WikiLeaks Releases TiSA Secret Trade Documents

Wikileaks Releases New Secret Trade Documents
Wikileaks Releases New Secret Trade Documents

Secret information service WikiLeaks released Friday new secret documents from the controversial Trade in Services Agreement (TiSA) currently being negotiated by the US, EU, and 22 other countries that account for over 2/3rds of global GDP.

The release, according to WikiLeaks, is just a few days ahead of the next two-day long TiSA Chief Negotiators meeting in Washington DC, which starts on Monday next week.

This publication, consisting of three Chapters from the Agreement: Financial Services, Localization Provisions, and Bilateral Market Access, all from June of this year, adds to WikiLeaks’ seven other TiSA publications of 70 documents relating to the negotiations.

WikiLeaks says that TiSA is the largest of the three proposed giant multinational trade agreements. Along with the TPP and TTIP, the “Three Big T’s” create a new global economic and legal bloc.

TiSA is the agreement around the vitally important services industry. Quoting World Bank figures, WikiLeaks says services comprise around 75% of the EU economy, 80% of the US economy, and the majority of economies of most countries.

The global economy is shifting towards a service-oriented economy. However, despite its importance both the US Presidential candidates Hillary Clinton and Donald Trump have thus far given no position on the TiSA Agreement, WikiLeaks says.

By following WikiLeaks’ publications in these otherwise highly secretive trade negotiations the public can see how country positions shift.

WikiLeaks believes that the current TiSA text “would heighten risks of financial instability and handcuff governments’ ability to respond to a domestic or global financial crisis at a time when everyone (except the finance industry and its political allies) agree that we need more financial regulation, not less.”

Also highly noteworthy in Friday’s release is the EU’s list of bilateral demands to the United States, Chile, Taiwan, Columbia, Costa Rica, Hong Kong, Israel, Japan, South Korea, Mauritius, Mexico, Pakistan, Panama, Peru, Switzerland, and Turkey.

The demands cover Financial Services, Energy and Mining, Telecommunications, Maritime Services, Government Procurement, Monopolies, E-Commerce, Domestic Regulation, and more.

Photo courtesy: Wikileaks

RMN News

Rakesh Raman