With today’s release of the Korea-Australia Free Trade Agreement, the Greens are going on the record that they will not support any Free Trade Agreements to pass the parliament that include Investor State Dispute Settlement (ISDS) provisions.
Senator Whish-Wilson said, “This Free Trade Deal is designed to supercharge coal and gas exports to Korea by multi-national corporations at the expense of local industries and local communities.
“And with the inclusion of the controversial ISDS clauses, the Government has put the profits of the powerful corporations ahead of people.
“Last weeks the Greens and the Senate called for the Government to release their modelling of the winners and losers from this deal.
“Unlike the European Trade Commission, our Government is too arrogant to consult with those in the community who have concerns about ISDS provisions.
“All Australian parliamentarians should look closely at what powers they are handing over to shady international arbitration courts by signing up to ISDS provisions.
“The Productivity Commission sounded a warning over including ISDS provisions in trade agreements because of the impacts through regulatory chilling.
“No ISDS carve-outs or exemptions in existing trade agreements around the world have prevented governments being sued by corporations for simply making legislation in the name of their community.
“The Greens will not be supporting KAFTA in its current form because of the likely increase in coal and gas exports and because of the ISDS provisions.
“We should not trade away our sovereign rights and responsibilities to provide more coal and gas to Korea,” Senator Whish-Wilson concluded.
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Media contact: Tim Beshara – 0409164603