An informative article about TTIP and its risk

- Saurav Raj Pant

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Trans-Atlantic Trade and Investment Partnership (TTIP)-primarily a free trade agreement between Europe and the USA is creating a buzz around Europe and the US sphere after the proposed draft was released in March, 2014. This secretive draft brought a strong objection inside EU for not going in to public consultation on each and every clause that affects the lives of millions of Europeans.

Corporate power over democracy

Seven chapters proposed treaty contains, liberalization of investment, free business workers movement, allow corporate house to take legal actions against government for contravene of its rights etc. This is called ISDS laws (Investor State Dispute Settlements) which is proficient enough to challenge the government policies. Such law allows foreign investor to violate national courts and sue a state before an international arbitration court decision. Such rights for investor are so intense that they can ultimately put down all democratic decision of the country. There are some of the ISDS clauses in bilateral investment in the world which have sued the state.

Primarily, the provision of ISDS was imposed in the developing world for the sake of protecting investors to do their business because the legal systems in those countries were pretty weak.

-Philip Morris Inc. is now legally suing billions of Dollars to Australian Government over restriction of branding, advertisement, colors etc. on Cigarette packets under Australia- Hong Kong Bilateral trade agreements. According to the bill passed by the Australian Law, Cigarette front packets should include 75% photo of harmful effects of smoking and 90% on its back side.

Biggest Economic domination/ Economic Power expansion

The US being the world biggest economic power patching up with European Union making the single free economic market; brings a lot of economic imbalances in Global South Economy. Global South economy is suffering from unsatisfactory economic booming, if ever created such Mega economic bloc (The US and European Union), Global South Economy will partially or fully vanish from global economic system. TTIP will eradicate the current tariff rate between the US and EU making the bloc independent, less expensive and flexible to import the goods from TTIP partner countries rather to import from Global South countries. In this way, Global south will lose foreign incomes and investment making the TTIP partner countries- a great 'hub' for doing and expanding their business. This has severe effects on the significance of WTO (World Trade Organization) which allows sudden subsidies on tariffs for the Global South products, making TTIP influential in every global trade negotiations. The WTO Global South partner countries will be forced to follow the rules direct by the Global North countries as they don't have an international political and economic influence.

Environment and Climate under devastation- Economic significance is leading

TTIP main aim is to create limitless economic growth between the USA and EU by maximum utilization of the available natural resources.  This over utilization of nature making Economic bigger will be brutal threats to the future of the Earth encouraging the multinational giants to infringe the Government rules and regulation, making the common people to stand against it.  TTIP sincerely persuade Fracking in Europe which is already legal in the US; is proving powerful instruments in international diplomacy to challenge power blocs. This Fracking causes chemicals in making groundwater polluted for future generations. Another greatest environmental danger is GMO (Genetically Modified Organisms) -changing genetic stuff by using genetic altering techniques. This GMO produce toxicity; have minimum nutritional values and food allergy.

National Health Care System is under TTIP threats

TTIP bill is to allow the US style profitable health care system to introduce in EU making big health corporations to boom their business in an ever created single market. This will enact almost impossible Health Care System for general public in an affordable cost. Health care system should not be prioritized as it should be provided to general public in a reasonable cost. Not only this, other basic necessities such as education, water etc. also is in the danger of privatization whim of TTIP.

Accountability/ Secrecy/ No Civil Society Organization' participation in drafting the bill

Why TTIP is so secretive allowing only high ranked European Commission and American representative to have access to the TTIP documents? Are those few people only legitimate persons to decide the future of millions of European peoples? Following the democratic norms and values, such behavior of secretly launching the bills is strongly intolerable for Europeans putting up the influence of foreign investor and business in Europe.

Organization such as Federation of Young European Greens, War on Want, and Greenpeace are strongly campaigning against TTIP secretive drafts making general public aware on, how their European representative in the parliament are becoming pro-business dude working directly on anti-peoples sentiment.

Source: FYEG TTIP documents