Philip Morris asserts that fair and equitable treatment includes a right to a “stable and predictable regulatory framework” as well as rights under treaties in addition to customary international law.
Tobacco giant Philip Morris suing the Australian government for introducing plain packaging laws for tobacco should send shockwaves through this country as it seeks a free trade deal involving the US, says an academic critic of the deal.
A top United States trade official says New Zealand is ready to accept investor-state disputes in the nine-country TransPacific Partnership trade agreement (TPP).
Big tobacco is hoping a new multilateral free trade agreement will enable it to sue the Federal Government if Australia introduces plain packaging for cigarettes in mid-2012 as planned.