[LINK] Free Trade Agreements

[Stephen Loosley]

SUBMISSION TO THE SENATE REGARDING THE KOREA FREE TRADE AGREEMENT (Summary)

http://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Foreign_Affairs_Defence_and_Trade/Korea-Australia_Free_Trade_Agreement/Submissions

Like many people I am deeply concerned that our government is signing a Free Trade Agreement with Korea that contains an Investor State Dispute Settlement Clause.

Such a clause signs away many of our sovereign rights.

Essentially it allows a commercial entity, most likely a multinational corporation, to sue our government if it takes any action that can be deemed to prevent that entity from making a profit.

Apart from an ISDS being able to interfere with government decision making, it also strips away the right of Australians to have a say in protecting their communities from a harmful development.

When a corporation is owned by people residing in another country, these people know that they will never have to live with the consequences of their profit taking.

No matter what destructive outcomes may follow, an ISDS strips away protections. The TPP has stalled because so many nations, sensibly, refuse to have anything to do with an ISDS inclusive deal.

Any elected member who does not object to ANY trade deal that includes an ISDS is condemning future generations, and acting as a traitor to Australian sovereign rights.
Submitted by:
Joy Ringrose
A Korea-Australia Free Trade Agreement Submissions