The Department of Foreign Affairs and Trade will appear at the opening public hearing today for an Australian parliamentary inquiry looking at the merits of expanding the membership of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. The CPTPP agreement signed in 2018 is a trade bloc of 11 countries that includes Australia and is an export market of 500 million consumers worth nearly $14 trillion.
This article was originally published at bloggerme.com.au Since Tony Abbott was elected, Australia has progressed with two trade agreements that place Australia at risk of Investor-State Dispute Systems (ISDS) — one already signed with Korea (which definitely includes ISDS) and another close to agreement with Japan (which may include an ISDS). ISDS creates a parallel legal system that allows foreign investors to sue Australian taxpayers if Australia passes laws that reduce the value of their investments or their profits.
Will our sovereign rights be signed away with the Trans-Pacific Partnership (the TPP) Agreement? Matthew Mitchell examines the likelihood in this article. Originally posted on the Australian Independent Media Network