Google and Facebook could sue the government for billions of dollars over a proposed law to force the digital giants to pay publishers for displaying news content, by seizing on investment clauses in the Australia-Singapore trade agreement.
El Acuerdo para la Promoción y Protección Recíproca de las Inversiones permite la transferencia libre de capitales y acceso al arbitraje internacional para la solución de controversias.
Organisations representing millions of Australians wrote to Labor MPs last week asking them to implement their policies against harmful proposals including special rights for foreign investors to sue governments for millions over domestic laws.
The Australia-Hong Kong Free Trade Agreement and separate Investment Agreement signed still give special rights to foreign investors to bypass national courts and sue governments for millions of dollars in international tribunals
It has taken a second FOI case and another two years to reveal that Australian taxpayers were only awarded half of the costs of defending Australia’s tobacco plain packaging laws against tobacco giant Philip Morris in March 2017.
Political party says the newly signed Trans-Pacific Partnership trade pact, which contains similar clauses to the Hong Kong deal, could prompt more costly challenges in The Hague
Tobacco giant Philip Morris has been ordered to pay the Australian government millions of dollars after unsuccessfully suing the nation over its world-first plain-packaging laws.
Despite recent criticism from some quarters concerning the use of investment treaties and free trade agreements, the Chinese investment treaty system remains firmly in place.