Today, Friday 14 October 2016, 11:00am CEST, WikiLeaks releases 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 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 is also publishing four analyses on the three new Chapters being released today.
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. According to World Bank figures, 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.
By following WikiLeaks' publications in these otherwise highly secretive trade negotiations the public can see how country positions shift. As the analyses published today show, 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 today'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, Turkey, explained in our analysis. The demands cover Financial Services, Energy and Mining, Telecommunications, Maritime Services, Government Procurement, Monopolies, E-Commerce, Domestic Regulation and more.