In the wake of the signing of the CPTPP, the Green Party is calling on all parties in Parliament to rule out signing any future trade deals with ISDS clauses.
“No future governments should sign trade agreements with ISDS clauses in them,” said Green Party trade spokesperson Golriz Ghahraman.
“ISDS clauses are a threat to our sovereignty, to our people and to our environment. We are giving foreign investors and multinational corporates the right to sue us for future progressive law change that benefits New Zealand, if it hurts their profits. This is a right that ordinary Kiwis don't have.
“We’re calling on all parties, no matter who’s in government, to not sign up to any trade deals that contain investor-state clauses in the future.
“It’s disappointing to see the side letters, agreements that exclude ISDS in the CPTPP, are with relatively small nations.
“Investor-state disputes are unlikely to come from those nations, whereas large multinational companies that have a presence in bigger countries, like Japan and Chile, are still free to sue our government for access.
“We know that corporates can use their registered bases to sue us from any one of the nations without the side letters. So we are left very vulnerable.
“The Green Party is for trade that serves the interests of New Zealand as well as the pressing problems facing our planet and our people. Unfortunately the CPTPP isn’t that,” said Ms Ghahraman.