Young Jonathan: Commerce Commission (International Co-operation and Fees) Bill — Second Reading 
Text is incorporated into the Bound Volume 
Young Jonathan: Commerce Commission (International Co-operation and Fees) Bill — Second Reading 
[Sitting date: 03 May 2012. Volume:679;Page:1976. Text is incorporated into the Bound Volume.] 
JONATHAN YOUNG (National—New Plymouth) 
: 
 Acknowledging the work of the previous Government in commencing this work is important also the work of the Hon Simon Power and now the work of the Hon Craig Foss. It is great that we can cooperate across the House as we can cooperate across the Tasman and we all want to work for the success of New Zealanders and Australasians in a world that is incredibly competitive and increasingly so. As I noted in my first reading speech on the Commerce Commission (International Co-operation and Fees) Bill here in New Zealand we are a small trading nation. We export 85 percent of what we produce so it is imperative that we have very good relationships understandings and regulations agreed to by our trading partners in order for us to have a level playing field. That is what I think most people if not all people in commerce look for—a level playing field. They want to have certainty. They want to know that if they can apply their resources their hard work and their capital they have every chance of success. We know through the free-trade agreements that we are seeing developed that this is the sort of playing field that we want to create for New Zealand enterprise. One thing we are certain of is that we are an innovative nation. We are a nation of people who are hard-working with great ideas and with endeavours that can bring great success to this country.  
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. The Commerce Commission (International Co-operation and Fees) Bill amends a number of Acts of Parliament: the Commerce Act 1986 the Credit Contracts and Consumer Finance Act 2003 and the Fair Trading Act 1986 and it seeks to authorise the commission to share information with equivalent overseas agencies about unfair trading practices and as the previous speaker mentioned anti-competitive behaviour. This bill is part of the National-led Government’s focus on improving access for our exporters to world markets. Boosting innovation and improving export access is one of the key policy drivers for the ongoing rebalancing of the New Zealand economic performance that we seek to see happen.  
 It is known by all that only by lifting economic performance can we create the jobs boost the incomes improve the living standards and provide the world-class public services that Kiwi families need. So though the intricacies and the mechanics of this bill may not be understood by many New Zealanders the benefits of it will be. The benefits will flow through greater success in our companies.  
We understand that the single economic market is a development that is important to the economies of both New Zealand and Australia. Under the single economic market concept both Governments have been intensifying efforts to remove regulatory barriers to trans-Tasman trade. It was back in 2009 that both Prime Ministers—our Prime Minister John Key and the then Prime Minister Kevin Rudd—agreed on the imperative for continued strong and coordinated international action to restore confidence in global economic growth there in the midst of the global financial crisis. But that same commitment has been continued with the Rt Hon Julia Gillard. It was just over a year ago that a new investment protocol and a CER trade agreement was signed between both Prime Ministers. I will just quote what Bill English our Minister of Finance said regarding that. He said: “New Zealand and Australia have one of the most open bilateral economic and trade relationships of any two countries. This relationship is underpinned by CER which is the oldest and most comprehensive set of trade access arrangements that either country enjoys.” He said: “Australia is both the single largest source of direct foreign investment in New Zealand and is the largest overseas destination for New Zealand investment.”  
So in many regards we are joined with common necessity but also common aspiration that this corner of the world continues to succeed and be prosperous. It is recognised that strengthened trans-Tasman economic integration including through the single economic market work programme is vital for both. We are the third-best place in the world to do business according to the World Bank’s estimations. But for that business success to be optimised easy access to overseas markets is paramount for our country. With 85 percent of our products manufactured going to export markets it is imperative that we have this easy access and that we have regulation that is harmonised to the very best of our ability so that we create a level playing field for our enterprises here in New Zealand. We are committed to this process—very much so.  
We need to offer a better policy environment if we are to overcome the economic disadvantages that our country has. Being small in size is one of them; our geographical isolation is another. If we want to attract and retain increasingly mobile talent—which can go anywhere in the world but we want those people to stay here and we want to retain their skills here—and if we want to retain encourage and invite capital technology and entrepreneurship then a better policy environment is what this Government determines and desires to provide to businesses in New Zealand. Regulatory reform is very much improving that and this bill goes towards that as well to create that environment where New Zealand companies can have a presence in the Australian market and where the ease of business for them there is as easy as it is here. That is where we want to head with a harmonisation of our commerce laws. I believe that this bill which was progressed by the previous Government under Lianne Dalziel and also under the leadership of the Hon Simon Power and which is now under the leadership of the Hon Craig Foss is moving us very well and positively in that direction. I commend this bill to the House.