RCEP trade agreement must not allow corporations to sue governments

The New Zealand Government should take controversial and outdated Investor State Dispute Settlement (ISDS) provisions off the table in the Regional Comprehensive Economic Partnership (RCEP) trade negotiations in Auckland this week, the Green Party said today.

Trade Minister Todd McClay has been reported as saying that RCEP should include ISDS provisions, which allow foreign corporations to sue governments in secretive extra-judicial tribunals.

“ISDS rules that allow foreign corporations to sue governments have no place in 21st century trade deals,” Green Party trade spokesperson Dr Kennedy Graham said.

“ISDS rules can have chilling effects on governments and even local councils, when the threat of potential litigation stops them from doing what’s right for their citizens.

“ISDS is about much more than trade, it’s about rewriting the rules of international relations to take power away from governments and give it to corporations.

“India is against ISDS in RCEP and New Zealand should be too.

“The European Union has been very clear that ISDS is outdated and we need new ways to balance the protection of investors’ rights with the democratic right of governments to govern in their people’s best interests.

“It’s good to see the New Zealand Government trying to be more open about RCEP than it was for the TPPA. I hope this newfound transparency will extend throughout the RCEP negotiations.

“Once all the countries’ negotiating positions are on the table, there is really no good reason why those negotiating positions shouldn’t also be made public,” said Dr Graham.

This entry was posted in Investor state dispute, Regional Comprehensive Economic Partnership, Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s