UK investment treaty with Colombia ’threatens fragile peace process’ | Global development | theguardian.com
▻http://www.theguardian.com/global-development/2014/jul/09/uk-investment-treaty-colombia-human-rights
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.
“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.
Lizzie McLeod, senior policy adviser at UK NGO Traidcraft, which has protested against the treaty’s ratification in Britain, said it could allow British companies to challenge the Colombian government over its land reform programme. “It could threaten the return of 5 million internally displaced people, a critical part of Colombia’s fragile peace process,” she said. “The investment treaty undermines democratic processes and the prospects of peace for the sake of UK profits.”
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