Owen Jones (This trade deal puts private profit above peoples needs, 15 September) is an intelligent political and social commentator, not a one-man campaigning NGO. So he must know that investment protection treaties dont allow multinationals to sue sovereign governments on the grounds that their profits are threatened. And he must certainly know that, as with any lawsuit, the fact that Philip Morris has brought proceedings against Australia over the plain packaging regulations doesnt mean that either side has won this highly contentious case before judgment has been given.
What investment treaties typically do is offer investors (in either direction) reciprocal guarantees of basic principles such as fair and equitable treatment, protection and security, non-discrimination both generally and by comparison with local investors, and against expropriation without compensation (also guaranteed by the European convention on human rights).
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