“In other words, the Key government is happy for pharmaceutical firms in the US, Australian banks or Singapore-based Brierley Investments to sue the New Zealand government for millions in compensation if they think new laws or policies are unfair or unreasonable or erode their profitability”, said Professor Kelsey.
In November last year, Prime Minister John Key described as “far-fetched” the idea that investors could sue the New Zealand government directly in a secret international tribunal to enforce rules in the proposed Trans-Pacific Partnership Agreement (TPPA).
This week, US trade negotiator Barbara Wiesel said that was no longer New Zealand’s position, according to TPPA critic Professor Jane Kelsey.
In response to questions about New Zealand and Australian positions during a briefing to civil society in Washington on 31st January Ms Wiesel said “New Zealand had retracted the Prime Minister’s statement. It is not their position.”