Give TPP a chance - it’s imperfect but no threat to democracy
Uncategorised
Monday, 28 March 2016
Flawed though it may be, the Trans Pacific Partnership agreement (TPP) is advantageous to both Australia and New Zealand not only in terms of national economics but also for their freight sectors.
As discussed in an earlier report, a seemingly-unbiased academic assessment of the short-term benefits showed Australia was not listed among the top regions and NZ was only a little better. But we cannot afford not to be part of the agreement, especially with more Asian countries indicating an intention to become involved.
While China may not join for a while, it seems likely that its giant economy – already intertwined with NZ and Australia through FTAs – will become a signatory eventually. And as former trade minister Andrew Robb said recently, when combined with the parallel Regional Comprehensive Economic Partnership, which includes China, a strong platform is being built for a unifying set of trade rules in Asia-Pacific.
This reduces costs, makes it easier to trade and increases certainty for exporters and importers.
Australia and NZ will prosper not only from trade but through our regional transport and logistics capabilities. And as Asian economies build up sustainable speed we will gain further ground in supply of food and other commodities.
TPP got off to a bad start with the general public because of its absolute secrecy, which led to swirling rumours of democratic incursions and personal restrictions. Unfortunately this is an essential factor of high-level negotiations if an agreement acceptable to all is to be delivered with a reasonable expectation of progressing.
Perhaps the most worrying aspect of the protests is the spread of misinformation.
For example, the Investor State Dispute Settlement (ISDS) mechanism is portrayed as an evil (to use one of the more palatable descriptions) threat to national democracy when it is anything but. Not only are there similar provisions in other FTAs but there is no erosion of sovereignty other than the give-and-take required from membership of the United Nations or any other international relationships.
ISDS is narrowly drafted, will be played out in a neutral environment, is only likely to be triggered for the most egregious behaviour and is far preferable to fighting out an issue in a local court.
It is a straightforward means of arbitration, with areas such as public health, safety and environment precluded. NZ even negotiated protection of its obligations under the Treaty of Waitangi.
Give TPP a chance. It might not gain ratification – that might swing on whether Donald Trump secures the US presidency – but fighting it with misinformation is against the national interest.
- Kelvin King
Give TPP a chance - it’s imperfect but no threat to democracy
Uncategorised
Monday, 28 March 2016
Flawed though it may be, the Trans Pacific Partnership agreement (TPP) is advantageous to both Australia and New Zealand not only in terms of national economics but also for their freight sectors.
As discussed in an earlier report, a seemingly-unbiased academic assessment of the short-term benefits showed Australia was not listed among the top regions and NZ was only a little better. But we cannot afford not to be part of the agreement, especially with more Asian countries indicating an intention to become involved.
While China may not join for a while, it seems likely that its giant economy – already intertwined with NZ and Australia through FTAs – will become a signatory eventually. And as former trade minister Andrew Robb said recently, when combined with the parallel Regional Comprehensive Economic Partnership, which includes China, a strong platform is being built for a unifying set of trade rules in Asia-Pacific.
This reduces costs, makes it easier to trade and increases certainty for exporters and importers.
Australia and NZ will prosper not only from trade but through our regional transport and logistics capabilities. And as Asian economies build up sustainable speed we will gain further ground in supply of food and other commodities.
TPP got off to a bad start with the general public because of its absolute secrecy, which led to swirling rumours of democratic incursions and personal restrictions. Unfortunately this is an essential factor of high-level negotiations if an agreement acceptable to all is to be delivered with a reasonable expectation of progressing.
Perhaps the most worrying aspect of the protests is the spread of misinformation.
For example, the Investor State Dispute Settlement (ISDS) mechanism is portrayed as an evil (to use one of the more palatable descriptions) threat to national democracy when it is anything but. Not only are there similar provisions in other FTAs but there is no erosion of sovereignty other than the give-and-take required from membership of the United Nations or any other international relationships.
ISDS is narrowly drafted, will be played out in a neutral environment, is only likely to be triggered for the most egregious behaviour and is far preferable to fighting out an issue in a local court.
It is a straightforward means of arbitration, with areas such as public health, safety and environment precluded. NZ even negotiated protection of its obligations under the Treaty of Waitangi.
Give TPP a chance. It might not gain ratification – that might swing on whether Donald Trump secures the US presidency – but fighting it with misinformation is against the national interest.
