Trade Agreements: Australasia

Department for International Trade written question – answered on 25th May 2021.

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Photo of Gareth Thomas Gareth Thomas Shadow Minister (International Trade)

To ask the Secretary of State for International Trade, what assessment she has made of the potential (a) merits and (b) risks of including investor state mechanisms in trade deals with (i) Australia and (ii) New Zealand; and if she will make a statement.

Photo of Greg Hands Greg Hands The Minister of State, Department for International Trade

The precise details of the Australia and New Zealand Free Trade Agreements are a matter for formal negotiations, and the Department would not seek to pre-empt these discussions.

If it is deemed that a legal mechanism is appropriate for resolving investment disputes, the mechanism will reflect modern practice, deliver fair outcomes of claims, require high ethical standards for arbitrators, and include transparent proceedings.

There has never been a successful Investor State Dispute Settlement claim against the United Kingdom, nor has the threat of potential claims affected our legislation.

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