Andrew Robb – Fool


Trade Minister Andrew Robb is confident the Australian government won’t be sued under investor-state dispute clauses in the Trans-Pacific Partnership deal.

“The Philip Morris tobacco company is currently suing the Australian government over its tobacco plain packaging legislation, using an obscure 1993 Hong Kong- Australia investment treaty. Philip Morris is actually a US-based company, but could not sue under the US-Australia Free Trade Agreement, because public opposition kept this clause out of the agreement. Philip Morris rearranged its assets to become a Hong Kong investor in order to use an obscure treaty. This shows how giant global companies can abuse such clauses in trade agreements,’’ said Dr Ranald.