Philip Morris, Australia and the fate of Europe’s trade talks

Australia Europe

IT isn’t often that Australia rates a mention in the European Union’s corridors of power. And that’s no bad thing: the long-running diplomatic stoushes with Canberra over agriculture and market access are seen here as water under the bridge. No news is definitely good news.

Yet for the past few months Australia has been the talk of the town. A little-known investment treaty between Hong Kong and Australia, signed in 1993, is being used as a cautionary tale of what lies in store for Europe as it negotiates its way towards what will be the biggest free trade and investment agreement ever. And Europe’s executive is responding by saying it has learnt from Australia’s mistakes…

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