NZ First Pulls Reins on Tppa ‘Trojan Horse’ Nightmare

New Zealand First is taking emergency measures to axe the Trans Pacific Partnership Agreement’s (TPPA) ‘Trojan Horse’ provisions, which will allow foreign corporations to sue the New Zealand government for billions of dollars.

“New Zealand First is bringing forward the Fighting Foreign Corporate Control Bill to ban our government from signing any treaty, which gives foreign corporates the right to seek compensation if they believe our laws affect their business,” says Fletcher Tabuteau, New Zealand First Spokesperson for Commerce and Trade.

“Leaks from the Trans Pacific Partnership Agreement negotiations show it’s full of nasty details. One of the nastier provisions puts the interests of foreign corporates ahead of the New Zealand public.

“It is not just the TPPA but the National government signed us all up to the New Zealand-Korea Free Trade Agreement which has ‘an investor clause.’

“This is wrong. New Zealanders must rule our country, not foreign businesses. New Zealand absolutely relies on our exports so trade is essential but the price of trade agreements shouldn’t mean selling our soul.

“New Zealand First’s Bill will stop provisions known as investor-state dispute settlements.

“It is wrong that the National government maintains a shroud of secrecy around TPPA negotiations, especially when they go well beyond being just a trade agreement. National must do right by New Zealanders and let them know just what this government is prepared to give away to overseas corporates.

“New Zealand First’s Fighting Foreign Corporate Control Bill will mitigate the worst of these new age trade deals,” Mr Tabuteau said.

ENDS

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