Parker David: Questions for Oral Answer — Questions to Ministers 
Parker David: Questions for Oral Answer — Questions to Ministers 
[Volume:673;Page:19813] 
7. 
Hon DAVID PARKER (Labour) 
 to the  
Acting 
Minister for Economic Development 
: Does he stand by all his answers to Oral Question No 8 yesterday? 
Hon DAVID CARTER (Acting Minister for Economic Development) 
: 
 Yes I do. 
Hon David Parker 
: Is the Minister aware that the total trade deficit with China since his Government came to office is $4.6 billion? 
Hon DAVID CARTER 
: No; I do not have that figure with me. I am aware that trade exports to China have grown from $2.3 billion to $5.5 billion since 2008 and that is a remarkable rate of growth of around 140 percent. It is an absolute success story. 
Hon David Parker 
: Is the investment balance with China positive or negative or in other words every year is China buying more of New Zealand than New Zealand is investing in China? 
Hon DAVID CARTER 
: I know that the member is totally opposed to foreign investment. What I was talking about yesterday was the performance of New Zealand Trade and Enterprise in raising the amount of exporting by New Zealand companies to China. It has been remarkably successful—something that the member does not seem to be prepared to accept. 
Hon David Parker 
: I raise a point of order Mr Speaker. 
Mr SPEAKER 
: Before I call the honourable member I say that the question had no particular political content. The question simply asked if I recollect correctly whether the investment balance between New Zealand and China was positive or negative or whether China was buying more—I cannot remember the exact words. If the Minister did not have those particular figures that is one thing but then to criticise the questioner in the way he did by saying that the member does not like foreign investment is not acceptable. I invite the Hon David Parker to repeat his question. 
Hon David Parker 
: Is the investment balance with China positive or negative or in other words every year is China buying more of New Zealand than New Zealand is investing in China? 
Hon DAVID CARTER 
: I do not have figures as to the investment balance between China and New Zealand. 
Hon David Parker 
: The projections in the Budget show the current account deficit getting worse every year from here on and New Zealand’s net investment position getting worse every year from here on so both deficits are expected to worsen; does this not show that the China beachhead board resignation is indicative of a wider problem for New Zealand? 
Hon DAVID CARTER 
: No it does not. The resignation by the beachhead board occurred simply because there was a significant clash of personality between the management of New Zealand Trade and Enterprise in China and the beachhead board. The beachhead board delivered an ultimatum to New Zealand Trade and Enterprise stating that if the board was to remain as the current board it would require a change of management staff of New Zealand Trade and Enterprise in China. The chief executive of New Zealand Trade and Enterprise was not prepared to accept that ultimatum and therefore the board resigned en masse. 
Hon David Parker 
: Did a member of the New Zealand Trade and Enterprise board cause or contribute to the mass resignation of the China beachhead board; if so who was that board member? 
Hon DAVID CARTER 
: I am not aware of any board member of New Zealand Trade and Enterprise causing the resignation of the beachhead advisory board. What happened as I have just explained to the member is that the beachhead advisory board was attempting to decide who should be the management personnel of New Zealand Trade and Enterprise in China. It is not appropriate for an advisory board to attempt to manage the operations of New Zealand Trade and Enterprise.