JAKARTA. Indonesia could fall into bankruptcy if the biggest market in Southeast Asia join the Trans-Pacific Partnership (TPP), which would allow investors to sue the government in international arbitration courts through investor-state dispute settlements (ISDS), an activist has warned. Indonesia for Global Justice (IGJ) spokeswoman Rachmi Hertanti said ISDS favored investors’ interests over the national interest. Submitting to the TPP regulations on ISDS would open the country to being sued by foreign investors claiming their investment had been disadvantaged. "According to the United Nations Conference on Trade and Development [UNCTAD], American and Canadian investors most frequently used ISDS to resolve disputes between 2013 and 2015, with the dispute cases worth US$8 million to $2.5 billion," Rachmi said on Monday in Jakarta.
TPP may bankrupt Indonesia, activists say
JAKARTA. Indonesia could fall into bankruptcy if the biggest market in Southeast Asia join the Trans-Pacific Partnership (TPP), which would allow investors to sue the government in international arbitration courts through investor-state dispute settlements (ISDS), an activist has warned. Indonesia for Global Justice (IGJ) spokeswoman Rachmi Hertanti said ISDS favored investors’ interests over the national interest. Submitting to the TPP regulations on ISDS would open the country to being sued by foreign investors claiming their investment had been disadvantaged. "According to the United Nations Conference on Trade and Development [UNCTAD], American and Canadian investors most frequently used ISDS to resolve disputes between 2013 and 2015, with the dispute cases worth US$8 million to $2.5 billion," Rachmi said on Monday in Jakarta.