Following the UK vote to leave the EU, the UK has to rethink its entire trade policy.
Formal negotiations on new trade arrangements cannot begin until the UK exits the EU. But we can take action right now on the treaties that the UK has with individual countries or regions (otherwise known as Bilateral Investment Treaties).
The UK has more than 100 Bilateral Investment Treaties. Like TTIP and CETA, these deals allow companies to sue governments at private international tribunals. Companies are challenging policies on everything from changes to environmental legislation, labour laws, decisions regarding tariffs for water and electricity to measures put in place in the aftermath of the 2008 financial crisis.
The development of the UK’s new trade policy provides a huge opportunity to ensure trade works for people and planet - an opportunity to secure trade justice. Getting our approach right for existing treaties will help to shape our future trade arrangements. And we can start now by making a fundamental change to the excessive rights offered to companies in existing Bilateral Investment Treaties.
Please ask your MP to call for a fundamental change to the UK’s Bilateral Investment Treaties by signing Early Day Motion 642.