Letter to the Editor

20/7/1998

The Multilateral Agreement on Investment is similar to, but more extensive than, the GATT (General Agreement on Tariffs and Trade) and the NAFTA (North American Free Trade Agreement). If signed Australia would be forced to guarantee unlimited access for multinational companies to our markets, we would not be allowed to discriminate in favour of domestic companies, and it would override many of the more progressive international treaties to which we are signatories. The treaty would lock us in for up to twenty years, and has no binding requirements for labour, human rights or environmental standards. Nations which attempted to impose such conditions could be sued for millions of dollars in an international court for interfering with the right of multinational companies to make profits.

On Thursday the 16th of July I attended a Joint Standing Committee on Treaties panel hearing into the Multilateral Agreement on Investment. I would like to congratulate the Senate Inquiry into the MAI for their thoroughness and commitment to public consultation. The atmosphere in the hearings was both professional and friendly, and the bipartisan committee had obviously taken to heart the 850 submissions which they have received.

The Geelong Community Forum will be pleased to provide information and assistance to those who would like to send a submission to the Inquiry. Despite our request the Inquiry is unable to visit regional areas, therefore, we would like to invite those who have an interest in attending the next panel hearing to contact us on 52413752 so that they can receive notification of the next panel hearing in Melbourne. Finally, we would urge the City of Greater Geelong to reconsider their decision not to address the Senate Inquiry. The last Council was at the forefront of the campaign to prevent the lowering of Tariff barriers for the car industry, and the textile, clothing and footwear industries. The Council has a responsibility to continue this campaign with the MAI (and APEC) and protect local industries and jobs.

Serena O'Meley
Geelong Community Forum