Report addresses TPP investor-state dispute concerns

Report addresses TPP investor-state dispute concerns, welcomed by Chamber

Wellington Chamber of Commerce welcomes an ExportNZ report that finds the Trans Pacific Partnership would not allow foreign control over New Zealand’s law-making ability.

Chief Executive John Milford says claims that New Zealand’s sovereignty would be at risk by investor-state dispute settlement (ISDS) provisions in the yet-to-be-signed agreement have been at the centre of opposition to the agreement.

“This report makes it clear that there is very little risk from investor disputes, and that such claims have been overstated, and I welcome that.

“Those sorts of provisions are common to ensure investors are treated fairly when dealing with unpredictable governments, and New Zealand certainly does not fall into that category.

“New Zealand will still be able to make laws as it sees fit.

“Hopefully this report will silence some of the wild claims being made around the TPP, and we can look forward to further progress on it in the near future.

“It’s an agreement that’s vital if New Zealand is to take advantage of the trade opportunities being presented by the rapidly growing markets of Asia and the Pacific.”

ENDS

© Scoop Media