Renewed Call for Transparency

NXT Senator Rex Patrick has renewed his call on Federal Trade Minister Steven Ciobo to release the Federal Government's full cost-benefit analysis of the 11 nation Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) following release of the new text.

"Today’s release is only the first step in proper scrutiny of this agreement," Senator Patrick said.

“We still need access to any further side letters, beyond those already released, and the cost-benefit analysis that the Government is relying on to suggest that signing the agreement is in the national interest. Let the Australian business community and general public see what the Government has agreed to.

"Trade Minister Ciobo has made many ambitious claims about the potential trade benefits for Australia, but he remains most reluctant to reveal the underlying research and analysis that may, or may not, support the Government's enthusiasm for another free trade agreement.

"When I questioned the Government in the Senate a week ago, Finance Minister Mathias Cormann, representing Minister Ciobo, chose to cherry-pick the good news and completely ignore the possibility of any downside. The Trade Minister has done the same today."

As to what has actually been revealed today, Investor-State Dispute Settlement (ISDS) provisions remain in the CPTPP (although it is noted ISDS is now excluded for disputes between Australia and New Zealand). 

“These provisions are an affront to our sovereignty," said Rex.

In 2012 the High Court determined that legislation relating to plain packaging of tobacco products was constitutional. That did not deter Philip Morris from challenging these laws in the Permanent Court of Arbitration in The Hague using ISDS provisions in the 'Agreement between the Government of Hong Kong and the Government of Australia for the Promotion and Protection of Investments'.

"Thankfully Australia won the case on a well-argued jurisdictional technicality, but not after spending a reported $50 million in legal costs," said Rex.

"If ISDS is not acceptable in the context of the Australia-New Zealand agreement, why has the Government accepted them in the agreements with the remaining nine countries?

"The Trade Minister should not only release the Government's own assessments of the economic implications of the CPTPP, they should also release all the advice they have received on the implications of the ISDS provisions for Australia.

"These matters will need to be pursued, not only by the Joint Committee on Treaties but also by an appropriate Senate Committee to ensure this agreement gets the critical scrutiny it needs."

NXT will not be supporting any CPTPP enabling legislation until it has done a full analysis on all aspects of the agreement and are satisfied entering into the agreement is in the national interest.

“Delaying the release of information will only delay our analysis”, said Rex.