Trade creates Australian jobs. About one in five Australian jobs are directly linked to trade. Labor supports high quality trade agreements that benefit Australian workers, farmers and businesses.
The new CPTPP is a different agreement to the Trans-Pacific Partnership (TPP), and as such will be subject to a fresh round of parliamentary scrutiny after it is signed.
The TPP included the United States and represented about 40 per cent of the world’s economy. The new agreement does not include the United States and represents about 13 per cent of the world’s economy.
The agreement has been signed and will soon be tabled in Parliament.
This will mean the Joint Standing Committee on Treaties will examine the agreement and make a recommendation to the Parliament.
Labor has called for the agreement to be subject to independent economic analysis by the Productivity Commission to identify the benefits, where the jobs will be created, the industries that will benefit, the parts of Australia that will be better off and the areas that we need to do more work to help people that won’t be better off.
If elected, a Shorten Labor Government would conduct independent economic modelling of all new trade agreements.
Turnbull and his conservatives negotiated to waive labour market testing for an additional six countries in this agreement. This means that an employer can bring in a worker from one of these countries without first checking to see if there is an Australian who can do the job.
It’s the sort of thing Labor would seek to fix in Government.
It’s just common sense that if employers want to bring in a foreign worker, they should have to check if an Australian can do the job first.
The agreement also includes Investor State Dispute Settlement (ISDS) mechanisms which would allow foreign corporations to sue the Australian Government.
Labor has committed to review ISDS provisions in existing trade and investment agreements and will seek to work with Australia’s trading partners to remove these provisions in Government.