Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 

Is NZ about to accept investment disputes in RCEP?

For immediate release

Is NZ about to break its promise again by accepting investment disputes in RCEP?

“Newly elected Prime Minister Jacinda Ardern called investor-state dispute settlement (ISDS) in international trade and investment agreements ‘a dog’, and promised no ISDS in future agreements.”

“The government soon broke that promise with the Trans-Pacific Partnership Agreement, pretending that side-letters with a handful of the parties had an equivalent effect”, recalls Auckland University law professor Jane Kelsey.

That allows foreign investors from countries like Japan, Singapore or Canada to challenge a domestic policy or law because it negatively impacts on the value or future profits of its investment, and enforce those pro-investor rules before controversial offshore arbitral tribunals that have no appeal and are accountable to no one.

One ISDS tribunal recently awarded USD5.8 billion against Pakistan for cancelling a mining permit allegedly because of corruption – almost exactly the amount of the IMF bailout intended to rescue the impoverished country.

“The next cab off the rank is the Regional Comprehensive Economic Partnership (RCEP), due to be concluded this year. That includes countries like China, Japan, South Korea, India and Singapore, whose investors will gain even more rights to challenge New Zealand’s sovereign rights to decide our own laws.”

Professor Kelsey was at the negotiating round in Melbourne in early July. Officials met again in China this week for intensive negotiations on the investment chapter.

RCEP trade ministers are due to meet in Shanghai on Friday to decide on matters still outstanding in this secretive negotiation, including the investment rules.

“There is a high risk that New Zealand will capitulate again and accept, at best, a footnote that allows it to object, but would still allow the investor to sue New Zealand in this expensive and discredited system of international investment arbitration.”

Professor Kelsey called on David Parker to “assure New Zealanders that he won’t sell us out again by accepting ISDS and giving foreign investors even more power to intimidate governments from acting in the national interest.”


© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Housing Issues: Fairer Rules For Tenants And Landlords

The key changes include:

- Limit rent increases to once every 12 months and banning the solicitation of rental bids by landlords.

- Improve tenant’s security by removing a landlord’s right to use no cause terminations to end a periodic tenancy agreement...

- Improve compliance with the law by increasing financial penalties and introducing new tools to take direct action against parties who are not meeting their obligations. More>>

 
 

Gordon Campbell: On The Farming Sector’s Persecution Complex

The narrative that our farmers are ‘doing it tough’ plays into a number of wellworn stereotypes ... More>>

ALSO:

corrections, prisonCorrections: Independent Review Of Prisoner Mail Management

The independent review into the prisoner mail system has today been released, with Corrections accepting all 13 recommendations and making a number of changes to strengthen the management of prisoner mail. More>>

ALSO:

IPCA: Unlawful Detention Of Teenager; Influence Of Investigation

The Independent Police Conduct Authority has found that former Inspector Hurimoana Dennis unlawfully detained an Auckland teenager in 2015, and improperly influenced the outcome of a criminal investigation into his own son in 2014. More>>

ALSO:

SOP For Gun Bill: New Measures For Modified Pistols

The new controls will • Prohibit short-barrelled semi-automatic rifles which currently are defined as pistols because they are shorter than 762 millimetres. • Introduce tighter controls over pistol carbine conversion kits… • Prohibit firearms which contain a part known as a centrefire lower receiver… More>>

'Culturally Arranged Visitors Visa': Fix For Marriage Visa Issue

Earlier this year Immigration New Zealand issued guidance to front line Immigration staff that made it significantly harder for people to get visas to visit their partner. That guidance no longer applies with today’s announcement. More>>

ALSO:

Conflict Of Interest For Key Member: Budget Data Breach Investigation Shut Down

State Services Commissioner Peter Hughes has today terminated the investigation into how Budget-sensitive material was accessed at the Treasury and appointed a new inquirer. More>>

RNZ Report: Mysterious Foundation Loaning NZ First Money

A mysterious foundation that loans money to New Zealand First is under scrutiny, with a university law professor saying although it's lawful, it fails to provide the transparency voters need in a democracy. More>>

Justice: Criminal Cases Review Commission Established

“We’ve seen how our justice system can very occasionally get things spectacularly wrong, even with rights of appeals, and there needs to be a chance for the innocent on the right grounds to seek a final review of their case...” More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels