Trade and Investment
Civil society organizations from Indonesia, Philippines, and Europe criticized the European Union’s Multilateral Investment Court proposal as an attempt to multilateralise the investor-State dispute settlement (ISDS) mechanism and establish a global corporate court system.
EU Trade Commissioner Cecilia Malmstrom made a strong pitch for a global investment court at the meeting between the EU and ASEAN Economic Ministers held in Manila last week.
The European Commission proposal for a multilateral mechanism to settle investor-state disputes (ISDS) – publicly branded as a Multilateral Investment Court – would take us down that second path. It threatens to forever lock-in the highly controversial ISDS system that only benefits corporations.
This proposal is part of the negotiations that the EU is holding with Indonesia, Philippines and Myanmar. Furthermore, the EU has presented it to as many as 40 non-EU governments during the World Economic Forum at Davos and also in a meeting last December in Geneva.
Photo caption: Trade activists protesting the 17th round of negotiations for the Regional Comprehensive Economic Partnership Agreement (RCEP) in Kobe, Japan. 27 February 2017. Photo by Shoko Uchida.
1 March 2017
Trade Justice Pilipinas a broad platform campaigning for just trade and investment policies expresses its opposition to and calls on the public to resist international economic agreements like Regional Comprehensive Economic Partnership Agreement (RCEP) and other new generation FTAs that advance corporate agenda over peoples rights and welfare.
TRADE JUSTICE PILIPINAS
c/o Focus on the Global South. 19 Maginhawa Street, UP Village, Diliman, Quezon City. +6323552578
MAKATI CITY, Philippines – On Valentine’s Day, around 100 members of the ASEAN Civil Society Conference/ASEAN Peoples’ Forum 2017-Philippines National Organizing Committee (NOC) wearing red shirts marched to the Department of Trade and Industry (DTI) to deliver the Philippine CSOs’ position and demands on the ASEAN Economic Community (AEC).
The recent investment arbitral decision on the Baagerwerken Decloedt En Zoon (BDZ) versus the Philippines case in favor of the Belgian corporation should be a wake up call to the Duterte administration on the dangers posed by free trade and investment agreements to our national interest.