The Regional Comprehensive Economic Partnership (RCEP) is a mega regional trade deal involving sixteen nations from Asia-Pacific. RCEP will impact the lives of billions of people, from the quality of the food they eat to the energy they consume and the affordability of life-saving medicines. Yet, RCEP negotiations are being conducted almost completely in secret, with limited to no meaningful public participation. Most elected officials have, at best, limited access to the negotiating texts, which remain out of reach for civil society.
Cecilia Olivet, Kat Moore, Sam Cossar-Gilbert, Natacha Cingotti
08 December 2016
The Regional Comprehensive Economic Partnership (RCEP) trade deal under negotiation between 16 Asian countries would grant corporations exclusive rights to sue governments at international tribunals. This report reveals that investors have launched 50 lawsuits at secret international arbitration tribunals against governments negotiating the RCEP agreement for a total of at least $31 billion US dollars. These lawsuits provide a warning of the potential high costs of the proposed RCEP trade deal. RCEP will deepen the rights of investors and lock in place this system of privatised justice.
The U.S. and India should not sign a treaty that will only serve the short-term interests of large corporations, and undermine the authority of governments to protect their people from financial crisis.