UK investment treaty with Colombia 'threatens fragile peace process'

[Judi Lynn]

UK investment treaty with Colombia 'threatens fragile peace process'

Human rights groups say agreement to protect British investors empowers multinational firms and endangers land reform

Claire Provost and Matt Kennard
theguardian.com, Wednesday 9 July 2014 07.53 EDT

British companies will be able to sue the Colombian government in the international courts for the first time under a controversial investment treaty that critics say will make it harder for the Latin American country to carry out land reform – a key component of its ongoing peace process.

The UK-Colombia bilateral investment treaty (BIT), to be ratified by parliament on Thursday, gives investors broad protections and the ability to mount claims at private tribunals if they argue they have been treated unfairly.

The British government describes it as an important tool to foster economic prosperity in both countries. But human rights and anti-poverty groups say it gives too much power to corporations and could expose the government to costly lawsuits.

"It's very bad for Colombia. It will give total power to the transnationals by promoting investors interests, while ignoring the wider society," said Enrique Daza, director of Colombian NGO Cedetrabajo, which works on the impact of trade agreements in the country.

More:
http://www.theguardian.com/global-development/2014/jul/09/uk-investment-treaty-colombia-human-rights

[djean111]

1. The TPP mentality has really really insinuated itself into everything.

What a surprise.

[gwheezie]

2. Thank for starting these threads

I've been in an ongoing debate about chickens coming home to roost re our history and policy towards our southern neighbors and your links make me sound more coherent.