, water, agriculture, fisheries, transportation, communications, tourism, financial services, education and health) but to oppose democratic public interest regulation of those areas by invoking greater rights than those available to local businesses.”

The US is pushing for an “investor state dispute settlement” (ISDS). This would allow foreign companies to sue Australian Government for the loss of potential, not actual, profits. The case would by-pass Australian courts and be heard by a panel of three trade arbitrators in the US.

Our government cannot initiate suits before this tribunal. There is “no requirement to take into account constitutional, legislative or international law obligations, or social and environmental benefits.” There is no right of appeal to the decision made by the tribunal.

“New Labor Trade Minister Richard Marles has confirmed Australia’s trade policy remains against such excess investor rights chiefly because of their capacity to impede our sovereign capacity for governance in the public and environmental interest…..

Coalition trade spokeswoman Julie Bishop has indicated her party is more open to such excess investor rights in the TPPA. The issue creates a major policy distinction between the parties.”

Currently the Federal Government “has the power to protect Australia from the negative impacts of coal mining and coal seam gas.”

This will change if the TPP ISDS is passed. The 1994 North American Free Trade Agreement between Canada, US and Mexico has such a clause. Now a US firm is suing the Quebec Government for $250 million as they have suspended a shale gas project due to public and environmental concerns.