Senate debates

Wednesday, 17 October 2018

Bills

Customs Amendment (Comprehensive and Progressive Agreement for Trans-Pacific Partnership Implementation) Bill 2018, Customs Tariff Amendment (Comprehensive and Progressive Agreement for Trans-Pacific Partnership Implementation) Bill 2018; In Committee

11:05 am

Photo of Linda ReynoldsLinda Reynolds (WA, Liberal Party, Assistant Minister for Home Affairs) Share this | Hansard source

Senator, I'm seeking further advice on that, but it depends on what's in the treaty itself. We'll get some more information on that. One thing I would like to point out and remind the chamber of in relation to the ISDS—something that we've discussed in great depth here over the last couple of days—is that this is reciprocal. Senator Hanson, this might allay some of your concerns. This is equally important for Australian businesses engaging overseas. For example, Australian mining companies want ISDS provisions in any future Indonesian free trade agreement because they provide certainty for those businesses themselves. Again, I think it's important to remember that this is not just an issue for others; it is an issue for us. In fact, in the negotiations on the Indonesia-Australia free trade agreement, the Indonesian government said that they want to have the ISDS to provide foreign investors, including Australian investors, with greater certainty in terms of doing business in Indonesia.

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