Young Jonathan: Commerce Commission (International Co-operation and Fees) Bill — First Reading 
Young Jonathan: Commerce Commission (International Co-operation and Fees) Bill — First Reading 
[Volume:663;Page:11276] 
JONATHAN YOUNG (National—New Plymouth) 
: 
 I am very pleased to speak on the Commerce Commission (International Co-operation and Fees) Bill. We are a small trading nation. We export 85 percent of what we produce so it is imperative that very good relationships understandings and regulations are agreed to by our trading partners in order for us to have a level playing field the cooperation and willingness of markets overseas to trade with us and confidence which is absolutely necessary. This bill which was introduced in September 2008 was adopted by this Government and carried forward because it is very much part of our agenda of focusing on improving access for our exporters to world markets. 
It is interesting to know that New Zealand feeds the equivalent of 60 million people in the world with our food produce so we are producers which I believe are highly sought after and appreciated in the wider world. Evidence of that is the number of free-trade agreements that our very expert and effective Minister of Trade the Hon Tim Groser has been able to broker with nations overseas. But backing up all of that is the importance of regulation in order that the process of doing business is streamlined effective and sure particularly with Australia which is a very important market. 
We have been developing a single economic market with Australia and that is a concept where both Governments are intensifying efforts to move forward. In fact both Prime Ministers John Key and Kevin Rudd agreed on the imperative for continued strong and coordinated international action to restore confidence and global economic growth. They recognised that strengthening trans-Tasman economic integration including through the single economic market work programme would be vital for both of our countries. The Trans-Tasman Outcomes Implementation Group co-chaired by senior officials in the Australian Treasury and our own Ministry of Economic Development has been working to advance these outcomes which were identified by Prime Minister Key and Prime Minister Rudd. 
Key areas where substantial progress has been made include work towards a single cross-border insolvency proceeding; progress on the alignment of accounting standards for profit entities; establishment in New Zealand of an accounting and auditing standards-setting infrastructure that will mirror those in Australia; the potential for mutual recognition of auditors and financial advisers; a process for achieving more ambitious intellectual property outcomes including a single application process for patents and trademarks and a single regulatory framework for patent attorneys; the development of equivalent approaches to approval and verification of weighing and measuring equipment on both sides of the Tasman; and in respect of other aspects of consumer law. 
Also agreement has been reached on cross-appointments of commissioners between the Australian Competition and Consumer Commission and our Commerce Commission. These cross-appointments will underpin cooperation on trans-Tasman competition issues. They will make a way possible for continuing effective and even better trade between our countries and for the betterment of New Zealand exporters. Thank you.