Foreign Investment Protection and Promotion Agreement

Thu, 2012-12-13 11:05Carol Linnitt
Carol Linnitt's picture

Van Harten: Canada "Recklessly" Entering Trans-Pacific Partnership, FIPA

Last week Foreign Affairs and International Trade Canada announced Canada had “officially joined the latest round of Trans-Pacific Partnership (TPP) trade negotiations” after more than two and a half years of talks by previously engaged nations. The 15th round of talks, involving Australia, Brunei, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, the U.S. and Vietnam, wrapped up yesterday in Auckland. 

The TPP has already been the cause of significant concern in the U.S. where citizen groups and elected leaders have argued the agreement is shrouded in secrecy, leaving the American public to speculate about its consequences. This summer, after members of Congress complained corporate access to the trade documents superseded their own, leaked portions of the agreement began to circulate online. 
 
At the time Lori Wallach, director of Public Citizen's Global Trade Watch, said, “the outrageous stuff in this leaked text may well be why U.S. trade officials have been so extremely secretive about these past two years of [trade] negotiations.”
 
During those two years, while Canada was vying for a seat at the TPP table, America made arguments that seemed to anticipate the furor Canadians would soon feel after the announcement of the Canada-China Foreign Investment Protection and Promotion Agreement, or FIPA
 
Much like FIPA, the TPP grants unprecedented power to corporate entities with access to international tribunals that have the authority to overrule Canadian decisions regarding domestic policies that may apply to environmental regulation or reform, finance and labour policies and First Nations rights.
 
International investment lawyer and trade agreement expert, Gus Van Harten told DeSmog that Canada is currently on track to become “the most locked in developed country in the world in investor-state arbitration.” He added, Canada is “proceeding recklessly” into this enfeebling agreement which will give “almost all foreign corporations in the country exceptional leverage to pressure governments behind closed doors.”
 
The Harper government is selling out Canada's long term sovereignty and prosperity in what appears as a thoughtless gamble, without so much as a financial risk assessment. As Van Harten puts it below, “We do not intend to slip on the sidewalk in winter, but we still check for ice.”
 
I asked Professor Van Harten 5 questions about the TPP and its relation to the politically-contentious FIPA
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