Cosgrove Clayton: International Finance Agreements Amendment Bill — Third ReadingText is incorporated into the Bound VolumeCosgrove Clayton: International Finance Agreements Amendment Bill — Third Reading[Sitting date: 12 November 2015. Volume:710;Page:7989. Text is incorporated into the Bound Volume.]Hon CLAYTON COSGROVE (Labour): Like other Labour members I reiterate that we are supporting the International Finance Agreements Amendment Bill. I do find myself unusually in agreement with some of what the speaker who has just resumed his seat Jami-Lee Ross has said in respect of the need for New Zealand to be at the table in the great international institutions. We have always been at the forefront of the formation of international institutions whether it be the UN the World Trade Organization and on it goes. I respect New Zealand First’s view but I say it was a bit like the contribution last night: “What’s in it for New Zealand?”. I do agree that there has to be something in it for us and what is in it for us is the ability to influence the ability to take our place in the Asian region and the ability also in a very pragmatic and practical way I would hope to be recipients of work and goods and services that are provided to the Asian region as they move to fill the gap in infrastructure that they have. That creates jobs for New Zealand.We have highly skilled people in this country. We provide world-class goods and services and world-class infrastructure and engineering services. I would have thought that being part of this and putting up a very modest $126 million I think it is as the first hit and possibly $504 million going forward is an investment in respect of being a recipient of that work and those projects and of being around that table. If you are not in the ring you are out of the ring and you do not have influence.The Asian Infrastructure Investment Bank is part of that and I think the Government has made the right move in being a plank-owner a foundation member of this new international institution as we are in respect of the World Bank the IMF the ILO the World Intellectual Property Organization and a whole series of other international institutions. It is appropriate and being at the forefront of it we have influenced the governance arrangements the structure and the level of transparency so that this is a proper and world-class institution. I do not believe that we can throw the cone over New Zealand and somehow divorce ourselves from the rest of the world. The world is an interlocked place an interconnected place and we have a duty to our citizenry in growing our economies to ensure that we are advantaged off the back of the growth in economies around the world; otherwise we do not survive.I want to take issue though with one thing that Mr Ross said. He is right that in the past New Zealand had an extremely proud track record of leading the charge on key issues around the world. That is absolute and I believe that New Zealanders and Governments of all shades up until recently could be extremely proud of the “New Zealand Inc.” philosophy that is exhibited generally by political parties. When we go overseas we are for New Zealand. We are absolutely for New Zealanders and we are for the growth of our nation and we are proud of that. I have to say to Mr Ross with all due respect that in the last 72 hours that has taken a real kick in the guts—an absolute kick in the guts—in terms of our profile around the world. It is has taken a hit I think before the UN. I think it has taken a hit in respect of media around the world. Many of those and many political commentators and actors around the globe are scratching their heads wondering what on earth is going on obviously in Australia and what on earth is going on in respect of the leadership both internationally and domestically in respect of our Prime Minister and our Government over the issue of course of the detainees on Christmas Island.As we celebrate the success of being a foundation member in this international institution and as we move to take our place in other international institutions the Security Council and others I think the Government really needs to reflect on the potential damage that it does to New Zealand’s international reputation by both its conduct in respect of this trans-Tasman issue and its conduct within this Chamber. People watch what happens in this Chamber. Ambassadors and others monitor what happens in this Chamber and they report back to capitals. I think that every member would agree that we want to maintain and enhance New Zealand’s reputation on all fronts: economically socially and geopolitically and in terms of trade etc. but that starts at home with domestic matters. I would ask the Government to reflect on that because this is a very germane debate as we look at our international reputation.The Labour Party supports this bill. We think it is a good piece of legislation. We look forward to Governments of all shades being active participants in this institution as we move in as part of the Asian region.