Labor unveils excellent FTA reforms

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By Leith van Onselen

Labor’s national conference has supported proposed changes to the party’s policy platform with regard to free-trade agreements. Amongst other things, Labor will require a preliminary national interest assessment to be undertaken when negotiations for a free-trade deal commence, while unions, industry and community groups will be given greater input into trade deals. Labor also intends to ban free-trade deals that waive ­labour-market testing requirements or include Investor State Dispute Settlement provisions. From The Australian:

Under the Labor plan, a full-time negotiating team would be established within the Department of Foreign Affairs and Trade to negotiate the removal of ISDS clauses and the reinstatement of labour-market testing where it has been waived in existing free-trade agreements.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.