« Guest Blog - "The Cautionary Tale of HIH: 'Independent' Directors as Lemons" | Blog home | Submission to the Senate Inquiry into the Commonwealth’s Treaty Making Process »

business learning training articles new learning business training opportunities finance learning training deposit money learning making training art loan learning training deposits make learning your training home good income learning outcome training issue medicine learning training drugs market learning money training trends self learning roof training repairing market learning training online secure skin learning training tools wedding learning training jewellery newspaper learning for training magazine geo learning training places business learning training design Car learning and training Jips production learning training business ladies learning cosmetics training sector sport learning and training fat burn vat learning insurance training price fitness learning training program furniture learning at training home which learning insurance training firms new learning devoloping training technology healthy learning training nutrition dress learning training up company learning training income insurance learning and training life dream learning training home create learning new training business individual learning loan training form cooking learning training ingredients which learning firms training is good choosing learning most training efficient business comment learning on training goods technology learning training business secret learning of training business company learning training redirects credits learning in training business guide learning for training business cheap learning insurance training tips selling learning training abroad protein learning training diets improve learning your training home security learning training importance

As part of our joint ARC-funded research project on investment treaty dispute resolution, also involving Shiro Armstrong (ANU) and Leon Trakman (UNSW), Jurgen Kurtz and I have completed a note on Australia's recent policy and political debate over investor-state arbitration, which ultimately was not provided for in the Australia-Japan FTA signed last year (as explained here).

The complex and ongoing saga in Australia may also impact on pending negotiations for an expanded Trans-Pacific Partnership Agreement and (ASEAN+6) Regional Comprehensive Economic Partnership FTA, each of which involves Japan as well as Australia.

Our paper will be published in early 2015 in the ICSID Review, with a longer version also at http://ssrn.com/abstract=2561147. Below is an outline.

I. Introduction
II. Opposition to ISDS from the (Political) Left & (Economic) Right
III. The ‘Anti-ISDS Bill’ and KAFTA before the Australian Parliament
IV. Conclusions

Abstract: This paper succinctly summarises Australia’s evolving policy debate over Investor-State Dispute Settlement (ISDS). Part I sketches some regional and global context. Part II briefly revisits the Productivity Commission’s report of 2010, and longer-standing concerns from the political left, which coalesced in the 2011 Gillard Government Trade Policy Statement eschewing ISDS in all future investment treaties or Free Trade Agreements (FTAs).

Part III focuses on the new Abbott Government’s policy since 2014, which reverts to a case-by-case assessment – resulting in ISDS being omitted from Australia’s FTA with Japan, but being included in its bilateral FTAs with Korea (KAFTA) and China. In Parliament, the main opposition Labor Party continues to voice concerns about ISDS, but voted with the Abbott Government on legislation implementing KAFTA, which was then ratified. Labor Party members of a Senate Committee also sided with ruling Coalition members in recommending against enactment of a broader “anti-ISDS Bill”, proposed by a Greens Party Senator to legislatively preclude ISDS provisions in future treaties, albeit primarily on the basis that this would excessively constrain the executive branch’s responsibility to negotiate international agreements.

Part IV suggests that Australia’s major political parties now have an opportunity to develop a shared and sustainable policy stance on this vexed issue, underpinned by the recent parliamentary inquiries and media attention as well as ongoing empirical and theoretical research.

About the Blog

Japanese Law in Asia-Pacific Socio-Economic Context
More