Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what recent assessment she has made of the implications for her policies of the letter from civil society organisations to the Prime Minister entitled, excluding investor-state dispute settlement (ISDS) as a condition of UK accession to the CPTPP, published 23 October 2023; and if she will take steps to negotiate a side-letter with the CPTPP that removes access to ISDS provisions for UK investors.
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership is a comprehensive agreement that provides investors with investor protection provisions that seek to guarantee the treatment they can expect to receive when accessing and operating in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership markets.
The agreement contains a modern, transparent investor-state dispute settlement mechanism for investors to seek independent legal redress should they not receive this treatment.
These provisions play an important role in protecting UK investors abroad and levelling the playing field. At the same time, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership protects states’ right to regulate proportionately, fairly and in the public interest.