US Free Trade Agreement Update

ALP Leader Mark Latham has announced that the Federal ALP has decided that as the Agreement has net economic benefits for Australia it will be supported by Labor.

Mark Latham proposes to tie Labor’s support to amendments to safeguard the pharmaceutical benefits scheme (PBS) and local content in the Australian media.

Last night the ABC’s Four Corners examined the effect of the FTA on Australia’s pharmaceutical benefits scheme and the relevance of the IP Chapter of the FTA in assisting US pharmaceutical manufacturers to impede the sale of generic products in Australia.

The FTA legislation is expected to be debated in the Senate this week.

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