In the context of the multi-party Trans-Pacific Partnership trade talks, American business is seeking to secure an investor-state dispute settlement mechanism in the agreement’s investment provisions. USCIB and our partners in other business associations believe that a rules-based system for cross-border investment, backed by an investor-state dispute mechanism, provides the certainty that global business requires to lower risk and operate more efficiently in today’s global economy.
In April, the government of Australia issued a new trade policy blueprint statement that categorically rejects the inclusion of investor-state dispute settlement in any future trade agreement that Australia negotiates, notwithstanding its prior inclusion in Australia’s free trade agreements with Singapore, Thailand, Chile, and the ASEAN countries.
It appears that all parties to the Trans-Pacific Partnership negotiations, with the exception of Australia, favor inclusion of investor-state mechanism. Consequently, USCIB is seeking to work with the Australian business community to promote greater awareness of the benefits of such a mechanism for trade and investment across the trans-Pacific region. USCIB President and CEO Peter M. Robinson recently wrote to the head of the Australian Chamber of Commerce and Industry urging support for an investor-state dispute settlement mechanism.
To read the USCIB brief on investor-state dispute settlement, click here.